The new report by Expert Market Research titled, 'Global Optical Brightening Agents Market Size, Share, Price, Trends, Report and Forecast 2020-2025′, gives an in-depth analysis of the global optical brightening agents market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
- Forecast CAGR (2020-2025): 2%
The global market for optical brightening agents is being driven by their use in the soap and detergent industries, especially in emerging economies. They are used in laundry detergents to make garments look cleaner and clearer, as well as to avoid the yellowing of clothing. Optical brightening agents can also be used as fabric softeners and bleaching agents. Growth in industries such as chemicals, paper, and textiles is responsible for the strong demand for products and is projected to continue over the forecast period. Over the forecast period, the use of optical brightening agents in paper brightening, fibre whitening, and other related applications is expected to further fuel market growth.
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Industry Definition and Major Segments
Optical brightening agents, variously known as fluorescent brightening agents, are chemicals, which find extensive applications in the production of fibres, plastics, inks, coatings, and detergents. They are known for absorbing the light in the violet and UV region of the electromagnetic spectrum and then giving out light in the blue area of the spectrum.
On the basis of type, the market is divided into:
Based on application, the industry is segmented into:
The regional markets for optical brightening agents include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Increasing preferences for scented laundry care products, green products, and the development of new products are likely to accelerate the laundry care industry, which in turn boosts the demand for optical brighteners in the major economies of the world. Europe will contribute to the major market share in the next four years. Throughout the world, optical brighteners are increasingly used for a variety of applications, including paper, plastics, and fabrics. Increased consumption of the product in coated and uncoated paper products will also play a significant role in driving its demand. Government policies allowing manufacturers to procure production and exploration licenses have helped to increase domestic chemical industry foreign investment in countries such as India and China. Government regulations on the toxicity of non-biodegradable optical brighteners, however, are expected to impede the market growth.
Key Market Players
The major players in the market are Huntsman Corporation (NYSE: HUN), BASF SE (ETR: BAS), Clariant (SWX: CLN), Evonik Industries AG (ETR: EVK), and Tsaker Chemical Group Ltd. (HKG: 1986), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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