Rising demand for fluorescent paint from the building & construction industry is driving the global fluorescent paint s market. By type, the daylight fluorescents segment held the major share in 2021. By region, Asia-Pacific would cite the fastest CAGR by 2031.
Portland, OR, Feb. 22, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global fluorescent paint market was estimated at $357.3 million in 2021 and is expected to hit $677.9 million by 2031, registering a CAGR of 6.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $357.3 Million |
| Market Size in 2031 | $677.9 Million |
| CAGR | 6.8% |
| No. of Pages in Report | 420 |
| Segments Covered | Type, Application, and Region. |
| Drivers | Increasing demand from building and construction industry |
| Increasing use of optical whiteners in coated and uncoated paper industry | |
| Restraints | Increasing raw material costs and environmental restrictions |
| Opportunities | Increasing use in the aerospace and defense industries |
Covid-19 scenario-
- The disrupted supply chain across the world gave way to decreased use of raw materials utilized to manufacture fluorescent paint products, which in turn impacted the global fluorescent paint market negatively, especially during the initial phase.
- However, the increased investment in research and development by the government to help the industry got retrieved slowly and steadily.
The global fluorescent paint market is analyzed across the type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the daylight fluorescents segment held the largest market share in 2021 and is the fastest-growing segment with a CAGR of 7.0% during the forecast period.
By application, the road line markings segment held the largest market share in 2021 and on the other hand the safety equipment segment is the fastest-growing segment with a CAGR of 7.4%.
By region, Asia-Pacific held the major share in 2021, the same region would also showcase the fastest CAGR of 7.1% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global fluorescent paint market report include Radiant Color N.V., LuminoChem, Ronan Paints, Glow Paint Industries, GLOWTEC LTD, Krylon Products Group, DayGlo Color Corp, Brilliant Group, Inc., Aron Universal Limited, and Vicome Corp. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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