Persistence Market Research
Luminous Paints Market: Introduction
Luminous paints, as the name suggests, are coatings that emit light. Luminous paints are of two types, one wherein the paint glows after getting charged by a certain light source, such as sunlight, ultraviolet and others – this type contains non-radioactive elements, whereas the second type of luminous paints contain radioactive elements. The luminous paints market has presented propounding technology and opportunities in the field of commercial applications. Due to their long durability and strong intensity, luminous paints give booming opportunities for work areas with low light levels and are feasible replacements for sources that consume electric power or batteries. Luminous paints or luminescent paints are widely used to mark runways, highways, fire exits or any other areas with dark or dim light conditions.
In order to ensure consumer safety against exposure to radioactive substances, manufacturers in the luminous paints market have to follow stringent regulations under government authorities. For instance, the USNRC (U.S. Nuclear Regulatory Commission Code of Federal Regulations) necessitates that manufactures follow a code of conduct in technical specifications to operate a manufacturing center of luminous paints and products. Luminous paints offer a variety of products that are licensed to be used in children’s projects, including toys, furniture, and relevant products. The luminous paints market offers a varied range of colors according to the purpose of using them in different locations. This includes red, yellow, blue, green, purple, orange and white.
Luminous Paints Market: Drivers and Restraints
Attributing to properties such as resistance to water, oil, dust and other corrosive materials, the increasing demand for luminous paints is expected to be dynamic from applications, such as exit signs, warnings, regulatory and mandatory signs used on roadways, airports, in mines, etc. Emerging technology in focused towards evading the use of radioactive elements, so as to elude the release of any explosive or hazardous substance in the atmosphere. Additionally, the increasing rate of infrastructure in commercial buildings is expected to drive the luminous paints market over the forecast period.
The demand for luminous paints is also determined by developments in electronic gadgets that do not require electrical power for surface screen visibility in any kind of lighting condition and atmosphere. Globally, the luminous paints market is forecasted to be dominated by military, civil, commercial and industrial sectors, owing to the extensive application of luminous paints in these sectors. Luminous paints are used majorly in military watches, vintage watches, devices such as gun sights, and instruments in an aircraft’s cockpit. These applications hold significant prospects for the luminous paints market over the forecast period.
However, the high cost of luminous paints over other available alternatives in the market may hinder market growth. This can be remedied by creating awareness about the long term benefits of luminous paint products containing radium, as the radioactive element remains illuminated for its half-life of 1,600 years, when used with safety precautions.
Luminous Paints Market: Segmentation
The luminous paints market can be segmented on the basis of source:
The luminous paints market can be segmented on the basis of application:
Luminous Paints Market: Region-Wise Outlook
Based on geography, emerging nations are forecasted to dominate the luminous paints market, owing to rapid development in infrastructure and the transport sector in these countries. Regions such as Asia-Pacific including India, China and Japan are expected to remain prominent for the luminous paints market, attributing to the increasing rate of urbanization and development in construction of roadways, such as expressways, highways and other harbors and ports. Other regions, such as Russia and Europe are expected to observe profitable opportunities in the luminous paints market, as many locations in these regions have dim light visibility conditions for major parts of the year.
Luminous Paints Market: Market Players
Examples of some of the market participants in the luminous paints market are mentioned below:
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