The global stilbene market is set to witness immense growth in the coming years due to growing product demand from various applications such as pharmaceuticals, chemicals, dyes lasers, optical brightness, scintillator, and phosphor among many others. Booming automotive industry and expanding oil sector will further contribute towards market growth. Stilbene is a crystalline, colorless to slightly yellow, water-insoluble solid compound that has a molecular formula of C14H12.
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This compound is used mainly for manufacturing dyes such as stilbene dyes. E stilbene is also majorly used in optical bleaches and dyes, whereas the product's crystal forms are used as scintillators and phosphors.
The global stilbene market is bifurcated segments in terms of type and regional landscape.
In terms of type, the overall market is classified into Z Stilbene and E Stilbene.
The E stilbene market is further classified in terms of purity and application.
Based on purity, the market is categorized into 99%, 98%, and 96%. In 2019, the global E stilbene market by 96% purity segment valuation was estimated to be more than $310 million. The segment is further expected to achieve respectable growth in the upcoming quarters. In 2020, the global E stilbene market by 99% purity was valued to be over $485 million, which showcases it's the segment's ability to pull in lucrative growth for stilbene market growth.
In terms of application, the overall market is segmented into chemical industry, pharmaceuticals, optical brighteners, dye laser, scintillator, and phosphor. Among these, the phosphor segment will witness substantial growth owing to the rising demand for led from electronic industry.
Stilbene segment is witnessing high demand from chemical industry segment. The product is extensively used as precursor for production of other organic chemicals including benzene owing to its rapid demand from chemical industries.
The Z stilbene market is further segmented in terms of purity and application.
With respect to purity, the Z stilbene market is classified into 97%, 96%, and 95%. The global Z stilbene market by 95% purity is projected to be worth over $190 million by the end of 2026. In 2026, the global Z stilbene market by 97% purity is estimated to be approximately $385 million, driven by elevated product demand.
Talking of the application spectrum, the overall market is categorized into optical brighteners, dyes, scintillator, and phosphor. Phosphor segment is widely used for production of sensors in electronic device pertaining to its application in electronic industry.
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From a regional frame of reference, the stilbene market in LATAM was estimated to be over 6 kilo ton in 2020, effectively showing ample of growth opportunities for the product.
Meanwhile, the rapidly growing automotive industry and booming oil industry in Middle East & Africa region is expected to dive the MEA stilbene market demand.