Luminous Paint Market Overview

Luminous Paint Market size is forecast to reach $20.23 billion by 2026, after growing at a CAGR of 9.2% during 2021-2026. The paint that exhibits luminescence is known as luminous paint. The paint gives off the visible light through fluorescence, phosphorescence, or radio-luminescence. Fluorescent Paint produces a color that is four times brighter than ordinary paints and leaves a coating of particles. Phosphorescent paint is a luminous product manufactured with the highest grade strontium aluminate pigments that can be recharged indefinitely by light and generate an afterglow for hours without the use of UV lights. These paints contain different radio-active and non-radio-active elements. The major growth is due to the increase in the navigation industry for making road signs and emergency signals.

COVID-19 Impact:

The biggest disruptive force in the global paint industry has been Covid-19. Due to operational challenges under COVID-19 safety protocols, the paint industry is expected to contract further in 2021. Due to the business challenges created by inflationary pressure and uncertain market conditions, a considerable emphasis would be placed on managing the business in a dynamic manner and shifting operational priorities to suit changing market conditions. Because of the increased demand for organic chemicals due to the spread of the coronavirus around the world, manufacturers, suppliers, and online sellers are on the verge of raising the costs of organic chemicals products. Prices of primary dye intermediates are up more than 30% from the average price in the same time frame in comparison to 2019, which would have a cascading negative impact on the market. This is likely to rise the raw material price making the organic paint more costly. There is certainty that the market will bounce back to normalization in the forecast period on par with recovery in economy.

Report Coverage

The report: “Luminous Paint Market - Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Luminous Paint Industry.

By Type: Fluorescent Paint, Phosphorescent Paint and Radio-luminescence Paint.

By Material: Zinc Sulfide Powder, Calcium Sulfide Powder, Strontium-90 (Sr-90), Tritium (H-3) and Promethium (Pm-147), Radium-226 (Ra-226) and Others.

By Application: Road Signs, Watches, Ceramic Tiles, Emergency Signs, Military Instruments, Home Décor, Cosmetics, Medical Instruments and Others.

By End Use Industry: Transportation Industry, Medical & Healthcare Industry, Building & Construction, Defense Industry, Oil and Gas Industry and Others.

By Geography: North America (U.S, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and RoW (Middle East and Africa).

Key Takeaways

·         Asia Pacific dominates the Luminous Paint Market owing to rapid increase in the infrastructural development projects.

·         The market drivers and restraints have been assessed to understand their impact over the forecast period.

·         The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.

·         The other key areas of focus include the various applications and end use industry in Luminous Paint Market and their specific segmented revenue.

·         Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Luminous Paint Market related industries has been negatively affected, thus hampering the growth of the market.

 

Figure: Luminous Paint Market Revenue, 2020-2026 (US$ Billion)