The long afterglow phosphor Market is projected to grow at a CAGR of 5.29% during the period 2018-2024. Phosphorescence (afterglow) refers to the light emission at room temperature from a material that persists after the removal of the light source. The long afterglow phosphor is the phosphorescent pigment that stores light and emits in the absence of the light source for a considerable amount of time. The material is painted on switch panels in hospitals, industrial workplaces as a warning sign in order to increase the security in different emergencies. The burgeoning need for energy conservation is playing an important role in the increased demand for long afterglow phosphors material. Cost efficiency, environment-friendly, an unlimited period of validity are the few factors that are fueling the demand for such materials. The market is poised to grow at a good rate owing to increasing the use of this material in paints, and flexographic inks that are used in the packaging of a variety of products.
By type, the long afterglow phosphor market is segmented as sulphide type and aluminate type. Aluminate type is set to grow at a significant rate as the strontium aluminate has high persistent time and thus is preferred in many applications
By application, the long afterglow phosphor market is segmented as paints and coatings, inks, and plastics. paints and coatings hold a significant share in the market as paints known as glow-in-the-dark are increasingly being preferred to paint warning signs in the industrial sector, healthcare, and residential sector.
Geographically, the long afterglow phosphor market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Europe held a significant share in the market owing to the presence of a good customer base. With countries such as the UK considering long afterglow phosphor-based paints to replace the streetlights in the future, the market is set to flourish in the region over the forecast period.
Some of the key players include Nemoto & Co., Ltd., ARALON COLOR, NIC Corporation, RC TRITEC LTD., Kremer Pigmente GmbH & Co. KG., Honeywell International Inc., Glow-On, and Glow Inc.
The long afterglow phosphor market has been analyzed through the following segments: