PUBLISHER: The Business Research Company | PRODUCT CODE: 1425696
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425696
Optical Brightener Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on optical brightener market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for optical brightener? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The optical brightener market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Optical brighteners are synthetic additives incorporated into liquid detergents, powder formulations, and pigments. These compounds work by converting ultraviolet (UV) light waves into stronger blue light and reducing the presence of yellow light, resulting in a visually whiter appearance for objects. Widely used in various applications, optical brighteners play a crucial role in enhancing the brightness and cleanliness of clothing and other surfaces.
The optical brightener market encompasses various types, including triazine-stilbenes, coumarins, imidazolines, diazoles, and benzoxazolines. Triazine-stilbenes, for instance, address challenges such as poor whitening effects and high costs found in existing brightening agents. These compounds are particularly favored in industrial applications as efficient whitening agents across diverse sectors like paper, fabrics, detergents, soaps, synthetics, plastics, lacquers, ultraviolet tracers, and pigmented lacquers. The end-use industries for these applications range from consumer products, security, textiles, apparel, to packaging.
The optical brightener market research report is one of a series of new reports from The Business Research Company that provides optical brightener market statistics, including the optical brightener industry's global market size, regional shares, competitors with an optical brightener market share, detailed optical brightener market segments, market trends and opportunities, and any further data you may need to thrive in the optical brightener industry. This optical brightener market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The optical brightener market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. During the historic period, growth stemmed from several factors such as the burgeoning textile industry, expansion within paper and packaging sectors, advancements in formulations, consumer inclination toward vibrant colors, the globalization of markets, and innovations in specialty products.
The optical brightener market size is expected to see strong growth in the next few years. It will grow to $1.87 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. Anticipated growth in the upcoming period will likely be driven by heightened utilization in plastics and polymers, spurred by stricter environmental regulations. Factors such as rising disposable income, expanding applications in the automotive industry, and tailored solutions for unique applications are also contributing. Key trends expected include technological advancements in formulations, a shift towards eco-friendly options, broader applications in cosmetics and personal care products, emphasis on brightness and color enhancement, utilization in printing inks, and an uptick in collaborations and partnerships.
The optical brighteners market is poised for growth driven by the surge in manufacturing activities. Manufacturing, an essential sector in the economy responsible for producing goods for commercial purposes, extensively utilizes optical brighteners as a raw material across industries like textiles, synthetics, plastics, detergents, and more. A March 2022 report from the United Nations Industrial Development Organization highlighted a substantial growth of 7 percent in the third quarter and nearly 30 percent in the second quarter of 2021 in manufacturing production within developing and emerging industrial economies. Industrialized European economies also witnessed a 1.8 percent rise in manufacturing production in the final quarter of 2021. Hence, the escalating manufacturing endeavors profoundly influence the expansion of the optical brightener market.
The burgeoning cosmetics industry is set to propel the optical brightener market's growth. Consumer preferences for cosmetics delivering flawless skin, anti-aging benefits, and a youthful radiance have amplified the demand for optical brighteners. These ingredients play a pivotal role in achieving such cosmetic effects. The expanding cosmetics sector is witnessing a notable increase in optical brightener usage, notably in foundational products like concealers, hair care items, and anti-aging formulations. Regulatory endorsements ensuring the safe integration of optical brighteners in cosmetics, alongside the need for product distinction in a competitive market, continue to fuel their incorporation in cosmetic formulations. For example, L'Oreal S.A., a France-based personal care products company, reported substantial sales growth in consumer products and active cosmetics from the third to the fourth quarter of 2022, underscoring the pivotal role of the cosmetics industry in driving the optical brightener market's expansion.
Strategic partnerships and collaborations have emerged as a pivotal trend within the optical brightener market. Leading companies within this sector are actively engaging in strategic agreements and mergers to effectively cater to customer demands. For instance, in May 2022, Brenntag Specialties, a German-based chemical distribution company, forged a new agreement with Archroma, a Switzerland-based specialty chemical and optical brightener producer. This collaboration is aimed at expanding their product portfolio within the realm of home care, household, industrial & institutional (HI&I) cleaning, laundry products, and detergents. Through this partnership, Brenntag Specialties is strategically expanding its market presence in the United States and Canada, leveraging the strengths and resources brought in by Archroma to facilitate their growth objectives.
Prominent players in the optical brighteners market are innovating by introducing advanced spectrodensitometers to secure a competitive advantage in the industry. Spectrodensitometers, crucial for precise color reproduction in printing and imaging, measure color density and spectral characteristics. For example, in August 2022, Techkon USA, a US-based provider of color measurement solutions, introduced SpectroDens 4. This cutting-edge spectrodensitometer amalgamates densitometer and spectrophotometer functionalities. The instrument boasts a suite of features, including OBA-Check for accurately measuring optical brightening agents (OBAs) in paper production. SpectroDens 4 also incorporates a visual opacity measurement compliant with ISO 23498:2020 standards, specifically benefiting graphic technology. Moreover, it facilitates opacity measurement for printed white ink, significantly aiding the printing industry. Its capabilities encompass high-definition spectral sensing, assessment of ink density, color adjustment capabilities, and compliance with industry standards and datasets. This innovation signifies a leap in technology, catering to diverse color measurement needs across various sectors.
In April 2022, Dorf Ketal, a manufacturer based in India specializing in process chemicals and additives for oil refineries, successfully acquired Khyati Chemicals for a total transaction value of $51 million. This strategic acquisition positions Dorf Ketal to venture into the performance chemicals sector, effectively broadening its product range. Khyati Chemicals, an India-based company, specializes in manufacturing optical brighteners.
Major companies operating in the optical brightener market report are BASF Colors & Effects GmbH, Huntsman International LLC, Eastman Chemical Company, Archroma, Clariant AG, RPM International Corp., Keystone Aniline Corporation, Aron Universal Ltd., Brilliant Colors Inc., 3V Company Inc., The Fong Min International Company Limited, Kolorjet Chemicals Pvt. Ltd., Dayglo Color Corp., BoldChem Technology Co. Ltd., Beijing Odyssey Chemicals Co. Ltd., Hebei Xingyu Chemical Co. Ltd., Nantong Huanuo Pigment Co. Ltd., Shandong Joy-ring Chemical Co. Ltd., Shanxi Colorshine Chemical Industry Co. Ltd., Dystar Singapore Pte Ltd., Everlight Chemical Industrial Corporation, Lanxess AG, Ciba Specialty Chemicals, Bayer AG, Dow Chemical Company, Evonik Industries, Solvay SA, Shandong Lukang Pharmaceutical Co. Ltd., Shandong Yisheng Chemical Co. Ltd., Zhejiang Wanjie Co. Ltd.
Asia-Pacific dominated the optical brightener market and is expected to be the largest market in 2023. The regions covered in the optical brightener market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the optical brightener market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The optical brightener market consists of sales of cinnamic acid, coumarin, dicarboxylic acid, diphenyl pyrazoline, and stilbene. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.