The global optical brighteners market size was USD 661.5 million in 2015 and is projected to witness noteworthy expansion over the next eight years owing to the increasing use of the product for manufacturing uncoated & coated paper. Growing demand for paper products with a superior aesthetic appeal is further expected to propel industry expansion over the next few years.
They are utilized in the production of fine paper grades which contains HYP (high yield pulp). The increasing level of HYP substitution coupled with growing level of whiteness to improve readability over the next eight years is expected to fuel market growth over the forecast period.
Rising product demand owing to its superior characteristics including heat resistance, chemical stability, low volatility & light fastness will augment industry expansion in the near future. Governments of several countries including China and India are investing heavily in promotion campaigns to develop the paper sector, which in turn will augment industry expansion over the forecast period.
North America optical brighteners market revenue, by end-use, 2013 - 2024 (USD Million)
Increasing application in packaging, safety & security and textile & apparel are expected to propel growth over the next eight years. Technological advancement coupled with the continuous innovation taking place in this industry is also projected to fuel product demand over the forecast period.
Paper was the largest application in 2015, valued at USD 232.0 million. The paper industry is expected to be the one of the major segment owing to increasing penetration of the product over the forecast period.
High brightness papers contain an enormous amount of fluorescent which seems to appear in ultraviolet illuminations. Utilization of optical brighteners in high brightness papers is expected to fuel the growth in this segment over the next eight years.
Optical brighteners are widely used in fabrics, detergents & soaps, and synthetics & plastics. Increasing penetration of the product in various applications in the cosmetics sector which includes conditioners and shampoo will propel expansion over the next few years. They are also used in some advanced face & eye powders. Increasing trends for skin brightening is expected to drive demand for fluorescent whitening agents over the forecast period.
Fabrics are likely to witness above-average growth at a 6.5% CAGR from 2016 to 2024. Rising demand for cotton and pulp exhibiting excellent brightness to cellulase is expected to drive demand.
Consumer products are expected to generate maximum revenue over the next eight years. Consumer product segment is expected to grow at a CAGR of 6.6% in terms of revenue from 2016 to 2024 owing to the growing demand for detergents, cosmetics, and apparels.
Packaging accounted for 14.2% of the overall demand in 2015 and is expected to witness measured growth over the forecast period. Increasing demand for high-quality packaging materials with superior aesthetic value is expected to drive demand. Moreover, the presence of stringent regulations for labeling is expected to result in high demand for bright paper with superior clarity.
Europe accounted for USD 225.0 million in 2015, dominating the global market. The high requirement of whitening agents for papermaking to be used in packaging, stationery and magazines are expected to drive demand.
Asia Pacific will witness significant revenue growth at a CAGR of 7.0% from 2016 to 2024 owing to growing requirement of high-end products in textile and cosmetics industries in emerging economies such as India and China. The increasing use of optical brighteners in the apparel industry is also the propelling expansion of the market.
North America is expected to grow at a CAGR of 6.4% in terms of revenue from 2016 to 2024 owing to increasing technological progress coupled with rising advancement of innovative and improved quality of the paper products.
Optical brighteners industry is characterized by integration through raw material supply to the manufacturing stages. Some of the major industry participants are Brilliant Colors Inc., 3V Incorporation, Teh Fong Min International Co. Ltd, Keystone Inc., Clariant AG, BASF SE, RPM International Inc.
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