The global Metallic Pigments Market is expected to reach USD 1.20 billion by 2022, according to a new report by Grand View Research, Inc. Transitioning consumer preferences towards fashionable products with enhanced colors & brilliant visual effects is expected to remain a key driving factor for this market.
Technological advancements have introduced high luster & sparkling effects with increased durability for automotive OEM processing & paint refinishes. These odorless pigments are also widely utilized in other expanding end-use industries such as packaging, cosmetics & printing inks, particularly in emerging economies of China & India. Increasing consumer awareness regarding sustainability and environmental friendly nature of these pigments has also benefited the overall market.
U.S. Metallic Pigments Market revenue by product, 2012-2022, (USD Million)
U.S. Metallic Pigments Market revenue by product, 2012-2022, (USD Million)
Aluminum pigment emerged as the leading product segment and accounted for over one third of the total market volume in 2014. Copper pigments are expected to be the fastest growing product segment growing at a CAGR of 5.7% from 2015 to 2022.These pigments are rapidly gaining popularity on account of their ability to impart a unique gold-bronze effect to various substrates.
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Further key findings from the report suggest:
Global metallic pigments market demand was 153.8 kilo tons in 2014 and is expected to reach 228.6 kilo tons by 2022, growing at a CAGR of 6.4%from 2015 to 2022.
Paints and coatings was the leading application segment and accounted for 44.2% of total market volume in 2014. Burgeoning population coupled with evolving fashion trends in emerging markets of Asia Pacific and Latin America is anticipated to boost segment growth over the forecast period. Cosmetics are expected to witness the highest growth of 6.9% from 2015 to 2022.
Asia Pacific was the largest consumer and accounted for over 35% of global volume in 2014. Increasing construction spending in China, India and South East Asian countries, coupled with regulatory support for eco-friendly products is expected to drive demand in construction materials and special effect paints. The region is also expected to witness the highest growth of7.0% over the forecast period.
Central & South America is expected to witness accelerated growth to occupy over 12% of global market volume by 2022. Upcoming major sporting events such as the Rio Olympics in 2016 are likely to foster metallic pigments demand in infrastructural paints & graphic art printing inks in Brazil.
Metallic pigment industry is characterized by presence of several prominent market participants with high level of integration from raw material production to pigment processing.
Some leading companies operating in the global market include BASF, Eckhart Pigments, Asahi Kasei Corporation, Schlenk Metallic Pigments, Sun Chemical Performance Pigments, Sudarshan Chemicals, Umicore, Ferro Corporation, Carlfors Bruk, Toyal America, Inc. and Siberline Manufacturing Co.
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