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Slowdown in Travel Industry Due to COVID-19 Affects Demand for Coatings

The coronavirus crisis has impacted the coatings industry. Amy Ericson, senior Vice President at the PPG Industries, Inc. - a global supplier of paints, coatings, and specialty materials, elaborates that almost all countries are sheltering in place for an extended period of time, thus slowing down business in the travel sector. Such trends are affecting sales of coatings, which is emerging as a challenge for manufacturers in the global phosphorescent pigments market.

The staggered growth of the automotive OEM, aerospace, and automotive refinishing sectors is leading to poor consumer sentiment in the phosphorescent pigments market. As such, the packaging sector is fueling the demand for paints and coatings, which is helping stakeholders to keep economies running during the ongoing pandemic. With populations largely sheltering in-home, demand fluctuations have been driven by cultural habits, since in markets such as South America, canned beverage consumption primarily happens outside of the home.

phosphorescent pigments market infographic

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Eco-friendly, Human-friendly Phosphorescent Pigments Found in Sustainable Building Signage

The phosphorescent pigments market is estimated to reach a valuation of US$ 500 Mn by the end of 2031. However, the competition has intensified in the market to innovate in eco-friendly phosphorescent pigments. Unilever is gaining increased recognition for its innovation in first-of-its-kind, glow-in-the-dark company signage on Hive building made from eco- and human-friendly phosphorescent pigments. This is evident since the concept of sustainable buildings is becoming a fast-growing phenomenon everywhere.

Companies are taking cues from Unilever to increase their R&D in eco- and human-friendly phosphorescent pigments that flow with the weather. These pigments show a little less light on cloudy days and a bright light on sunny days. Companies are combining state-of-the-art technologies to create outdoor signage that can visually glow at night in the presence of artificial light sources from buildings and streetlights.

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Photoluminiscent Markings in Demand for Illuminating Dangerous Bends, Pedestrian Crossings

Phosphorescent paint and coatings are creating stable revenue streams for manufacturers in the phosphorescent pigments market. OliKrom - a France-based startup and expert in color intelligence, has introduced its phosphorescent paint, and has been tested in real conditions to guarantee stability and enhanced lighting performance, which is facilitating deployment on road infrastructures. This is indicating that photoluminiscent markings are expected to become increasingly commonplace on road infrastructures in the upcoming years.

Companies in the phosphorescent pigments market are boosting their production capabilities in phosphorescent paints that are being used to materialize anything a motorist may encounter. This is evident since there is a growing need to illuminate dangerous bends, pedestrian crossings, and speed bumps.

Strontium Oxide Aluminate Chemistry Helps Increase Luminescence in Phosphorescent Pigments

Manufacturers in the phosphorescent pigments market are bolstering their production capacities in various phosphorescence masterbatches and compounds for all major polymers. RTP Company - a company committed to providing solutions, customization, and service for all thermoplastic specifications, is increasing its portfolio in phosphorescent pigments that offer an afterglow period up to 10 times longer than ZnS (Zinc Sulfide)-based phosphorescent pigments. This is being achieved by innovating in the strontium oxide aluminate chemistry to develop phosphorescent pigments.

Companies in the phosphorescent pigments market are increasing efforts to meet the demand to increase luminescence and afterglow with longer activation time. The excellent weather and light fastness is being preferred in phosphorescence masterbatches and compounds. In order to boost credibility, manufacturers are avoiding the use of hazardous substances in phosphorescent pigments.

New Generation of Pigments Gain Popularity in Potentially Unlimited Cycles of Use

Next-gen top-performing inorganic phosphorescent pigments are translating into revenue opportunities for stakeholders. The LumiNova® phosphorescent pigments are gaining popularity for optimizing daylight for potentially unlimited cycles of use. Companies in the phosphorescent pigments market are taking cues from such innovations to develop pigments that are dispersible in different carriers and their chemical & physical stability provides excellent long-term performance. The new generation of phosphorescent pigments are giving functional and aesthetic features to many unexpected objects from the daily life.

Manufacturers in the phosphorescent pigments market are experimenting with organic, inorganic, and metal-organic materials to develop pigments. Inorganic materials are acquiring prominence in industrial applications, owing to their flexibility and versatility. Sulfides, aluminates, silicate, and others are inorganic salts doped with ions of rare earths or transition metals to produce crystal powders.

