In 2023, the import of synthetic organic products used as luminophores into China stood at $297 million. The forecasts from 2024 to 2028 indicate a steady increase in imports, with values projected to reach $371.6 million by 2028. This reflects a consistent year-on-year growth of approximately 5% to 6%. The compound annual growth rate (CAGR) over the five-year period suggests a stable average growth in this market segment.
Looking forward, important trends to watch include:
- Technological advancements in lighting and display technologies driving demand for advanced luminophores.
- Potential trade policy changes affecting import dynamics and pricing.
- Shifts in consumer preferences towards eco-friendly and energy-efficient lighting solutions impacting market demand.
