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Covid-19 Impact Analysis on Stilbene Market

 

Stilbene: Introduction

·         Stilbene is a colorless to slightly yellow, crystalline, water-insoluble solid, which is used primarily in the manufacture of dyes (stilbene dyes)

·         Stilbene exists in two isomeric forms of 1,2-diphenylethylene: (E)-stilbene (trans-stilbene), which is not sterically hindered, and (Z)-stilbene (cis-stilbene), which is sterically hindered and therefore less stable

·         Stilbene possesses intense absorption and fluorescence properties

·         Stilbene is used in the manufacture of dyes and optical brighteners, and also as a phosphor (luminescence) and scintillator

Key Drivers and Restraints of Stilbene Market

·         Growth in urbanization, rise in disposable income of consumers, and increase in preference of diverse culinary lifestyles have contributed to the growth of various end-use industries. Stilbene is majorly used in the manufacture of dyes that are employed in textile and paint industries. Thus, rise in population and demand for textiles in developed and developing economies such as China and India is one of the key factors likely to drive the stilbene market in the next few years.

·         Stilbene is employed in scintillators that are used for radiation detection. Scintillators are materials that can alter high-energy radiation. They are generally utilized as detectors in clinical diagnostics, high-energy material science, and geophysical investigation. Stilbene is used in scintillators due to its fluorescence properties. Thus, increase in R&D activities in radiation detection for diagnostics and medical field is augmenting the global stilbene market.

·         Rise in stringent government norms and regulations due to pollution caused by synthesis of various chemicals, including stilbene, is expected to hamper the stilbene market in the near future.

Stilbene Market: Type Segment

·         In terms of type, the global stilbene market can be divided into (E)-stilbene (trans-stilbene) and (Z)-stilbene (cis-stilbene)

·         The E-stilbene segment is projected to hold major share of the global stilbene market during the forecast period. E-stilbene, which is also known as trans-stilbene, is widely used in the production of azo dyes. Upon reaction with aniline, E-stilbene produces azo dye, which is widely used in the textile industry for treating textiles. This is expected to drive the global stilbene market.

·         Stilbene is widely used in the production of sensors and lights, which are used in electronic devices and household appliances. Z-stilbene is available in different purity grades such as 95%, 96% and 97%. Z-stilbene, also known as cis-stilbene, is widely used in the production of LED lights, which are high in demand in electronics, automotive, and horticulture industries.

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Stilbene Market: Application Segment

·         Based on application, the global stilbene market can be segmented into dyes, optical brighteners, luminescence, scintillators, and others

·         The dyes segment is projected to gain higher share of the global market during the forecast period. Dyes are majorly used on fabrics to give them colors. Stilbene is used during dye production. Demand for textiles is increasing globally due to the increase in population. This is projected to boost the global market for stilbene in the next few years.

·         The optical brighteners segment is also expected to hold key share of the global stilbene market during the forecast period. Optical brighteners are also known as fluorescent whitening agents. Optical brighteners are used in detergents for cloth whitening. Optical brighteners have properties such as high fluorescence, heat resistance, and chemical stability. Thus, they are used in textile and paper industries. Optical brighteners are used in the paper industry to improve the whiteness of paper and acts as brightening agent during paper production. These key factors are projected to propel the global stilbene market during the forecast period.

 

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COVID-19 Impact on Global Stilbene Market

·         On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.

·         Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic

·         Manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the stilbene market.

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Asia Pacific to Hold Leading Share of Global Stilbene Market

·         In terms of region, the stilbene market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is expected to hold major share of the global stilbene market, followed by North America and Europe, during the forecast period. Rise in demand for dyes and paints and coatings in China, Japan, and India is expected to create lucrative opportunities for the market in the region during the forecast period.

·         The stilbene market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Stilbene is imported into countries such as Brazil, Mexico, and South Africa due to limited presence of manufacturing companies in these countries.

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Key Manufacturers Operating in Stilbene Market

The stilbene market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the stilbene market include:

·         Inrad Optics Inc.

·         Huntsman International LLC

·         Archroma

·         BASF Corporation

·         Amadis Chemical

·         TCI America

·         DAYANG CHEM (HANGZHOU) CO., LTD.

·         Chemwill Asia

·         Hubei Xinkang Pharmaceutical Chemical

·         Rudolf GmbH

·         Paramount Minerals and Chemicals.

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