Use of Formaldehyde-free Encapsulation Technology to Produce Dry Organic Pigment Dispersions

Apart from luminescent colorants, manufacturers in the phosphorescent pigments market are expanding their product portfolio in dry organic pigment dispersions in the powder form for universal use. ARALON COLOR - an independent, ISO 9001:2015-certified specialty chemicals company, is being publicized for its ARASTIR-pigment dispersions that are encapsulated organic pigments utilizing the ARALON COLOR formaldehyde-free encapsulation technology.

There is a growing demand for phosphorescent pigments that deliver the exceptional alkaline stability. Companies in the phosphorescent pigments market are generating their income sources through building materials, artist colors, and toys. Building materials such as grouting, sealants, and spray mortar are catalyzing the demand for phosphorescent pigments. Finger paints and play dough are other applications of phosphorescent pigments. Home appliances, exit signboards, and firefighting equipment are helping manufacturers to expand their revenue streams.

Phosphorescent Cycling Paths Emerge as Cost-efficient Solution to Lampposts in France

Road infrastructures are establishing stable revenue streams for manufacturers in the phosphorescent pigments market. Phosphorescent cycling paths are gaining popularity in French cities. These cycling paths hold promising potential as an eco-friendly solution to improve the safety of bikers. Similar to Pessac and other local governments in France, the Metropolis of Nancy is following suite to invest in phosphorescent paint delimiting paths along the riverbanks. Phosphorescent cycling paths are emerging as a cost efficient solution compared to lampposts.

Phosphorescent cycling paths are a cheaper solution to lampposts and help to reduce light pollution. Local government authorities in France are experimenting with new phosphorescent ground signs between rue des Tiercelins and boulevard Charles III, along the canal in Nancy. Such developments are focused on allowing cyclists to easily follow cycling routes in poorly lit areas.

phosphorescent pigments market segmentation

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Analysts’ Viewpoint

The demand fluctuations are evident in the phosphorescent pigments market amid the COVID-19 outbreak, but growth of the packaging industry is helping manufacturers to stay financially afloat. The market is estimated to advance at a modest CAGR of ~5% during the forecast period. This is evident since competition has intensified to increase the availability of eco-friendly phosphorescent pigments that do not contain hazardous substances. Hence, companies should invest in continuous R&D to improve the efficacy of eco- and human-friendly phosphorescent pigments that can be used for sustainable buildings, aircraft, and mining equipment. Road infrastructures and military applications are creating stable revenue streams for manufacturers.

Phosphorescent Pigments Market: Overview

  • Phosphorescent pigments absorb natural light or artificial light and upon removal of the light source, the stored light is gradually released. This provides a lustrous effect. Raw materials used in the manufacture of phosphorescent pigments are zinc sulfide and strontium aluminate. Zinc sulfide is doped with copper or silver, and was initially commonly utilized in the phosphorescent pigments; however, currently, they have been largely replaced with strontium aluminate activated with rare earth metals.
  • Strontium aluminate has 10 times greater luminance than zinc sulfide. The intensity of emitted light depends on various factors such as luminosity of the surrounding light, distance of phosphorescent pigment from the light source, type of phosphorescent pigment, and size of phosphorescent pigments.
  • According to Transparency Market Research’s latest research report on the phosphorescent pigments market for the forecast period of 2021 to 2031, rise in usage of phosphorescent pigments in paints and coatings is a key factor that is expected to boost the global phosphorescent pigments market during the forecast period
  • In terms of revenue, the global phosphorescent pigments market is estimated to reach US$ 500 Mn by 2031, expanding at a CAGR of ~5% during the forecast period

Growth of Paints & Coatings Industry: Key Driver of Phosphorescent Pigments Market

