The global optical brighteners market is expected to reach USD 1.11
billion by 2024, according to a new report by Grand View Research, Inc. Rising
demand for optical brighteners from various industries including paper,
personal laundry, textiles and cosmetics to improve illumination of the
finished product is expected to be a principal factor in stimulating growth
over the forecast period.
Increasing demand for whitening agents from the paper industry owing to
their ability to impart superior brightness is expected to improve product
penetration over the forecast period. Paper accounted for 35.8% of the global
volume share in 2015. Growing consumer demand for paper from emerging economies
including India and China is expected to propel expansion over the forecast
period.
Textiles & apparels are one of the major end-uses of optical
brighteners and are projected to witness significant growth at a 6.1% CAGR from
2016 to 2024. Increasing competitiveness among textile and garment
manufacturers in Asia Pacific on account of high consumer demand has resulted
in a significant rise in production volumes. This in turn has made a positive
impact on the product demand owing to its ability to impart various shades of
white to textiles & apparels which will influence industry expansion over
the next few years.
In depth research report
on Optical Brighteners Market
Further key findings from
the report suggest:
•
European optical brighteners market is expected to grow at a CAGR of 6.4%
from 2016 to 2024 in terms of volume. Germany, France and Italy are expected to
be key markets on account of a positive outlook of the cosmetics industry.
Penetration of optical brighteners has increased significantly in personal care
products such as soaps and shampoos which have resulted in improving market
dynamics of the product in Europe.
•
Asia Pacific is expected to witness the fastest growth over the projected
period. Increasing production volumes of textile and paper in India, Thailand
and China is likely to propel expansion of the product over the next eight
years. The market is predicted to reach a value of USD 312.3 million by 2024.
Cost effective production approach of optical brightener manufacturers in the
region has been a major incentive for growth.
•
The demand for optical brighteners in consumer products was 59.4 kilo
tons in 2015. Various government policies including FDI and “Make in India’’ is
expected to drive the Indian paper and textile industries. Rising demand for
detergents &soaps in countries including India, China, U.S., and Saudi
Arabia will play a significant role in influencing growth over the forecast
period.
•
Key industry players include Huntsman International LLC, Archroma, RPM
International Inc., Aron Universal Limited, Teh Fong Min International Co.,
Ltd., Keystone Inc., BASF SE, Deepak Nitrite Limited and 3V Incorporation.
Companies in this sector are increasing their production capacities to expand
their business presence and gain market share.
Grand View Research has segmented the global optical brighteners market
on the basis of application, end-use and region:
Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
Paper
•
Detergents & Soaps
•
Fabrics
•
Synthetics & Plastics
•
Others
End Use Outlook (Volume,
Kilo Tons;Revenue, USD Million, 2013 - 2024)
•
Consumer product
•
Security & Safety
•
Textiles & Apparel
•
Packaging
•
Others
Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
North America
o
U.S.
•
Europe
o
Germany
o
France
o
Italy
o
UK
•
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
•
Latin America
•
MEA
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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