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Research Nester published a report titled “Fluorescent Pigment Market : Global Demand Analysis & Opportunity Outlook 2028″ which delivers detailed overview of the global fluorescent pigment market in terms of market segmentation by product type, application, state, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
There are various states of fluorescent pigment that are powder and aqueous dispersion. The fluorescent powder has a bright glow under the conventional lighting and ambient of UV in the daylight. The neon glow can be achieved by activating the powder fluorescent pigment by using the ultraviolet lamp. The fluorescent effect displayed by using the powder helps the item stand out using the standard color technology. The powder fluorescent pigment is mainly used as a color additive to manufacture inks, paints, and plastic molding via different polymers. The fluorescent pigment's aqueous dispersion comprises a water-insoluble polymer, emulsifier, fluorescent dye, and water. The aqueous dispersion of the fluorescent pigment improves the color purity and the fluorescence, which is useful for graphic art applications such as gravure or flexographic printing inks, textile printing inks, paints, marker inks, and others. The global market accounted for USD 374.8 Million in 2020 and is estimated to grow at a CAGR of 4.9% during the forecast period, i.e., 2021-2028.
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The global fluorescent pigment market is segmented by application into currency, identification certificates, and banking bonds, legal documents, tax banderols and others. Among these segments, the currency segment in the global fluorescent pigment market is estimated to grow with the highest CAGR of around 4.1% and is estimated to be the leading revenue generating segment during the forecast period. Geographically, the global fluorescent pigment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, out of which, the market in North America held the leading market value of around USD 123.6 Million in 2020 and is further estimated to hold this position throughout the forecast period. The Asia Pacific region accounted for a significant share of the fluorescent pigment market for Security and Currency Applications due to the increasing frauds in identification certificates and banking bonds. In 2018, Chinese police seized a million fake identity documents after an investigation and this racket was operating across 20 provinces. The fake papers include various certificates ranging from residents' identity cards to birth certificates, passports, English test certifications, and driving licenses. Owning to the above fraud, the Chinese government is trying to improve fluorescent pigment quality used in identification certificates. In India, the crimes related to fake currency are increasing, as out of the total fake Indian currency notes (FICNs) detected in the banking sector, 5.6% were detected at the RBI, and other banks detected 94.4%. To curb the rackets of fake currency and fake identification certificates, the governments in the region rely on fluorescent pigment, which will be considered a driving factor for the growth of the region's fluorescent pigment market for security and currency applications.
Rising Demand for Fluorescent Pigment for Printing Currency
Countries ahead in technological advancements and have been using fluorescent pigments for a significant period. The crime related to forged documents is comparatively low in the region as the ink used in most identification documents is fluorescent, which is difficult to duplicate. In the past five years, many fake currency rackets have been busted in the region, leading to the overall robust growth of the region's fluorescent pigments market during the forecasted period.
However, Presence of stringent regulatory norms across several nations for the marketing of these pigments is a key restraint to the growth of global fluorescent pigment market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global fluorescent pigment market which includes company profiling of Radiant Color NV, Hangzhou Aibai Chemical Co. Ltd., Organic Dyes and Pigments LLC, Luminochem Ltd., Ukseung Chemical Co. Ltd, Aron Universal Limited, Vicome Corp., Huangshan Jiajia Fluorescent Material Co., Ltd., Wanlong Chemical Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fluorescent pigment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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