The global fluorescent paint market is expected to possess high growth potential in the coming years, as the use of optical whiteners in the coated and uncoated paper industry is increasing and also the demand from the building and construction industry is increasing. However, the increasing raw material costs and environmental restrictions are hampering the market. In addition, the increase of fluorescent paint in the aerospace and defense industries is providing the market with lucrative opportunities in the future.

According to a new report published by Allied Market Research, titled, “Fluorescent Paint Market," The fluorescent paint market was valued at $357.3 million in 2021, and is estimated to reach $677.9 million by 2031, growing at a CAGR of 6.8% from 2021 to 2031.

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Fluorescent paint is a specialty color pigment that is utilized in a variety of applications to enhance the visual attractiveness of items. Fluorescence is the process through which short-wavelength light travels through the visible portion of the electromagnetic or ultraviolet spectrum. This is absorbed and subsequently emitted using longer wavelengths. The spectrum of the re-radiation is often in the visible range.

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COVID-19 analysis
• During the covid-19 outbreak, there was a decline in building industry demand. Regulations mandating social distancing and labor shortages disrupted construction efforts.
• In addition, there was a shortage of construction raw materials, which hindered infrastructure and commercial development projects. According to the World Bank, the global construction industry experienced a decline of approximately 3.1% in 2020, the biggest contraction since 2008. As a result, the application of fluorescent paint, such as paints, coatings, emergency signs, and others, decreased as the building industry’s expansion slowed, limiting the demand for the fluorescent paint market during the covid-19 pandemic.
• The development of the other economic sectors is halted but not disregarded. Due to the lack of available raw materials for manufacture, the industrial units are suffering. This is damaging the supply chain system and paving the road for economic losses in certain areas.
• Therefore, the government is investing in the research and development industry to help these industries. It will contribute to the product portfolio, product development, and product launches that are likely to assist the competitive players in becoming global leaders. The major market strategies that will enable the market to achieve the anticipated market value for fluorescent paint by the conclusion of the forecast year are also a key area of focus.

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Key findings of the study
• On the basis of type, the daylight fluorescents segment is expected to grow at a CAGR of 7.0%, in terms of revenue, during the forecast period.
• Depending on application, the safety equipment segment is expected to grow at a CAGR of 7.4%, in terms of revenue, during the forecast period.
• Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue.

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FREQUENTLY ASKED QUESTIONS?
Q1. What is the estimated industry size of Fluorescent Paint?
Answer: The fluorescent paint market attained $357.3 million in 2021 and is projected to reach $677.9 million by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

Q2. What segments are covered in Fluorescent Paint Market?
Answer: The fluorescent paint market is segmented into type, application, and region. Depending on the type, the market is divided into Inorganic fluorescents, optical whiteners, and daylight fluorescents. On the basis of application, it is categorized into safety equipment, commercial buildings, road line markings, facilities, and others.

Q3. Which are the top companies to hold the market share in Fluorescent Paint?
Answer: Radiant Color N.V., LuminoChem, Ronan Paints, Glow Paint Industries, GLOWTEC LTD, Krylon Products Group, DayGlo Color Corp, are the top companies to hold the market share in Fluorescent Paint.

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