Luminous Pigment Market - Forecast(2023 - 2028)

Report Code: CMR 37175 Report Format: PDF + Excel

Luminous Pigment Market Overview

The Luminous Pigment Market size is estimated to reach a value of US$2.1 billion by the end of 2027 after growing at a CAGR of around 4.9% from 2022 to 2027. The luminous pigments are synthetically made organic and inorganic compounds that emit visible light or long-wave UV radiation. It is made up of phosphors such as strontium, cadmium sulfides, zinc sulfide and others. Various luminous pigments contain radiant energy sources such as radioactive isotopes for applications at low light such as backlights, signs and others. Radioluminescence, fluorescent paint and phosphorescent paints are used for applications in buildings, emergency signs, inks, oil rigs and others. The high demand of luminous pigments in navigation systems and the construction sector is driving the market. Furthermore, increasing application in medical, aerospace & defense owing to its superior features such as heat resistance, excellent light and improved adhesion will provide major growth opportunities to the luminous pigments industry.

COVID-19 Impact

The disruptions and growth slowdown was faced by the luminous pigments market during the covid-19 outbreak. The halt in production, logistics disturbances and declining demand in the covid-19 affected the market. The luminous pigment has applications in construction, medical, aerospace & defense and other end-use sectors. The demand in the construction sector saw a fall during the outbreak. The social distancing regulations and workforce shortages led to disruption in construction activities. Moreover, the supply of construction raw materials was down, thereby hindering the infrastructural and commercial building projects. According to the World Bank, the global construction sector saw a decline by around 3.1% in 2020, which is considered the worst contraction since 2008. Thus, with the fall in the growth of the construction sector, the application of luminous pigments such as paints, coatings, emergency signs and others saw a decline, thereby restricting the demand for the luminous pigments industry in the covid-19 outbreak.

Report Coverage

The “Luminous Pigment Market Report – Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the luminous pigment industry.

By Type: Phosphorescent, Radioluminescent and Fluorescent.
By Form: Powder and Liquid.
By Raw Material: Zinc Sulfide, Calcium Sulfide, Strontium Aluminate, Alkaline Earth Silicate, Chromates and Others.
By Application: Road Lines, Emergency Signs, Medical Instruments, Oil Rigs, Stadiums and Others.
By End-use Industry: Construction (Residential, Commercial (Hospitals, Educational Institutes, Retail Centers and Others) and Industrial), Medical, Oil & Gas, Aerospace & Defense and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa).

Key Takeaways

  • The luminous pigment market size is growing due to high demand in lighting and painting applications in construction, aerospace & defense, medical and other end-use industries.
  • The Asia Pacific held a dominant share in the luminous pigment market due to rising construction and infrastructure sector, medical and aerospace & defense productions, thereby boosting the demand of luminous pigments in the market.
  • The powdered luminous pigment experiences a high demand in the market due to its rising demand in printing, coatings, inks and paints uses across various industrial verticals.

Figure: Asia Pacific Luminous Pigment Market Revenue, 2021-2027 (US$ Billion)

Luminous Pigment Market

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Luminous Pigment Market Segment Analysis – by Form

By form, the powder segment held the largest luminous pigment market share and will grow at 7.1% during the forecast period. The powdered luminous pigments are available in different colors based on the raw material used. The powder form offers high visible light energy, selective absorption and high yield. The powdered luminous pigments are used for paints, inks, plastics and coatings use in various end-use industries, majorly in the construction sector. The excellent heat resistance, light resistance and cost-efficient features make it an ideal option for architectural coatings, highways, plastics and others. Furthermore, the growing demand for powder form for coloring in buildings and other commercial construction projects is boosting the market. According to the Department for Promotion of Industry and Internal Trade (DPIIT), the FDI for construction and infrastructural projects accounted for USD 25.38 billion between June 2000 to June 2021. Thus, with an increase in production and demand of powder luminous pigments across various industrial verticals, majorly in construction, the global luminous pigment industry will grow in the coming years.

Luminous Pigment Market Segment Analysis - by End-use Industry

By end-use industry, the construction segment held the largest luminous pigment market share and will grow at a CAGR of around 8.4% during the forecast period. Luminous pigments have growing applications in the construction sector for road lines, signs, surface coatings, colorants in building structures and others. The luminous paints emit visible lights or long-wave UV radiations. The phosphorescent pigments made from zinc sulfide emit green color, thereby making it ideal for use in emergency signs, marking lines on roads and decorative use in buildings. Furthermore, fluorescent paints containing radioactive isotopes are used in the facades and roofing applications in commercial buildings. According to the World Bank, the value added in the global construction sector accounted to USD 22.03 trillion in the year 2020. Thus, the rising demand of luminous pigments for applications in the construction sector such as highways, commercial buildings, construction materials and others will offer major growth opportunities in the luminous pigments market during the forecast period.

