"Optical brighteners market to grow at a CAGR of 9.6%”
The optical brighteners market size is estimated to reach USD 1.05 billion by 2020 at a CAGR of 9.6% between 2015 and 2020. Light fastness, low volatility, chemical stability, and heat resisitance are the key properties of optical brighteners, which make it the preferred material for various applications. Optical brighteners provides industries with immense development opportunities of newer materials, which have enhanced properties and improved brightness, thus driving the market growth.
Growing consumption of optical brighteners in coated as well as uncoated paper play a significant role in driving the market. Optical brighteners are also used in the production of uncoated fine paper, particularly in uncoated fine paper grades containing high-yield pulp (HYP). Increasing level of whiteness and the HYP substitution in fine papers have increased the importance of optical brighteners globally in the recent years. The Indian government has started investment promotion programs to assist companies that are developing and manufacturing paper, pushing the growth of this market upward.
Growing innovation and development, along with increasing demand from the consumer industries for better paper products, are directly increasing the demand for paper in optical brighteners market.
“Rising demand in Asia-Pacific is the major growth driver for Optical Brightener market “
In 2015, Europe was the largest market for optical brighteners but Asia-Pacific registered the highest growth rate during the period forcasted between 2015 and 2020. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India. China is the second largest market (after U.S.) for optical brighteners globally with major demand from paper application. Growing innovation and developments and demand in the consumer industries for better products is directly affecting the rise in the use of optical brighteners in Asia-Pacific region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 34%, Tier 2 – 33%, and Others – 33%
- By Designation - C level – 12%, Director level – 25%, and Others – 63%
- By Region - North America – 30%, Europe – 27%, Asia-Pacific – 32%, and RoW- 11%
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the Optical brightenrs market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions.