Glow Sticks Market with Potential Impact of Coronavirus (COVID19), SWOT Analysis, Risk Analysis, and Forecast by 2030
Global Glow Sticks Market: Overview
A glow stick refers to a short-term, self-contained source of light. It comprises a translucent plastic tube that contains isolated substances isolated materials. When mixed, this material renders light chemiluminescence properties without needing an external source of energy. However, this light can be used only once and cannot be turned off. Glow sticks made its way into the market as a substitute of flare in military applications. However, in recent times, there has been an increased adoption of the product for use in applications in civil society, which is likely to support growth of the global glow sticks market over the period of analysis, from 2020 to 2030.
According to the United States Fire Administration (USFA), improved clear visibility reduced the overall rate of mortality and also diminished the possibility of accidents of the road. As recommended by USFA, fluorescent glow sticks is estimated to find wide scope of application in several situations, which is likely to support the rising demand for glow sticks in the years to come.
Application and region are the two important parameters based on which the global glow sticks market has been classified.
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Global Glow Sticks Market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global glow sticks market is mentioned as below:
- In January 2020 , US-based Zippo Manufacturing Company announced to acquire Northern Lights Enterprises, Inc. The latter has been a manufacturer and marketer of light products. This acquisition is expected to give Zippo a range of diversifies products, important expertise and knowhow, and new channels of distribution.
Some of the prominent organizations in the global glow sticks market comprise the below-mentioned:
- Bessen Glow Technology Ltd.
- Northern Lights, Inc
- Yiwu Findtoys Trading Co. Ltd
- The Glow Company UK Ltd
- Lumica Corporation
- Cyalume Corporation
Global Glow Sticks Market: Key Trends
The global glow sticks market is characterized by the presence of the following restraints, drivers, and opportunities.
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Increased Demand from Adventure Sports Lovers to Foster Growth of the Market
Use of glow sticks is still limited to the developed countries. However, in the last few years, there has been increased emphasis on the development of infrastructure in the developing countries in the last few years. This factor has raised concern for the safety of roadside workers. Glow sticks are gaining slow entry into this sector so as to minimize the risk and reduce the number of fatalities arising out of the hazardous nature of the work. As such, it can prove to be beneficial for the manufacturers, which is expected to work in favor of the global glow sticks market over the assessment timeframe, from 2020 to 2030.
Adventure sports have gained immense popularity amongst the tourists looking for thrilling experience. Scuba diving, snorkeling are such popular adventure sports and these sports have started making use of glow sticks. These sticks are increasingly used as safety and emergency light source in adventure sports. Glow sticks have also gained popularity as party supplies. With growing use in various civilian applications, the global glow sticks market is expected to observe considerable growth in the coming years.
Global Glow Sticks Market: Geographical Analysis
North America and Europe dominate the global glow sticks market and is forecasted to remain prominent regions throughout the period of analysis. Authorities, such as REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) is an European body working toward lowering the impact of chemical use. Corporate end users and manufacturers in Europe are expected to comply with standards regarding use of chemicals as laid down by the body. This requires the manufacturers of glow sticks to stick to the regulations and produce glow sticks in Europe.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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