Luminous Pigment Market Segment Analysis – by Geography

The Asia pacific held the largest market share and is expected to grow at a CAGR of 8.2% in the luminous pigment market during the forecast period. The growing application of luminous pigments in construction, aerospace & defense and medical sector in this region is offering high demand for the luminous pigments market. The growth of construction and infrastructural activities boosted the application of luminous pigments in commercial buildings for paints, inks, emergency signs and others. According to the National Bureau of Statistics of China, the contribution of construction industry output to the GDP of China saw an increase of 6.2% in 2020, compared to the previous year. Furthermore, the growth in construction activities in the APAC region created high demand for the luminous pigments industry. Moreover, the growing application of luminous pigments in the medical sector in the Asia-Pacific boosted the growth of the market. The rise in pharmaceuticals and medication production led to the high usage of luminous inorganic pigments in medicines to provide opacity and color. Thus, with the growing construction sector and flourishing medical industry in APAC, the demand for the luminous pigments market will rise during the forecast period.

Luminous Pigment Market – Drivers

Increasing application in the aerospace & defense industry

The luminous pigment has growing application in the aerospace & defense sector owing to its use in paints, inks, coatings, markings and signs. The luminous pigments offer vibrant color, reflectivity and brightness to the airlines. The phosphorescent paint coating is applied in airlines to enhance the visibility of the tail rotor in low-light or dark operations. Furthermore, fluorescent paints are used in aircraft owing to their light absorbing features during daylight and offers visible light in low-light or dark environment. Moreover, the growing airlines functioning and production post-pandemic are driving the luminous pigments industry. According to the Aerospace Industries Association (AIA), the sales revenue of the aerospace & defense sector accounted for USD 909 billion in 2019, showing a 6.7% increase compared to the previous year. Thus, the growing aerospace & defense industry is driving the market of luminous pigments market and offering major growth opportunities in the market.

High demand from the construction sector

The demand for luminous pigment in the construction sector for applications in building paints, coatings, sign markings, road lines and others is rising. The luminous pigments or paints are used in commercial buildings for coatings, markings, decoration and sign markings. The fluorescent paints have applications for artificial lighting such as theatrical lighting, posters and others in the construction sector. According to the United States Census Bureau, construction spending in the United States was USD 1,677 billion in January 2022, showing an increase of 1.3% compared to the value in December 2021. Furthermore, the rising construction and infrastructural projects is driving the market of luminous pigments, thereby offering growth opportunities to the industry players in the market.

Luminous Pigment Market – Challenges

Rising prices of raw materials and environmental regulations

The luminous pigments are used for various lighting applications such as theatrical lighting, paints and others. The high costs of raw materials for luminous pigments are a major challenge in the global luminous pigments market. The zinc sulfide or zinc prices are rising due to strong demand in the market. The International Monetary Fund report forecasts the rise in zinc prices from USD 2,828 per ton in 2021 to USD 2,859 per ton in 2022. Furthermore, the International Lead and Zinc Study Group (ILZSG) state the rise in global demand for refined zinc to 14.41 million tons in 2022. Moreover, the stringent regulations set by the government on titanium dioxide, which is a raw material for luminous pigments, are likely to hinder the growth of the luminous pigments market. For instance, the EU classified titanium dioxide as a carcinogen under the CLP regulations in February 2020. Thus, the strict environmental regulation for raw materials is creating a challenge for pigment production and growth.

Luminous Pigment Industry Outlook

The top 10 companies in the Luminous Pigment industry are:

  1. BASF
  2. Rosco
  3. Teal & Mackril
  4. Noxton
  5. Lumilor
  6. Puff Dino
  7. Ready Set Glo.
  8. GloNation LLC
  9. AcmeLight
  10. EverGlow NA, Inc.

Recent Developments

  • In July 2021, the Heubach Group and SK Capital Partners announced the agreement to acquire Clariant's pigment business. This will boost the portfolio & innovation and increase in annual sales of the company.
  • In June 2021, the DIC Corporation made the acquisition of the global pigment operations of BASF Colors & Effects (BCE) from BASF in order to boost the portfolio and customer base.
  • In October 2019, AkzoNobel planned to acquire the business of decorative paints and pigment business of Titan S.A.U, with the aim to boost the growth of the paints & coatings, pigments and paint business.

