Global optical brighteners market will witness a CAGR of 4.5% between 2020 and 2030, to exhilarate post Covid-19 Era
Published On : Nov 04, 2020
Optical brighteners market is driven by an extensive demand in soaps and detergents. It is a proven fact that using optical brighteners helps clothes look cleaner and brighter. The other application areas include bleaching activities in paper and pulp industry and also in cosmetics industry. Both – uncoated and coated products use optical brighteners.
Europe has been housing maximum manufacturers of optical brighteners, but, of late, both – North America and Europe have been shifting their bases to Latin America and the Asia-Pacific. Also, the US and Europe have been subject to paper mills’ closure. This is another factor responsible for exodus of production of optical brighteners from these two regions.
Besides, demand for the fluorescent whitening agents has been increasing on the account of applications like teeth whitener, paper whitening, fabric softeners. The Asia-Pacific rules the roost herein.
PMR states that the global optical brighteners market will witness a CAGR of 4.5% between 2020 and 2030.
Key Takeaways from the Optical Brighteners Market
- By application, the “paper” sector holds the largest market share. This could be atributed to growing demand from countries like Thailand, Indonesia, China, and India. Demand for paper has also increased amidst plastic ban.
- The “fabric” sector is expected to take over the “paper” sector in the upcoming period. This could be reasoned with key players opting for several formulations for developing end-products of high quality.
- By end-use, it’s the “consumer products” eating the pie, as governments in the economies like India and China are extending support to their local institutions and manufacturers regarding conduction of an extensive research, so as to gain a competitive edge.
- The Asia-Pacific is the major revenue generator – Indonesia in particular. It does export raw material known as DAST (diaminostibenedisulfonic acid). Moreover, industrialization in China and India are pushing the growth of optical brighteners market.
How is the optical brighteners market structured?
The key players in the optical brighteners market include Clariant AG, BASF SE, Keystone Aniline Corporation, and Huntsman Corporation. Amongst them, BASF SE is deeply engaged in the development of a broad spectrum of optical brighteners like Tinolux, Tinocat, and Tinopal. The company is also known for developing a plethora of new-fangled technologies to enhance production capacity.
Impact of Covid-19 on Optical Brighteners Market
The outbreak of Covid-19 has slowed down the production of optical brighteners due to partial/total lockdowns enforced all through. The slow pace has, in turn, resulted in sluggish growth of optical brighteners market since Mar 2020. The scenario is expected to persist till mid-2021 (till then, Covid-19 vaccine is expected to be in place).
“The global optical brighteners market will move at a supersonic speed in the forecast period barring the slow patch of the ongoing pandemic. Once the normalcy starts getting restored, there won’t be any looking back for the market”.
The global optical brighteners market is expected to be on to the growing spree between 2020 and 2030, but post-Covid-19.
Optical Brighteners Market
Global Market Study on Optical Brighteners: Rising Adoption being Witnessed in Textile, Paper, and Chemical Industry
Global Market Study on Optical Brighteners: Rising Adoption being Witnessed in Textile, Paper, and Chemical IndustryRequest TOC