Fluorescent Pigment Market for Security and Currency Applications Outlook 2028

Fluorescent pigments are used widely in currency notes for security, identification, coding and anti-counterfeiting. The global fluorescent pigment market for security and currency applications is anticipated to grow with a CAGR of 4.9% during the forecast period, i.e., 2021-2028. Factors such as the increasing concerns related to the safety of currency notes across countries worldwide, and the rising incidences of counterfeiting of currencies, followed by the need to lower such incidences are expected to contribute to the market growth during the forecast period. The market garnered a revenue of USD 374.8 Million in the year 2020, and is further projected to touch USD 543.6 Million by 2028.

The global fluorescent pigment market for security and currency applications is segmented by numerous segments, which include segmentation by product type, state, application, and by region. Based on product type, the market is segmented into organic fluorescent pigment and inorganic fluorescent pigment. Out of these, the organic fluorescent pigment segment is expected to hold the highest market share of 78.63% in the year 2021. The segment is also anticipated to garner a revenue of USD 422.5 Million by the end of 2028.

On the basis of geographical analysis, the global fluorescent pigment market for security and currency applications is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Out of these, the market in the Asia Pacific is expected to hold the highest market share throughout the forecast period. Moreover, by the end of 2028, the market in the region is projected to touch USD 158.2 Million by growing with a CAGR of 5.8% during the forecast period.

Some of the prominent industry leaders in the global fluorescent pigment media market that are included in our report are Radiant Color NV, Hangzhou Aibai Chemical Co. Ltd., Organic Dyes and Pigments LLC, Luminochem Ltd., Ukseung Chemical Co. Ltd, Aron Universal Limited and others.