(I-BusinessNews.Com, May 23, 2021 ) Optical Brighteners Market is forecast to reach $1.8 billion by 2026, after growing at a CAGR of 9.5% during 2021-2026. The global optical brighteners market is growing at a significant rate owing to the increasing demand for the brighteners in the emerging markets and the growing use in the applications such as paper, fabrics, detergents and soaps. Optical brighteners are compounds which absorb the ultraviolet light and emit blue light through a process known as fluorescence. The brighteners have properties such as heat resistance, chemical stability, low volatility, and high solubility in organic solvents.
Optical Brighteners Market Segment Analysis – By Application
Synthetics & Plastics sector has dominated the market for optical brighteners market in 2020. The growing use of optical brighteners in several end users such as papers, textiles, plastics, and detergents industry drive the growth of the optical brighteners market. It is commonly used in the plastic industry as additives that impart brightness to polymers and intensify the degree of whiteness. Optical brighteners are used in engineering plastics like thermoplastic polyurethanes, styrene homo, and copolymers, polyvinylchloride (PVC), and Polyolefins among others. Additionally, they have vast uses for whitening and brightening of linen, wool, silk and cotton and polyester in the textile industry. However, the growing environmental pollution is causing a reduction in the use of optical brighteners in the detergent industry, which is likely to hamper the market growth. Furthermore, the growing use of optical brighteners in cosmetic products is providing beneficial opportunities for the growth of the optical brighteners market.
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Optical Brighteners Market Segment Analysis – By End-User
Consumer products sector has dominated the market for optical brighteners market in 2020, by growing at a CAGR of XX%. Governments of emerging economies such as China and India are supporting their local manufacturers and institutions for R&D of optical brighteners-based products to increase their production volumes. Upcoming development in consumer products projects in various countries including Germany, France, China, and India in the chemical industry are also boosting the market expansion. Declining oil prices have resulted in fluctuations in raw material prices and volatility in the market. Resellers and users of optical brighteners have witnessed lowering of margins owing to this trend.
Optical Brighteners Market Segment Analysis – By Geography
Europe dominated the Optical Brighteners Market share with more than XX%, followed by APAC and North America. It projected to expand further due to escalating product demand from the soaps and detergents sector in the region. Indonesia is one of the key raw material suppliers to various manufacturers in Europe and hence, it exports a considerable amount of raw material such as diaminostilbenedisulfonic acid (DAST) to European manufacturers. Indonesia optical brighteners market is expected to experience significant growth on account of growing consumer demand for whitening agents from various consumer products including soaps, dishwashing agents, and detergents. Increasing investments from various multinational companies are expected to be a crucial factor for the rising production capacities. Rapid industrialization coupled with expanding paper and textile industries in emerging economies such as India and China are expected to be the key factor for region’s growth. Rise in foreign direct investments in India is also expected to contribute toward market growth in the next few years.
Optical Brighteners Market Drivers
Growing applications in the printing inks and photo processing industries is a major opportunity in the optical brighteners market
Growing applications in the printing inks and photo processing industries is a major opportunity in the optical brighteners market. It has been seen that the printing companies are using the brighteners in the paper during the manufacturing process. The brighteners help in absorbing the ultraviolet light and emit the same which makes the paper look whiter. According to the Indian Papers Manufacturers Association, it is seen that the Indian printing industry is growing at an annual rate of 12.0%. This growth in turn is leading to the increased opportunity in the market.
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Optical Brighteners Market Challenges
Stringent government regulations and health hazard
Stringent government regulations imposed on the use of some of the brightener’s chemical agents is acting as a restraint in the growth of the optical brighteners market. However, optical brighteners are not biodegradable and also can cause allergic reaction to the end-user, which may hamper the demand of the optical brighteners and restrain the growth of the global market. According to Registration, Evaluation, Authorization, and Restriction of Chemical substances (REACH), the brighteners cause allergic skin reaction and eye irritation; thus, posing as a health hazard. This has led to the restricted use of these brighteners in the different agents, thus acting as a restraint in the market.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Optical Brighteners Market. In 2020, the market of Optical Brighteners has been consolidated by the top five players accounting for xx% of the share. Major players in the Optical Brighteners Market are BASF SE, Day-Glo Color Corp., Clariant AG, Huntsman International LLC, Eastman Chemical Company, Archroma Management LLC, Milliken & Company, Blankophor GmbH & Co. KG, MPI Chemie B.V., Rudolf GmbH, among others.
Key Takeaways
Currently, optical brighteners are the most extensively used chemicals in the detergents and soaps sector.
Consumption of optical brighteners in laundry detergents help the clothes to look brighter and cleaner. The aforementioned factors are projected to drive the demand for optical fibers over the forecast period.
The major growth drivers identified in the optical brighteners market are the growing textile and apparel industry in APAC region, rising demand for biodegradable brighteners, and the growing demand from the cosmetics industry. It has been seen that with the changing lifestyle of the consumers and increasing disposable income, there is a growing demand for the textiles among consumers. In order to meet growing demand for keep the clothing brighter among consumers, use of optical brighteners in textiles to counteract the yellowness of the fabric and emit blue light rays has increased by textiles producers.
However, the end use industries are being significantly affected due to the COVID-19 pandemic, as most of the countries have issued “stay at home guidance” i.e., lockdown. This factor is limiting the market growth in current situation.
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