Optical Brighteners Market - Owing to the Easy and Widespread Availability Drives Growth
As per TMR’s report, there could be a 4.1% CAGR registered between 2015 and 2023 as the global optical brighteners market heads toward the achievement of an expected revenue valuation of US$1.71 bn by the completion of 2023. By chemical, the market has been foreseen to witness the dominance of stilbene, which could also expand at a 4.1% CAGR. By region, Asia Pacific could take the driver’s seat while rising at a 5.0% CAGR during the course of the forecast period.
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Important players operating in the market could increasingly focus on geographical expansion across several developing regions such as Asia Pacific. For instance, a new research and development center had been inaugurated in India by BASF SE in 2015. The company already has another chemical production complex installed in another state of the country. Some of the other strategies adopted by key market players have been anticipated to be the production of quality intermediates, manufacture of organic products, and mergers and acquisitions with specialty chemical producers in emerging countries.
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Prospering Textile Industry Paves Smooth Road for Players
A variety of optical brighteners has been largely consumed in the textile industry since years. As a result, the demand for optical brighteners has significantly increased in the past few years because of the thriving growth of the textile industry, especially in China and India amongst the developing countries of the world. The rising consumption of optical brighteners in Asia Pacific could be supported by the flourishing advancement of the textile industry as made evident by the prediction of the Indian Ministry of Textiles. According to the Ministry, the textile industry could grow strong in India while registering a CAGR of 11.0% between 2009 and 2020.
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Stilbene has been foretold to create ample of opportunities for players making business in the world optical brighteners market. This could be due to a range of isomers and derivatives of stilbene available for manufacturers. For instance, both the Trans and Cis isomers have been engaged for the commercial manufacture of optical brighteners.
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.
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