Stilbene Market size was over USD 8.58 Billion in 2023 and is set to cross USD 21.45 Billion by the end of 2036, witnessing more than 7.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of stilbene is estimated at USD 9.14 Billion. The market growth is mainly owing to increasing demand for stilbene-based products in various industries, such as the textile, paper, and pharmaceutical industries. The textile industry is one of the largest employers in the world, providing jobs to more than 60 million people globally. The textile industry is expected to continue to expand in the coming years, driven by growing demand for textiles and clothing, particularly in emerging markets. Stilbene is a colorless crystalline solid that belongs to the family of organic compounds called stilbenoids. It is used in the manufacture of a variety of products, including optical brighteners, fluorescent dyes, and pharmaceuticals.
In addition to this, the textile industry has been expanding rapidly in emerging markets such as China, India, and Bangladesh, which have become major textile manufacturing hubs in recent years. The textile industry has been working to become more sustainable, with a focus on reducing water usage, carbon emissions, and waste generation. The textile industry is highly globalized, with over USD 400 billion worth of textiles and clothing traded internationally each year. The textile industry is a key end user of stilbene-based products, particularly optical brighteners, which are used to enhance the appearance of fabrics by improving their brightness and whiteness. The growing demand for textiles in emerging economies such as China and India is expected to drive the demand for stilbene-based optical brighteners in the coming years.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7.3% |
|
Base Year Market Size (2023) |
USD 8.58 Billion |
|
Forecast Year Market Size (2036) |
USD 21.45 Billion |
|
Regional Scope |
|
Application (Phosphor, Scintillator, Pharmaceuticals, Chemical)
The global stilbene market is segmented and analyzed for demand and supply by application into phosphor, scintillator, pharmaceuticals, and chemical industry. Out of the four types of applications, the chemical industry segment is estimated to gain the largest market share of about 35% in the year 2036. The growth of the segment can be accredited to the expansion of the chemical industry across the world. The global chemical industry generated revenue of over USD 4.2 trillion in 2020. This figure is projected to grow to USD 5.9 trillion by the year 2030. Stilbene is used in cosmetics as a skin-lightening agent and is expected to witness increased demand owing to growth in the cosmetics industry. Stilbene is used in the textile industry as a whitening agent and is expected to witness increased demand owing to expansion in the textile industry. : Stilbene is used as a plasticizer in the polymer industry and is expected to witness increased demand owing to growth in the polymer industry. Stilbene is used as a precursor in the synthesis of several pharmaceutical compounds and is expected to witness increased demand due to the growing demand for pharmaceuticals. Overall, the segment is expected to witness significant growth in the coming years, driven by the growth of several end-use industries.
Type (E-stilbene, Z-stilbene)
The global stilbene market is also segmented and analyzed for demand and supply by type into E-stilbene, and Z-stilbene. Amongst these two segments, the E-stilbene segment is expected to garner a significant share of around 30% in the year 2036. The growth of the segment can be accredited to the increasing demand for dyes and pigments. E-stilbene is widely used in the production of dyes and pigments, and the growing demand for these products is expected to drive the growth of the E-stilbene segment. E-stilbene is a type of stilbene isomer that is widely used in the production of various products, including dyes, pigments, and pharmaceuticals. E-stilbene is used as a precursor in the synthesis of several pharmaceutical compounds, and the growing demand for pharmaceuticals is expected to drive the growth of the E-stilbene segment. E-stilbene is used as a whitening agent in the textile industry, and the expansion of the textile industry is expected to drive the growth of the E-stilbene segment. Overall, the E-stilbene segment in the global stilbene market is expected to witness significant growth in the forecast years, driven by the growing demand for dyes and pigments, pharmaceuticals, textiles, and plastics, among others.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By Application |
|
APAC Market Statistics
The stilbene market in the Asia Pacific, amongst the market in all the other regions, is projected to hold the largest market share of about 35% by the end of 2036. The regional growth can majorly be attributed to the expansion of the textile industry. The textile industry in the Asia Pacific region is also expanding rapidly, driven by the growing demand for textiles in countries such as China, India, and Vietnam. According to a report by the International Textile Manufacturers Federation, the Asia Pacific region accounted for 60% of the global textile and clothing exports in 2019, and the industry is expected to grow further in the coming years. The Asia Pacific region is also one of the fastest-growing markets for pharmaceuticals in the world, driven by the growing population and increasing healthcare spending in countries such as China and India. The Asia Pacific region is the largest market for cosmetics in the world, driven by the growing demand for beauty and personal care products in countries such as China, Japan, and South Korea. The Asia Pacific region is also one of the largest markets for agrochemicals in the world, driven by the growing population and increasing demand for food.
North American Market Forecast
Stilbene market in the North America, amongst the market in all the other regions, is projected to hold the second largest share of about 24% during the forecast period. The growth of the market in this region can primarily be attributed to the growing demand for plastics in the region. The North American region is one of the largest markets for plastics in the world, driven by the growing demand for packaging materials and consumer goods. The North American coatings market is also expanding rapidly, driven by the growing construction and automotive industries in the region. The North American region is also one of the largest markets for pharmaceuticals in the world, driven by the increasing healthcare spending and aging population in the region. The North American region is also one of the largest markets for agrochemicals in the world, driven by the growing population and increasing demand for food. Overall, the stilbene market in the North American region is expected to witness significant growth in the coming years, driven by the growing demand for plastics, coatings, pharmaceuticals, and agrochemicals, among others.
Europe Market Forecast
Further, the stilbene in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2036. The growth of the market can be attributed majorly to the increasing demand for polymers. The Europe region is one of the largest markets for polymers, driven by the growing demand for plastic products in various end-use industries such as packaging, construction, and automotive. The Europe region is also one of the major markets for personal care products, driven by increasing consumer awareness about personal hygiene and grooming. The Europe region is also one of the largest markets for pharmaceuticals in the world, driven by the aging population and increasing healthcare spending. The Europe region is also a significant market for agrochemicals, driven by the increasing demand for food and the need to improve agricultural productivity. Overall, the stilbene market in the Europe region is expected to witness significant growth in the coming years, driven by the increasing demand for polymers, personal care products, pharmaceuticals, and agrochemicals, among others.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?