Phosphorescent Pigments Market Analysis :
Phosphorescence is the process by which energy absorbed by a substance is slowly released in the form of light. Compounds that show this property are called phosphorescent pigments. Some of these pigments include zinc sulfide, strontium, and aluminate and are commonly known as “glow in the dark” pigments. Phosphorescent pigments are extensively used in production of toys, watches, different sporting goods and for decorative purposes. It is also used in signboards for warning and safety.
COVID-19 scenario analysis:
The outbreak of the COVID-19 has significantly affected the global phosphorescent pigments market to a great extent.
- China is one of the major economies of the market. Thus, complete shutdown of the country ceased imports and exports to and from its borders, which affected the global phosphorescent market.
- Moreover, restrictions in national and international transport also affected distribution of goods in the market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Significant increase in applications of phosphorescent pigments in several end user industries such as coatings and ink, electronics instruments, home appliances, sports wears, watch dials, different lighting apparatus, and signboards has led to growth of the phosphorescent pigments market. Phosphorescent pigments are widely used for decorative purposes in the form of paints and coatings and in production of glow-in-the-dark toys. It is also used in several standardized phosphorescent safety signs and directional indicators mainly in low light places such as subways and underground parking spots.
Zinc sulphide with copper was initially used as major phosphorescent pigment in end user industries such as paints and coatings, textiles, and consumer goods. However, later with advanced research and development, strontium aluminate was found to have better phosphorescent properties and emit light for almost 12 hours, which was far better than zinc sulfide. In addition, higher cost of strontium aluminate is anticipated to restrain the market.
The market in Asia-Pacific held largest share of the global phosphorescent pigments market, with China contributing the major share in this region. This is attributed to easy availability of raw materials, cheap labor, and advanced technologies. The market in North America and Europe is also expected to grow at a steady pace in the future.
Key benefits of the report:
- This study presents the analytical depiction of the global phosphorescent pigments industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global phosphorescent pigments market share.
- The current market is quantitatively analyzed to highlight the global phosphorescent pigments market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Phosphorescent Pigments Market research report:
- What are the leading market players active in the phosphorescent pigments market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
- What would be the detailed impact of COVID-19 on the market?
Phosphorescent Pigments Market Report Highlights
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