The consumption of optical
brighteners has witnessed a significant rise in the past few years owing to the
flourishing growth of the textile industry, especially across developing
economies such as India, China, Taiwan, Turkey, and Mexico. The rising demand
for a variety of skin and sun care products has also boosted the consumption of
a variety of optical brighteners globally. The market has, however, suffered a
blow owing to a decline in the paper industry, which, until a few years ago, accounted
for a large share of the total global consumption of optical brighteners.
Transparency Market Research estimates that the global
optical brighteners market will expand at a 4.1% CAGR over the period
between 2015 and 2023, rising from a valuation of US$1.12 bn in 2014 to US$1.71
bn by 2023. In terms of volume, the market is expected to expand at a 3.8% CAGR
over the said period.
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Stilbene to Remain Most Preferred Brightening Agent Globally
Chemicals such as stilbene, diphenyl pyrazoline, coumarin, dicarboxylic
acid, and cinnamic acid come under the purview of the products commercially
available as optical brighteners in the global market. Of these, stilbene is
the most widely used chemical globally, accounting for over 65% share in the
global optical brighteners market in 2014.
Owing to the easy and widespread availability of several
derivatives and isomers of stilbene that are used as optical brighteners,
stilbene is expected to remain the dominant product segment in the global
optical brighteners market over the period between 2015 and 2023. Both
the Cis and Trns isomers of stilbene are used for manufacturing a large number
of commercially used optical brighteners. Moreover, derivatives of stilbene,
such as biphenyl-stilbenes and triazine-stilbenes are used as commercial grade
optical brighteners across several applications. The global market for stilbene
is expected to rise at a 4.1% CAGR from 2015 through 2023.
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Rapid Industrialization in Asia Pacific to Stimulate Consumption
of Optical Brighteners
Asia Pacific is presently the largest regional market for
optical brighteners. The regional accounted for over 38% of the global market’s
revenues in 2014. The continuous surge in production of raw materials and the
flourishing end-use industries such as detergent, paper, plastics, and ceramics
is key to the region’s dominant position in the global optical brighteners
market. The regional market is also expected to remain at the forefront of the
global market in the near future, expanding at a healthy 5% CAGR from 2015
through 2023 in terms of revenue. Applications across the detergent industry
contributed the largest share in the region’s revenues in 2014 and the segment
is expected to remain a key contributor to the market’s growth over the
forecasting horizon as well.
Europe and North America were the other important revenue
contributors to the global optical brighteners market in 2014 and are expected
to retain their positions from 2014 through 2023, but witness slight decline in
their shares in the global market by 2023. Nevertheless, a plethora of growth
opportunities across the detergent and textile industries will enable the
optical brightener markets in North America and Europe to expand at higher
CAGRs than the Asia Pacific market from 2015 to 2023, at an estimated 8.1% and
7.3%, respectively.
The competitive landscape of the global market for optical
brighteners features high consolidation, with the top four vendors, BASF SE,
AkzoNobel N.V., Huntsman Corporation, and Eastman Chemical Company, accounted
for over 54% share in the market in 2015. Other prominent vendors operating in
the global optical brighteners market include Daikaffil Chemicals India
Limited, Deepak Nitrite Ltd., Kolor Jet Chemical Pvt. Ltd., Eskay Dyestuffs
& Organic Chemicals Pvt. Ltd., Blankophor GmbH & Co. KG, Eastman
Chemical Company, Meghmani Dyes and Intermediates Ltd., Zhejiang Hongda
Chemicals Co. Ltd., Khyati Chemicals Private Limited, and 3V Sigma.
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