  • Phosphorescent paints are made from phosphors such as silver-activated zinc sulfide or doped strontium aluminate, and typically emit pale green to greenish-blue color. Phosphorescent paints have a sustained glow that lasts for up to 12 hours after being exposed to light, which fades over time. This type of paint has been used to mark escape paths in aircraft and for decor use such as stars that are applied to walls and ceilings.
  • Phosphorescent paints are a substitute to radio luminescent paints. Phosphorescent paint is typically used as a body paint, and on walls and outdoors. When applied as a paint or a more sophisticated coating such as a thermal barrier coating, phosphorescence can be used for temperature detection or degradation measurements known as phosphor thermometry.
  • Phosphorescent pigments are dissolved with PU resins poly acylamonia resins, acrylic resins, amino resins, poly vinyl-alcohol butyl aldehyde resins, etc. These are further stirred with suitable anti-deposition agents, dispersion agent, and erasing foam agents before being used as lacquers, tempera and water colors, and aerosols for the paints & coatings industry.
  • Phosphorescent pigments are employed in paints and coatings to mark hazardous materials, safe passageways, or emergency exits under low-light conditions
  • Phosphorescence properties of phosphorescent pigments are employed for degradation measurement or temperature detection, when applied as a paint or thermal barrier coating
  • Photo luminescent paints are applied in highlighting electrical or plumbing conduits, load-bearing structures, behind unfinished drywall, etc.
  • Rise in demand for phosphorescent pigments in photoluminescent paints and various other coatings is propelling the demand for phosphorescent pigments in the plastic sheets & films industry

Strontium Aluminate Products Dominate Phosphorescent Pigments Market

  • Based on product, the strontium aluminate segment dominated the global phosphorescent pigments market in 2020. This can be primarily ascribed to the increase in the demand for paints and coatings used in various end-use industries, including automobiles and construction.
  • Zinc sulfide is employed in limited applications. Therefore, the zinc sulfide segment is likely to expand at a steady pace during the forecast period.
  • The strontium aluminate segment is anticipated to experience significant growth during the forecast period, as strontium aluminate is used in various industries such as textile, printing, and automotive

Rise in Application of Phosphorescent Pigments in Paints, Coatings

  • In terms of value, the paints & coatings end use segment is estimated to dominate the global phosphorescent pigments market during the forecast period. Increase in demand for paints is anticipated to drive the segment in the near future.
  • The plastics segment offers lucrative growth opportunities to the global phosphorescent pigments market

Phosphorescent Pigments Market: Competition Landscape

  • Detailed profiles of providers of phosphorescent pigments have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global phosphorescent pigments market are
    • Honeywell International Inc
    • Lightleader Co. Ltd.
    • GloTech International Ltd
    • Nemoto Lumi-Materials Co. Ltd
    • Allureglow International
    • Organic Dyes and Pigments
    • Kremer Pigmente
    • Yixing Luminous Material Co. Ltd
    • SINLOIHI CO., LTD
    • Badger Color Concentrates Inc.

Phosphorescent Pigments Market: Major Players

  • Major providers of phosphorescent pigments, such as Allureglow International, GloTech International Ltd, Honeywell International Inc, and Lightleader Co. Ltd., are focusing on research & development, mergers, joint ventures, collaborations, and product innovation strategies
  • In the global phosphorescent pigments market report, we have discussed individual strategies, followed by company profiles of providers of phosphorescent pigments. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global phosphorescent pigments market.

Phosphorescent Pigments Market – Scope of Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global phosphorescent pigments market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global phosphorescent pigments market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global phosphorescent pigments market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global phosphorescent pigments market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global phosphorescent pigments market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global phosphorescent pigments market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).

This study covers a detailed segmentation of the global phosphorescent pigments market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global phosphorescent pigments market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Phosphorescent Pigments Market

The report provides detailed information about the global phosphorescent pigments market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global phosphorescent pigments market, so as to help them design successful strategies and make target-driven decisions.

  • Which end use segment of the global phosphorescent pigments market would emerge as major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of phosphorescent pigments?
  • What would be the Y-o-Y growth trend of the global phosphorescent pigments market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global phosphorescent pigments market?
  • Which product segment is expected to create lucrative opportunities for the global phosphorescent pigments market during the forecast period?
  • Which are the leading companies operating in the global phosphorescent pigments market?

Research Methodology – Phosphorescent Pigments Market

The research methodology adopted by analysts for compiling the global phosphorescent pigments market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global phosphorescent pigments market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global phosphorescent pigments market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global phosphorescent pigments market.

Phosphorescent Pigments Market – Segmentation

TMR’s research study assesses the global phosphorescent pigments market in terms of product, end use, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global phosphorescent pigments market.

Product
  • Zinc Sulfide
  • Strontium Aluminate
End Use
  • Paints & Coatings
  • Plastics
  • Printing Inks
  • Textiles
  • Others (including Electronics)
Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Phosphorescent Pigments Market

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