The consumption of optical brighteners has witnessed a significant rise in the past few years owing to the flourishing growth of the textile industry, especially across developing economies such as India, China, Taiwan, Turkey, and Mexico. The rising demand for a variety of skin and sun care products has also boosted the consumption of a variety of optical brighteners globally. The market has, however, suffered a blow owing to a decline in the paper industry, which, until a few years ago, accounted for a large share of the total global consumption of optical brighteners.
Transparency Market Research estimates that the global optical brighteners market will expand at a 4.1% CAGR over the period between 2015 and 2023, rising from a valuation of US$1.12 bn in 2014 to US$1.71 bn by 2023. In terms of volume, the market is expected to expand at a 3.8% CAGR over the said period.
Stilbene to Remain Most Preferred Brightening Agent Globally
Chemicals such as stilbene, diphenyl pyrazoline, coumarin, dicarboxylic acid, and cinnamic acid come under the purview of the products commercially available as optical brighteners in the global market. Of these, stilbene is the most widely used chemical globally, accounting for over 65% share in the global optical brighteners market in 2014.
Owing to the easy and widespread availability of several derivatives and isomers of stilbene that are used as optical brighteners, stilbene is expected to remain the dominant product segment in the global optical brighteners market over the period between 2015 and 2023. Both the Cis and Trns isomers of stilbene are used for manufacturing a large number of commercially used optical brighteners. Moreover, derivatives of stilbene, such as biphenyl-stilbenes and triazine-stilbenes are used as commercial grade optical brighteners across several applications. The global market for stilbene is expected to rise at a 4.1% CAGR from 2015 through 2023.
Rapid Industrialization in Asia Pacific to Stimulate Consumption of Optical Brighteners
Asia Pacific is presently the largest regional market for optical brighteners. The regional accounted for over 38% of the global market’s revenues in 2014. The continuous surge in production of raw materials and the flourishing end-use industries such as detergent, paper, plastics, and ceramics is key to the region’s dominant position in the global optical brighteners market. The regional market is also expected to remain at the forefront of the global market in the near future, expanding at a healthy 5% CAGR from 2015 through 2023 in terms of revenue. Applications across the detergent industry contributed the largest share in the region’s revenues in 2014 and the segment is expected to remain a key contributor to the market’s growth over the forecasting horizon as well.
Europe and North America were the other important revenue contributors to the global optical brighteners market in 2014 and are expected to retain their positions from 2014 through 2023, but witness slight decline in their shares in the global market by 2023. Nevertheless, a plethora of growth opportunities across the detergent and textile industries will enable the optical brightener markets in North America and Europe to expand at higher CAGRs than the Asia Pacific market from 2015 to 2023, at an estimated 8.1% and 7.3%, respectively.
The competitive landscape of the global market for optical brighteners features high consolidation, with the top four vendors, BASF SE, AkzoNobel N.V., Huntsman Corporation, and Eastman Chemical Company, accounted for over 54% share in the market in 2015. Other prominent vendors operating in the global optical brighteners market include Daikaffil Chemicals India Limited, Deepak Nitrite Ltd., Kolor Jet Chemical Pvt. Ltd., Eskay Dyestuffs & Organic Chemicals Pvt. Ltd., Blankophor GmbH & Co. KG, Eastman Chemical Company, Meghmani Dyes and Intermediates Ltd., Zhejiang Hongda Chemicals Co. Ltd., Khyati Chemicals Private Limited, and 3V Sigma.
Optical brighteners or OBA (optical brightening agents) are chemical compounds that are used to enhance the appearance of fabric or paper color, decreainge the natural yellowing of the products and make them appear cleaner. The most common compounds with this property includes stilbene, coumarin, diphenyl pyrazoline, dicarboxylic acid and cinnamic acid among others. Optical brighteners find its major applications in textile, detergents, paper, cosmetics, plastics and ceramics industry among others. Among the compounds stilbene holds the largest market share both in terms of revenue and volume. In the application segment, detergents has acquired the largest market share and is expected to retain the position over the forecast period.
The major drivers driving the global optical brighteners market includes growth in textile industry worldwide. Development of newer materials and fabrics which have improved brightness and enhanced properties is triggering market growth of optical brighteners worldwide. In addition, growth of textile machinery industry in countries such as China, India, Italy, Taiwan, Turkey and Mexico among others drives the growth of optical brighteners market. Rising developments and innovations in these industries is fuelling market growth. Growing cosmetics industry worldwide is another driving factor which is triggering market growth. OBA or the optical brightening agents are used in color cosmetics as they absorb light in ultraviolet and violet region of electromagnetic spectrum so that the material looks brighter and cleaner. The growing cosmetics industry in turn boosting optical brighteners market as well.
The competitive profiling of the key players in the global optical brighteners market across four broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of optical brighteners. The market attractive analysis of the major application areas has been provided in the report, in order to offer a deep insight of global optical brighteners market.
A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2015 to 2023, along with offering an inclusive study of the optical brighteners market.
Some of the major players in the global optical brighteners market are Deepak Nitrite Ltd. (India), BASF India, Eskay Dyestuffs & Organic Chemicals Pvt. Ltd. (India), Daikaffil Chemicals India Limited (India), Khyati Chemicals Private Limited (India), Kolor Jet Chemical Pvt. Ltd. (India), Paramount Minerals and Chemicals Limited (India), Meghmani Dyes and Intermediates Ltd. (India), BASF SE (Germany), Huntsman Corporation (U.S), Archroma (Switzerland), Eastman Chemical Company (U.S), Blankophor GmbH& Co. KG (Germany), Akzo Nobel N.V. (Netherlands), 3V Sigma, (U.S), Zhejiang Transfar Whyyon Chemical Co. (China), Shaanxi Research Design Institute of Petroleum and Chemical Industry (China), Zhejiang Hongda Chemicals Co. Ltd
The global optical brighteners market has been segmented into:
Global Optical Brighteners Market, by Material
- Diphenyl Pyrazoline
- Dicarboxylic Acid
- Cinnamic Acid
Global Optical Brighteners Market, by Application
Global Optical Brighteners Market, by Geography: The market is broadly segmented on the basis of geography into:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America