Global Optical Brightener Market to Reach $11 Billion by 2024

 

The global optical brighteners market is expected to reach $11 billion by 2024, according to a new report by Grand View Research Inc., San Francisco, Calif., USA. Rising demand for optical brighteners from various industries including paper, personal laundry, textiles, and cosmetics to improve illumination of the finished product is expected to be a principal factor in stimulating growth over the forecast period. 

Increasing demand for whitening agents from the paper industry owing to their ability to impart superior brightness is expected to improve product penetration over the forecast period. Paper accounted for 35.8% of the global volume share in 2015. Growing consumer demand for paper from emerging economies including India and China is expected to propel expansion over the forecast period. 

Textiles and apparels are one of the major end-uses of optical brighteners and are projected to witness significant growth at a 6.1% CAGR from 2016 to 2024. Increasing competitiveness among textile and garment manufacturers in Asia Pacific on account of high consumer demand has resulted in a significant rise in production volumes. This in turn has made a positive impact on the product demand owing to its ability to impart various shades of white to textiles and apparels which will influence industry expansion over the next few years.

The full report can be accessed online. Key Findings include:

• European optical brighteners market is expected to grow at a CAGR of 6.4% from 2016 to 2024 in terms of volume. Germany, France, and Italy are expected to be key markets on account of a positive outlook of the cosmetics industry. 
• The demand for optical brighteners in consumer products was 59.4 kilotons in 2015. Various government policies including FDI and "Make in India'' is expected to drive the Indian paper and textile industries. Rising demand for detergents and soaps in countries including India, China, U.S., and Saudi Arabia will play a significant role in influencing growth over the forecast period.