Global Luminous Paint Market Report 2024

The luminous paint market size has grown strongly in recent years. It will grow from $14.01 billion in 2023 to $15.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to consumer awareness and preference, military and defense applications, demand from automotive sector, healthcare sector requirements, demand from construction industry.

The luminous paint market size is expected to see rapid growth in the next few years. It will grow to $22.5 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The expansion anticipated in the forecast period can be credited to the growth of the tourism and entertainment sector, stricter environmental regulations promoting sustainability, rising demand from various end-use industries, heightened awareness regarding safety measures, as well as the ongoing processes of urbanization and population expansion. Key trends expected during the forecast period comprise the burgeoning construction industry, an upsurge in decorative and artistic applications, a notable emphasis on eco-friendly formulations, heightened adoption within the automotive sector, and the integration of these paints with smart technologies.

The anticipated surge in demand for luminous paint is driven by the increasing need for infrastructure projects in commercial buildings. These projects involve extensive construction endeavors aimed at developing, renovating, or expanding properties such as office buildings, retail centers, hotels, and mixed-use developments. Factors such as urbanization, the call for contemporary office spaces, technological advancements necessitating updated building systems, and a sustainability agenda prompting energy-efficient upgrades contribute to the growth of infrastructure projects in commercial areas. Luminous paints play a crucial role in enhancing safety and aesthetics within these buildings, offering visible signage, emergency lighting, and decorative elements that aid in navigation and branding. For example, data from the quarterly construction inquiry by the Northern Ireland Statistics and Research Agency for the period between the first quarter of 2022 and the first quarter of 2023 showed a 6.5% expansion in the overall construction industry, with the housing sector growing by 11.1% and the infrastructure subsector by 3.7%. Consequently, the burgeoning demand for infrastructure projects in commercial buildings is propelling the luminous paint market's growth.

Leading players in the luminous paint sector are actively developing luminescent photoactive materials to enhance their products' performance and versatility. These materials boost the brightness, longevity, and adaptability of luminous paints, making them suitable for safety signage, decorative elements, and novelty items. This aligns with the escalating demand for innovative glow-in-the-dark solutions across diverse industries. For instance, in January 2022, Luminochem, a Hungary-based company specializing in innovative luminescent photoactive materials, introduced unique luminescent photoactive materials and markers, focusing on organic fluorescent security pigments and dyes, as well as near infra-red absorbing materials, thereby enriching its product portfolio and fostering growth.

In August 2023, Akzo Nobel N.V., a Netherlands-based paint and coating manufacturer, acquired Sherwin-Williams' Chinese decorative paints business for $109 million. This acquisition is poised to bolster AkzoNobel's presence in China, facilitate further market segmentation, and reinforce its position beyond the premium segment. Sherwin-Williams, a US-based manufacturer of photoluminescent paint, stands as a significant player in this arena.

Major companies operating in the luminous paint market are Rust-Oleum Corporation, Rosco Laboratories, DayGlo Color Corp., Tec Star LLC, Star Nail International LLC, Lumiflon America Inc., Teal and Mackrill, ADS Group, Glow Inc., Defense Holdings, GloTech International, Glow Tec UK Ltd., PUFFDINO Trade Co. Ltd., Art 'N Glow LLC, EverGlow NA Inc., Glow Products Canada Inc., Glow-Mania LLC, Glowway Oy, Jolie Paint LLC, Lumilor LLC, Luminova Corporation, Luminox USA Inc., Noxton Company, SolarColorDust LLC, Wildfire Lighting.

Asia-Pacific was the largest region in the luminous paint market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the luminous paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the luminous paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Luminous paint, also recognized as glow-in-the-dark paint, is a paint variant that demonstrates luminescent characteristics, emitting light without drawing energy from an external light source. This capability stems from phosphorescent or photoluminescent pigments, which absorb and subsequently emit light energy. Phosphorescent pigments release light gradually, while photoluminescent pigments emit light immediately upon exposure to light.

The primary kinds of luminous paint include fluorescent paint, phosphorescent paint, and radioluminescent paint. Fluorescent paint is a type of paint that shines brightly under ultraviolet (UV) light, producing vibrant hues that remain visible even in daylight. They are composed of various materials such as zinc sulfide powder, calcium sulfide powder, strontium-90 (Sr-90), tritium (H-3), promethium (Pm-147), radium-226 (Ra-226), and others, serving purposes in escape routes, emergency signage, cosmetics, home decor, and more. End-user industries encompass the transportation industry, medical and healthcare sector, building and construction field, defense industry, oil and gas sector, and others.

The luminous paint market research report is one of a series of new reports that provides luminous paint market statistics, including luminous paint industry global market size, regional shares, competitors with a luminous paint market share, detailed luminous paint market segments, market trends and opportunities, and any further data you may need to thrive in the luminous paint industry. This luminous paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The luminous paint market consists of sales of photoluminescent, ultraviolet reactive, and thermochromic paints. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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