Growing demand for Coumarin-based Optical Brighteners and textiles and fabric applications in the APAC region is stimulating market growth.
Coumarin-based Optical Brighteners Market Size – USD 0.81 billion in 2019, Growth - CAGR of 7.3%, Trends –Mounting demand for Coumarin-based Optical Brighteners from the paper industry
The Coumarin-based Optical Brighteners Market size is estimated to reach USD 1.44 Billion from USD 0.81 billion in 2019, delivering a CAGR of 7.3% through 2027. The market growth is driven by surging product demand for paper, detergents soap, and fabric applications.
Coumarin-based Optical Brighteners are additives that are often used to enhance the appearance of the color of a fabric or paper, resulting in a whitening effect. They are also known as fluorescent whitening agents and offer unique properties, such as light fastness, high fluorescence, chemical stability, and heat resistance, making it ideal for application in the paper and textile industry.
The Coumarin-based Optical Brighteners market is expected to grow due to increasing demand for bright and colorful textiles, paper products, and detergents. The use of Coumarin-based Optical Brighteners in the laundry detergent industry is also driving market growth, as consumers are looking for bright, clean-looking clothes. The Asia Pacific region is expected to be a major contributor to the growth of the Coumarin-based Optical Brighteners market due to increasing industrialization and a growing population. However, the market may face challenges from environmental concerns over the use of Coumarin-based Optical Brighteners, as they can have adverse effects on aquatic life and the ecosystem.
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Top Companies: Clariant AG, Keystone Aniline Corporation, Huntsman Corporation, 3V Corporation, Aron Universal Ltd., BASF SE, Republic Powdered Metals, Brilliant Colors Inc., Deepak Nitrite Limited, and The Fong Min International Co. Ltd., among others.
Further Key Finding from the Report Suggestion:
- Based on application, the paper segment contributed significantly to the optical brigteners market share in 2019 and is forecast to witness a growth rate of 7.5% through 2027 on account of increasing product utilization to produce papers that are whiter and brighter.
- The textiles segment held the second-largest market share in 2019 and is likely to showcase a notable growth rate of 7.6% over the analysis period.
- Based on distribution channel, the offline distribution is estimated to exhibit a growth rate of 6.8% through 2027. However, the online segment is also witnessing major popularity and is likely to register a faster rate of 8.1% over the projected timeframe.
- Based on industry vertical, the safety security segment is forecast to grow at 7.1% over the analysis period. The robust growth can be attributed to extensive product application for detecting detect imperfections, in coatings including thin spots and pinholes through a UV light source. Moreover, increasing usage of optical brightener latex polymer as a marker or for security documents, bank checks, inks coatings, and other materials for successive identification will boost segmental growth.
- In 2019, the consumer goods segment accounted for 37.7% of the Coumarin-based Optical Brighteners market share and is set to witness a growth rate of 7% over the analysis period owing to surging demand for paper, detergents, soaps, apparel, and other consumer goods.
- In the regional landscape, North America is estimated to register a growth rate of 7.1% through 2027 on account of growing product demand from end-use industries like textiles and paper.
- Europe is estimated to exhibit a CAGR of 6.8% through 2027 on account of the growing demand for Coumarin-based Optical Brighteners in countries such as Italy, France, and Germany, as a result of the high demand for cosmetic products.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Coumarin-based Optical Brighteners market is segmented into:
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Soaps Detergents
- Plastics Synthetics
Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Industry Vertical Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Consumer Goods
- Security Safety
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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