Relevant Reports

Luminous Paint Market -Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2021 - 2026

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Phosphorescent Pigments Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021-2026

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Decorative Paints & Coatings Market - Industry Analysis, Market Size Share, Trends, Application Analysis, Growth and Forecast 2021 - 2026

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1. Luminous Pigment Market - Market Overview
    1.1 Definitions and Scope
2. Luminous Pigment Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Form
    2.3 Key Trends by Raw Material
    2.4 Key Trends by Application
    2.5 Key Trends by End-use Industry
    2.6 Key Trends by Geography
3. Luminous Pigment Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Luminous Pigment Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Luminous Pigment Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Luminous Pigment Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Luminous Pigment Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Luminous Pigment Market – By Type (Market Size - $Million/Billion)
    8.1 Phosphorescent
    8.2 Radioluminescent 
    8.3 Fluorescent
9. Luminous Pigment Market – By Form (Market Size - $Million/Billion
    9.1 Powder
    9.2 Liquid
10. Luminous Pigment Market – By Raw Material (Market Size - $Million/Billion
    10.1 Zinc Sulfide
    10.2 Calcium Sulfide
    10.3 Strontium Aluminate
    10.4 Alkaline Earth Silicate
    10.5 Chromates
    10.6 Others
11. Luminous Pigment Market – By Application (Market Size - $Million/Billion
    11.1 Road Lines
    11.2 Emergency Signs
    11.3 Medical Instruments
    11.4 Oil Rigs
    11.5 Stadiums
    11.6 Others
12. Luminous Pigment Market - By End-use Industry (Market Size - $Million/Billion)
    12.1 Construction
        12.1.1 Residential
        12.1.2 Commercial
            12.1.2.1 Hospitals
            12.1.2.2 Educational Institutes
            12.1.2.3 Retail Centers
            12.1.2.4 Others
        12.1.3 Industrial
    12.2 Medical
    12.3 Oil & Gas
    12.4 Aerospace & Defense
    12.5 Others
13. Luminous Pigment Market - By Geography (Market Size - $Million/Billion)
    13.1 North America
        13.1.1 the USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 the UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 the Netherlands
        13.2.6 Spain
        13.2.7 Russia
        13.2.8 Belgium
        13.2.9 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zeeland
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 the Middle East
            13.5.1.1 Saudi Arabia
            13.5.1.2 UAE
            13.5.1.3 Israel
            13.5.1.4 Rest of the Middle East
        13.5.2 Africa
            13.5.2.1 South Africa
            13.5.2.2 Nigeria
            13.5.2.3 Rest of Africa
14. Luminous Pigment Market – Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. Luminous Pigment Market – Industry/Competition Segment Analysis Premium
    15.1 Company Benchmarking Matrix – Major Companies
    15.2 Market Share at Global Level - Major companies
    15.3 Market Share by Key Region - Major companies
    15.4 Market Share by Key Country - Major companies
    15.5 Market Share by Key Application - Major companies
    15.6 Market Share by Key Product Type/Product category - Major companies
16. Luminous Pigment Market – Key Company List by Country Premium Premium
17. Luminous Pigment Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

