Optical brighteners market size worth $1.11bn by 2024

14th June 2016

Jordan Mulcare

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The global optical brighteners market is expected to reach $1.11bn by 2024, according to a new report by Grand View Research. 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 & 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 & apparels which will influence industry expansion over the next few years.

Key Findings:

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 kilo tons 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 & soaps in countries including India, China, U.S., and Saudi Arabia will play a significant role in influencing growth over the forecast period.

Market Segmentation: