Stilbene Market Forecast 2023 - 2031
Report ID : CBI_1355 |
| Published Date:
| Format :
| Base Year: | 2022 |
|---|---|
| CAGR: | 5.2% |
| Forecast Year: | 2023 - 2031 |
| Revenue 2022: | $1,231.73 Mn |
| Revenue 2023: | $1,288.88 Mn |
| Revenue 2031: | $1,937.13 Mn |
Stilbene Market Forecast 2023 - 2031
Market Overview :
Consegic Business Intelligence analyzes that the stilbene market is growing with a CAGR of 5.2% during the forecast period (2023-2031), and the market is projected to be valued at USD 1,937.13 Million by 2031 and USD 1,288.88 Million in 2023 from USD 1,231.73 Million in 2022.
Market Definition :
Stilbene is a hydrocarbon compound with the chemical formula C14H12. It is a white, crystalline solid with a melting point of 122-124 °C and a boiling point of 306 °C. The compound is insoluble in water but soluble in organic solvents such as ethanol and ether. Stilbene is a member of the diphenylalkene family of compounds, which are characterized by the presence of two phenyl rings linked by an alkene group. Further, it is also found naturally in a variety of plants, including peanuts, grapes, and berries.
Stilbene is a versatile compound with a wide range of applications. It is used as a precursor to the production of dyes, optical brighteners, phosphors, and scintillators. Stilbene is also used in the production of some pharmaceuticals, including diethylstilbestrol (DES), which is a synthetic estrogen.
Market Dynamics :
Drivers :
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Increasing use of optical brighteners in the textile industry has contributed to the growing demand for stilbene.
Optical brighteners are chemical compounds that give a whitening effect to fabrics by absorbing UV light and emitting it in visible spectra. Stilbene is a vital compound for the manufacture of optical brighteners in the textile industry. Also, stilbene works in optical brighteners by absorbing invisible UV light and reflecting it in a visible spectrum. Moreover, stilbene-derived optical fibers stay on fibers for a long period of time giving them a bright look. For instance, according to a study National Library of Medicine, nearly 80% of all optical brighteners are derivatives of stilbene. Additionally, the growth in the textile industry has augmented the demand for optical brighteners. For instance, according to the report published by the India Brand Equity Foundation, in June 2023, the Indian government has approved R&D projects worth USD 7.4 million in the textile sector. As a result, the aforementioned factors are fuelling the stilbene market growth.
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Rise in adoption of stilbene in the pharmaceutical industry is fostering the market growth.
Stilbene and its derivatives are a key ingredient in the manufacture of several pharmaceutical compounds. Further, according to a study by the National Library of Medicine, early clinical trials of the drug resveratrol, derived from stilbene, demonstrated the ability to prevent certain types of cancer such as colon cancer. Moreover, diethylstilbestrol, a drug derived from stilbene is used in the treatment of prostate cancer and a few symptoms of menopause. For instance, according to the statistics reported by the American Cancer Society, the U.S. is estimated to diagnose approximately 288,300 new cases of prostate cancer in 2023. As a result, the various benefits of stilbene have surged the adoption of stilbene compounds in the pharmaceutical industry, in turn enhancing the stilbene market growth.
Restraint :
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Stringent government regulations on the manufacturing of stilbene is likely to restrict the market growth.
Stilbenes are a vital part of many industries such as textile, healthcare, plastics, cosmetics, and others, however, their toxicity poses risks to human health and the environment. In small quantities, stilbene can act as an irritant to the throat and eyes and can also cause damage to aquatic bodies. Furthermore, the stern guidelines imposed by the Food and Drug Administration (FDA) on the amount of stilbene being used is the key factor hampering the market growth.
Moreover, the manufacturing process of stilbene also involves the use of highly toxic chemicals such as benzoin and zinc amalgam. Benzoin is toxic to the lungs and mucous membranes of the throat, and repeated or prolonged exposure can cause organ damage. In addition to this, exposure to large doses of zinc amalgam can cause negative health effects such as skin irritation, nausea, and diarrhea. As a result, the stringent regulations related to the toxicity of stilbene are limiting the stilbene market growth.
Opportunities :
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Technological advancements in stilbene manufacturing will aid to surge the market growth.
The demand for stilbene in various industries such as plastic, textile, and chemicals, among others has been steadily rising over the years, however, the manufacturing of stilbene has resulted in many challenges and drawbacks. As a result, the key players operating in the stilbene market have been investing in newer manufacturing technologies for better yield and safety. Hence, the increase in new approaches for the synthesis of cross-coupling reactions for producing stilbene is expected to proliferate the product demand over the forecast period.
Stilbene Market Report Coverage :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 1,937.13 Million |
| CAGR (2023-2031) | 5.2% |
| By Form | E-stilbene and Z-stilbene |
| By Application | Dyes, Photoconductor, Optical Brighteners, Photobleachers, Antitumor Agents, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Inrad Optics, Tokyo Chemical Industry Co., Ltd., DAYANG CHEM (HANGZHOU) CO., LTD, Amadis Chemical Company Limited, Chemwill Asia co., LTD, Merck KGaA, FUJIFILM Wako Pure Chemical Corporation, Rudolf GmbH, Otto Chemie Pvt. Ltd., Anant Pharmaceuticals Pvt. Ltd., and Biosynth |
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Download Sample ReportMarket Segmentation :
By Form :
The form segment is categorized into E-stilbene and Z-stilbene. In 2022, the E-stilbene segment accounted for the highest market share in the stilbene market and is also expected to grow at the fastest CAGR over the forecast period. E-stilbene is the most commonly used isomer form of stilbene. This form of stilbene is more stable due to steric hindrance, and ease of synthesis, among others. The key factor propelling the segment growth is the increasing use of E-stilbene in the production of some pharmaceuticals, including diethylstilbestrol (DES). Diethylstilbestrol is widely used in the treatment of prostate cancer. Prostate cancer is one of the most common cancers among men. For instance, according to the statistics published by the American Society of Clinical Oncology (ASCO), in 2020, an estimated 375,304 people died from prostate cancer across the globe. Hence, the rise in the prevalence of prostate cancer cases is also contributing to the demand for E-stilbene for treatment. As a result, the aforementioned factors are propelling the stilbene market growth.
By Application :
The application segment is bifurcated into dyes, photoconductor, optical brighteners, photobleachers, antitumor agents, and others. In 2022, the dyes segment accounted for the highest market share of 28.13% in the stilbene market. Stilbenes are used to produce a wide range of dyes that are used in a variety of industries, including textiles, plastics, and paper. Also, stilbene derivatives can be easily prepared by conventional and eco-friendly methods. This is one of the major factors that has increased the demand for stilbene in the production of dyes.
Moreover, the antitumor agents segment is anticipated to grow at the fastest CAGR during the forecast period. Stilbene is effective in combination with other cancer therapies, such as chemotherapy and radiation therapy. Additionally, it is also effective against a variety of solid tumors, including breast cancer, lung cancer, and colon cancer. The segment growth is driven by the rise in government initiatives to reduce cancer rates across the globe. For instance, the WHO Global Breast Cancer Initiative (GBCI) aims to reduce global breast cancer mortality by 2.5% per year, thereby averting 2.5 million breast cancer deaths globally between 2020 and 2040. Therefore, the factors mentioned above will aid to surge the demand for stilbene in the following years.
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Download Sample ReportBy Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportIn 2022, North America accounted for the highest market share of 34.25% valued at USD 421.86 Million in 2022 and USD 441.96 Million in 2023, and is expected to reach USD 665.79 Million in 2031. In the North American region, the U.S. accounted for the highest market share of 63.21% in 2022. Stilbene is used in the production of a variety of plastic additives, such as optical brighteners, antioxidants, and flame retardants. The growth in the region is being driven by the increasing demand from the textile, plastics, and pharmaceutical industries. Furthermore, the rise in research and development for stilbene as a potential feedstock for the production of bio-based plastics is another significant factor contributing to the market growth.
However, Asia Pacific is expected to grow at the fastest CAGR of 5.9% during the forecast period. The pharmaceutical industry in Asia Pacific is also growing rapidly, driven by the increasing demand for pharmaceuticals from a variety of factors, including the rising population, aging population, and increasing prevalence of chronic diseases. Stilbene is used in the production of a variety of pharmaceutical products, including antitumor agents, anti-inflammatory agents, and antioxidants. In addition to this, the compound is also used in the treatment of various cancers. For instance, according to the report published by the World Health Organization (WHO), each year, more than 2.3 million people are diagnosed with cancer in the Southeast Asia Region and about 1.4 million die of the disease. Hence, the rising prevalence of cancer is anticipated to foster the stilbene market in the following years.
Details Countries Growth Insights
Download Sample ReportStilbene Market Competitive Landscape:
The stilbene market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Inrad Optics
- Tokyo Chemical Industry Co., Ltd.
- DAYANG CHEM (HANGZHOU) CO., LTD
- Amadis Chemical Company Limited
- Chemwill Asia co., LTD
- Merck KGaA
- FUJIFILM Wako Pure Chemical Corporation
- Rudolf GmbH
- Otto Chemie Pvt. Ltd.
- Anant Pharmaceuticals Pvt. Ltd.
- Biosynth
Frequently Asked Question
What was the market size of the stilbene market in 2022?+
In 2022, the market size of colorectal cancer was USD 1,231.73 million
What will be the potential market valuation for the stilbene market by 2031?+
In 2031, the market size of colorectal cancer is expected to reach USD 1,937.13 million.
What are the key factors driving the growth of the stilbene market?+
Limited availability of raw materials is one of the major factors restricting the market growth.
What is the dominating segment in the stilbene market by form?+
In 2022, the E-stilbene segment accounted for the highest market share in the overall stilbene market.
Based on current market trends and future predictions, which geographical region will have the fastest impact on the stilbene market's growth in the coming years?+
Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.
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