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Phosphorescent Pigments Market is foreseen to expand at a steady CAGR of 4.7% by 2025
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As per TMR’s projections, the opportunity in the worldwide phosphorescent pigments market, which was worth US$500.4 mn in 2016, is anticipated to expand at a CAGR of 4.70% during the period from 2017 to 2025 and touch the mark of US$753.2 mn by the end of the period of the forecast. Strontium aluminate and zinc sulphide are the two main products available in this market. The price of strontium aluminate is much higher than zinc sulphide pigments. Regionally, the market is segmented into the Middle East and Africa, Asia Pacific, North America, Europe, and Latin America. Among these, Asia Pacific has surfaced as the key contributor to the global market. Researchers at TMR anticipate this scenario to remain so over the forth coming years. Europe is also projected to report significant rise in its market for phosphorescent pigments in the near future, notes the research study.
global-phosphorescent-pigments-market.jpgWidening Application Base of Phosphorescent Pigments to Support Market’s Growth
“The rising utilization of phosphorescent pigments in a number of end users, such as the writing and printing inks, watch and clock dials, home appliances, home appliances, electronic instruments and dial pads, fabrics, camping equipment, signboards, and the switches and lighting apparatus industries, is the key factor behind this noticeable growth of the global market for phosphorescent pigments,” says a TMR analyst. Apart from this, the rising applications of these pigments in a number of consumer products, such as printing on toys, footwear, and textiles, is also propelling this market considerably.
Over the forthcoming years, the increasing usage of phosphorescent pigments as additive to plastics in order to enhance the aesthetic appearance of plastic products is likely to support the worldwide market for phosphorescent pigments, states the market report.
Advent of Fluorescent Pigments as Substitutes to Hamper Progress
On the other hand, the rising preference for fluorescent pigments, readily emitting light as absorbed from the ambient radiation, in the photoluminescence sector may hamper the growth of the phosphorescent pigments market across the world. Since the light emitted by fluorescent pigments has an elongated wavelength, it is lower on energy than the absorbed radiation.
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As phosphorescent materials do not re-emit the absorbed radiation immediately, this factor may hinder the growth of this market in the years to come, states the research report.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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