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Rising Demand for Skincare Products to Boost Growth Prospects of Global Optical Brighteners Market, Reports Tmr

  • Date Submitted: 09/06/2016 04:48 AM
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In the highly consolidated global optical brighteners market, the top four vendors, including BASF SE, AkzoNobel N.V., Huntsman Corporation, and Eastman Chemical Company, accounted for over 54% share in the market in 2015, states TMR in a recent report. BASF SE, the leading company of these four, accounted for nearly 22% of the market in the same year.

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Key players in the market are focusing on expansion across lucrative emerging markets in Asia Pacific. BASF SE, for example, inaugurated a new research and development center in Navi Mumbai, India in March 2015; it already has a sprawling chemical production complex at Dahej in Gujarat, India. Mergers and acquisitions with specialty chemical manufacturers in developing regions, focus on the production of organic products, and production of quality intermediates are among other prominent strategies adopted by key vendors in the market.

Booming Textile and Cosmetics Industries to Provide Substantial Growth Opportunities

The textile industry is one of the most prominent consumers of a variety of optical brighteners. In the past few years, the flourishing growth achieved by the textile industry, especially across emerging economies such as India and China, has greatly influenced the total global demand for optical brighteners. According to the Indian Ministry of Textiles, the textile industry in the country is expected to expand at a strong CAGR of 11% over the period between 2009 and 2020, aiding the increased consumption of optical brighteners in the Asia Pacific market.

The market for optical brighteners is also expected to substantially benefit from the booming cosmetic industry globally. Rising disposable incomes and a vast surge in the global demand for skincare and suncare products have encouraged the growth of the global cosmetics market in the past few years. Being another prominent...

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