New York, March 09, 2023 (GLOBE NEWSWIRE) -- The global Optical Brighteners Market is estimated to reach a valuation of US$ 1.64 Billion in 2023 and The global market is estimated to reach a revenue of US$ 2.65 Billion in 2033. The Optical Brighteners Market is stated to increase at a CAGR of 4.9% from 2023 to 2033. The Textile segment is estimated to be a key source, and the segment is estimated to consume about 27.4% of the global market.
The optical brighteners market is projected to grow at a significant rate in the coming years, driven by increasing demand for optical brighteners in various applications such as textiles, paper, detergents, plastics, and cosmetics. Optical brighteners are additives that are used to enhance the brightness and whiteness of materials. They work by absorbing ultraviolet light and re-emitting blue light, making the material appear brighter and whiter.
The report provides a comprehensive analysis of the optical brighteners market, including market trends, drivers, restraints, opportunities, and challenges. The market is segmented based on application, end-use industry, and region. The report also includes a competitive landscape of the optical brighteners market, with profiles of major companies operating in the market, including BASF SE, Clariant AG, Huntsman Corporation, Archroma, and RPM International Inc.
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Recent developments in optical brighteners have enabled manufacturers to produce a variety of Optical Brightener formulations that provide improved performance in various applications. For example, Optical Brightener formulation is now available that offer better whiteness in paper and printing products as well as detergents and fabric care products. Additionally, Optical Brightener formulations can now be optimized for specific end-use applications such as fabric care, rubber production, leather tanning, plastic manufacture etc. This has enabled manufacturers to tailor their Optical Brightener Formulation to meet the needs of their customers more effectively than ever before.
Key findings from the report:
- The textile application segment is expected to dominate the market in terms of revenue during the forecast period, owing to the increasing demand for optical brighteners in textiles to enhance their brightness and whiteness.
- The detergents application segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing demand for laundry detergents that contain optical brighteners.
- Asia Pacific is expected to be the fastest-growing market during the forecast period, driven by the increasing demand for optical brighteners in various end-use industries such as textiles, paper, and plastics.
- The market is highly competitive, with major companies focusing on research and development activities to develop new and innovative optical brighteners.
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Competitive Landscape
- BASF SE
- Huntsman Corporation
- Eastman Chemical Company
- Archroma
- Milliken and Company
- Clariant AG
- Meghmani Organics Ltd
- Zhejiang Transfar Chemical Co., LTD
- Rudolf GmbH and others
The global market is consolidated, with the top 5 players in the market estimated to collectively hold about 30% - 35% of the global optical brighteners market share.
- In April 2022, research-based specialty chemicals manufacturer Dorf Ketal entered into an agreement to acquire the business of Ahmedabad-based Khyati Chemicals. Khyati Chemicals is the second-largest player in the optical brightening business and has valuable customers such as Unilever, Ghadi, and Trident India, among others.
- In October 2020, Mayzo Inc, a leading supplier and manufacturer of specialty chemicals, announced the acquisition of Bio Accutech Inc., a distributor of specialty chemicals for the coatings, inks, and plastics markets. This acquisition is estimated to enable Mayzo to extend its global supply chain and add several new optical brighteners, photoinitiators, and PVC additives to its portfolio.
- In July 2019, BASF India Limited entered into an agreement to divest its stilbene-based Optical Brightening Agents (OBA) business for paper and powder detergent applications to Archroma India Private Limited, a member of the Archroma group, a global leader in colour and specialty chemicals
- In January 2019, Archroma, a global leader in color and specialty chemicals announced the introduction of a new optical brightening agent, Leucophor AFCN liquid that is specially designed for food packaging and paper.
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Optical Brighteners Market Segmentations-
- By Type -Stilbene, Coumarin, Diphenyl pyrazoline, Others
- By Application - Detergents, Textiles, Papers, Cosmetics, Plastics, Others
- By Region - North America, Latin America, Europe, Asia Pacific, Middle East and Africa (MEA)
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