1.Global Key Manufacturers Market 2019-2024 ($M)
1.1 BASF Market 2019-2024 ($M) - Global Industry Research
1.2 Rosco Market 2019-2024 ($M) - Global Industry Research
1.3 Teal Mackrill Market 2019-2024 ($M) - Global Industry Research
1.4 Noxton Market 2019-2024 ($M) - Global Industry Research
1.5 Puff Dino Market 2019-2024 ($M) - Global Industry Research
1.6 Lumilor Market 2019-2024 ($M) - Global Industry Research
1.7 GBC Safety Glow Market 2019-2024 ($M) - Global Industry Research
2.Global Key Manufacturers Market 2019-2024 (Volume/Units)
2.1 BASF Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Rosco Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Teal Mackrill Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Noxton Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Puff Dino Market 2019-2024 (Volume/Units) - Global Industry Research
2.6 Lumilor Market 2019-2024 (Volume/Units) - Global Industry Research
2.7 GBC Safety Glow Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Key Manufacturers Market 2019-2024 ($M)
3.1 BASF Market 2019-2024 ($M) - Regional Industry Research
3.2 Rosco Market 2019-2024 ($M) - Regional Industry Research
3.3 Teal Mackrill Market 2019-2024 ($M) - Regional Industry Research
3.4 Noxton Market 2019-2024 ($M) - Regional Industry Research
3.5 Puff Dino Market 2019-2024 ($M) - Regional Industry Research
3.6 Lumilor Market 2019-2024 ($M) - Regional Industry Research
3.7 GBC Safety Glow Market 2019-2024 ($M) - Regional Industry Research
4.South America Key Manufacturers Market 2019-2024 ($M)
4.1 BASF Market 2019-2024 ($M) - Regional Industry Research
4.2 Rosco Market 2019-2024 ($M) - Regional Industry Research
4.3 Teal Mackrill Market 2019-2024 ($M) - Regional Industry Research
4.4 Noxton Market 2019-2024 ($M) - Regional Industry Research
4.5 Puff Dino Market 2019-2024 ($M) - Regional Industry Research
4.6 Lumilor Market 2019-2024 ($M) - Regional Industry Research
4.7 GBC Safety Glow Market 2019-2024 ($M) - Regional Industry Research
5.Europe Key Manufacturers Market 2019-2024 ($M)
5.1 BASF Market 2019-2024 ($M) - Regional Industry Research
5.2 Rosco Market 2019-2024 ($M) - Regional Industry Research
5.3 Teal Mackrill Market 2019-2024 ($M) - Regional Industry Research
5.4 Noxton Market 2019-2024 ($M) - Regional Industry Research
5.5 Puff Dino Market 2019-2024 ($M) - Regional Industry Research
5.6 Lumilor Market 2019-2024 ($M) - Regional Industry Research
5.7 GBC Safety Glow Market 2019-2024 ($M) - Regional Industry Research
6.APAC Key Manufacturers Market 2019-2024 ($M)
6.1 BASF Market 2019-2024 ($M) - Regional Industry Research
6.2 Rosco Market 2019-2024 ($M) - Regional Industry Research
6.3 Teal Mackrill Market 2019-2024 ($M) - Regional Industry Research
6.4 Noxton Market 2019-2024 ($M) - Regional Industry Research
6.5 Puff Dino Market 2019-2024 ($M) - Regional Industry Research
6.6 Lumilor Market 2019-2024 ($M) - Regional Industry Research
6.7 GBC Safety Glow Market 2019-2024 ($M) - Regional Industry Research
7.MENA Key Manufacturers Market 2019-2024 ($M)
7.1 BASF Market 2019-2024 ($M) - Regional Industry Research
7.2 Rosco Market 2019-2024 ($M) - Regional Industry Research
7.3 Teal Mackrill Market 2019-2024 ($M) - Regional Industry Research
7.4 Noxton Market 2019-2024 ($M) - Regional Industry Research
7.5 Puff Dino Market 2019-2024 ($M) - Regional Industry Research
7.6 Lumilor Market 2019-2024 ($M) - Regional Industry Research
7.7 GBC Safety Glow Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Luminous Pigment Market Revenue, 2019-2024 ($M)
2.Canada Luminous Pigment Market Revenue, 2019-2024 ($M)
3.Mexico Luminous Pigment Market Revenue, 2019-2024 ($M)
4.Brazil Luminous Pigment Market Revenue, 2019-2024 ($M)
5.Argentina Luminous Pigment Market Revenue, 2019-2024 ($M)
6.Peru Luminous Pigment Market Revenue, 2019-2024 ($M)
7.Colombia Luminous Pigment Market Revenue, 2019-2024 ($M)
8.Chile Luminous Pigment Market Revenue, 2019-2024 ($M)
9.Rest of South America Luminous Pigment Market Revenue, 2019-2024 ($M)
10.UK Luminous Pigment Market Revenue, 2019-2024 ($M)
11.Germany Luminous Pigment Market Revenue, 2019-2024 ($M)
12.France Luminous Pigment Market Revenue, 2019-2024 ($M)
13.Italy Luminous Pigment Market Revenue, 2019-2024 ($M)
14.Spain Luminous Pigment Market Revenue, 2019-2024 ($M)
15.Rest of Europe Luminous Pigment Market Revenue, 2019-2024 ($M)
16.China Luminous Pigment Market Revenue, 2019-2024 ($M)
17.India Luminous Pigment Market Revenue, 2019-2024 ($M)
18.Japan Luminous Pigment Market Revenue, 2019-2024 ($M)
19.South Korea Luminous Pigment Market Revenue, 2019-2024 ($M)
20.South Africa Luminous Pigment Market Revenue, 2019-2024 ($M)
21.North America Luminous Pigment By Application
22.South America Luminous Pigment By Application
23.Europe Luminous Pigment By Application
24.APAC Luminous Pigment By Application
25.MENA Luminous Pigment By Application