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Luminous Paint Market Report 2024 - 2033 | Size, Growth, Share And Insights
Luminous Paint Market
Luminous Paint Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $22.5 billion In 2028 At A CAGR Of 10% :
The luminous paint market size has grown strongly in recent years. It will grow from $14.01 billion in 2023 to $15.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to consumer awareness and preference, military and defense applications, demand from automotive sector, healthcare sector requirements, demand from construction industry.
The luminous paint market size is expected to see rapid growth in the next few years. It will grow to $22.5 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to growth in tourism and entertainment industry, environmental regulations and sustainability, demand from end-use industries, increasing awareness of safety, urbanization and population growth. Major trends in the forecast period include expansion in construction industry, rise in decorative and artistic uses, focus on eco-friendly formulations, increased adoption in automotive sector, integration with smart technologies.
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Luminous Paint Market Major Segments
The luminous paint market covered in this report is segmented -
1) By Type: Fluorescent Paint, Phosphorescent Paint, Radio Luminescent Paint
2) By Material: Zinc Sulfide Powder, Calcium Sulfide Powder, Strontium-90 (Sr-90), Tritium (H-3) And Promethium (Pm-147), Radium-226 (Ra-226), Other Materials
3) By Application: Escape Routes, Emergency Signage, Cosmetics, Home Decor, Other Applications
4) By End Use Industry: Transportation Industry, Medical And Healthcare Industry, Building And Construction, Defense Industry, Oil and Gas Industry, Other End-Users
Key Driver - The Growing Demand For Data Storage Solutions Fuels The External Disk System Market
The increasing demand for commercial buildings infrastructure projects is expected to propel the growth of the luminous paint market going forward. Commercial building infrastructure projects refer to large-scale construction initiatives to develop, renovate, or expand commercial properties such as office buildings, retail centers, hotels, and mixed-use developments. Infrastructure projects in commercial spaces are growing due to increasing urbanization, rising demand for modern office spaces, technological advancements requiring updated building systems, and a focus on sustainability driving energy-efficient upgrades and renovations. Luminous paints enhance safety and aesthetics in commercial buildings by providing visible signage, emergency lighting, and decorative elements, aiding in wayfinding and branding. For instance, in June 2023, according to the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency, an Ireland-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, the increasing demand for infrastructure projects in commercial buildings is driving the growth of the luminous paint market.
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Prominent Trend - Innovations in Luminescent Photoactive Materials Driving Luminous Paint Market Growth
Major companies operating in the luminous paint market are developing luminescent photoactive materials to enhance the performance and versatility of their products. Luminescent photoactive materials enhance luminous paints' brightness, longevity, and versatility for applications in safety signage, decorative elements, and novelty products, catering to the growing demand for innovative glow-in-the-dark solutions across various industries. In January 2022, Luminochem, a Hungary-based company engaged in innovative luminescent photoactive materials, developed and manufactured unique luminescent photoactive materials and markers, with a focus on organic fluorescent security pigments and dyes and near infra-red absorbing materials. This launch improves the growth of the product portfolio.
Luminous Paint Market Players
Major companies operating in the luminous paint market are Rust-Oleum Corporation, Rosco Laboratories, DayGlo Color Corp., Tec Star LLC, Star Nail International LLC, Lumiflon America Inc., Teal and Mackrill, ADS Group, Glow Inc., Defense Holdings, GloTech International, Glow Tec UK Ltd., PUFFDINO Trade Co. Ltd., Art 'N Glow LLC, EverGlow NA Inc., Glow Products Canada Inc., Glow-Mania LLC, Glowway Oy, Jolie Paint LLC, Lumilor LLC, Luminova Corporation, Luminox USA Inc., Noxton Company, SolarColorDust LLC, Wildfire Lighting
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the luminous paint market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the luminous paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Luminous Paint Market Report Structure
3. Luminous Paint Market Trends And Strategies
4. Luminous Paint Market - Macro Economic Scenario
5. Luminous Paint Market Size And Growth
…..
27. Luminous Paint Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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