Global Optical Brighteners Market report published by Accurize Market Research forecast that the global market is expected to reach $2,522 Million by 2025; growing at a CAGR of 4.1% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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The rising tourism industry, advancement in the standard of living and hectic lifestyle to drive the growth of the market
Surging demand for bio-based surfactants and growing product demand due to its exceptional features including low volatility, chemical stability, heat resistance, and lightfastness fuel the demand for the global optical brighteners market. Furthermore, a huge investment by the government in persuasive campaigns to develop the paper & textile industry also boosts the growth of the market.
Market Segmentation
The global optical brighteners market has been bifurcated on the basis of chemicals, application, and geography. By chemicals, the segmentation is stilbene, coumarin, diphenyl pyrazoline, dicarboxylic acid, cinnamic acid, and other chemicals. Furthermore, the application segment is sub-segmented into textiles, detergents, paper, cosmetics, plastics, ceramics, and other applications.
By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in the U.S., and the Rest of North America whereas Europe consists of the UK, Germany, France, and the Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
“Stilbene accounted for the major market share in the chemicals segment”, says Accurize
In the chemicals segment, stilbene contributed for the majority of the market share in 2017and is expected to continue its trend during the forecast period 2017 – 2025. The high progression of the segment is attributed to the easy and prevalent availability of several isomers and derivatives of stilbene that are used as optical brighteners.
In the application segment, textile occupied the foremost market share in 2017, owing to the flourishing growth in the textile industry in developing economies. In terms of growth, detergents are expected to witness the fastest CAGR 2017 – 2025, due to the major application of detergents whiteners in the optical brighteners.
“Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific dominated the market with 37.2% market share in 2017owing to significant growth of end-use industries such as consumer products, textiles, and packaging, especially in countries such as India and China. Also, Asia-Pacific is probable to attain the fastest CAGR during the forecast period.
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Top players in the market
The key players are operational in the market includes Huntsman Corporation, Clariant AG, BASF SE, Keystone Aniline Corporation, 3 V Incorporation, RPM International Corp., Brilliant Colors Inc., Archroma, The Fong Min International Company Limited, and Aron Universal, among others.
