WELLESLEY, Mass., Jan. 08, 2018 (GLOBE NEWSWIRE) -- The rapidly growing textile industry and global cosmetics industry is a key reason behind the high demand for optical brightening agents (OBA). Also, emerging technologies are yielding new OBAs that have superior compatibility with recycled fibers, which will boost the expanding recycled fiber industry. In a new report, Global Markets for Optical Brighteners, BCC Research estimates the global OBA market will reach $1.7 billion and $2.1 billion in 2017 and 2022, respectively, demonstrating a compound annual growth rate (CAGR) of 4.3%.
The global OBA market depends on factors such as price volatility of raw materials, product innovation, economic outlooks in both producer and consumer countries, and consumer acceptance of various OBA products. In developing countries, the acceptance of chemical OBAs (based on raw materials such as stilbene, coumarin, diphenyl pyrazoline, cinnamic acid, etc.) will be a key driver.
Several regions, including Asia-Pacific, Middle East and Africa (MEA), and Latin America, should experience significant market growth. North American and European markets will grow slowly. The Asia-Pacific region is expected to achieve the strongest growth (5.3% CAGR). India and China, in particular, with their high degree of industrialization, increased manufacturing activities, growing populations and rising demand for better lifestyles, should undergo major market expansion. As an example of this region’s strength, Japan holds the largest number of OBA patents, which will help its chemical manufacturers expand their businesses.
Some of the major players involved in the manufacturing of OBA mentioned in this report include 3V Sigma, Huntsman Intl. LLC, BASF SE, Archroma, Eastman Chemical Co., Blankophor GmbH, Akzo Nobel N.V., among many others.
Research Highlights
- Global demand for optical brighteners was 18,605 tons in 2016 and is expected to increase to 23,219 tons by 2022 at a CAGR of 3.8%.
- By chemical type, the global optical brighteners market is segmented into stilbene, coumarin, diphenyl pyrazoline, dicarboxylic acid, cinnamic acid and others.
- The detergent industry is expected to be the largest end user of OBAs followed by textiles, paper, plastics and cosmetics, respectively.
“Optical brightener producers are mainly forward integrated and sell their products through distributors, which include, online and independent distributors, company owned distribution centers and retail,” said Abhigyan Sengupta, BCC Research analyst and author of the report. “Major manufacturers such as Kolor Jet Chemicals, Eskay Dyestuffs & Organic Chemicals Pvt. Ltd., Khyati Chemicals, and Archroma are actively involved in business-to-business sales channel distribution and sell their products to textile, detergent, paper, cosmetics and plastics manufacturers.”
About BCC Research
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