The relevance of global metallic pigments market is growing progressively owing to growth in the paints and coatings industry. The major players in the metallic pigments market include Sudarshan Chemicals, BASF, Schlenk Metallic Pigments, Ferro Corporation & Carlfors Bruk, Umicore, Eckhart Pigments, Asahi Kasei Corporation, Toyal America Inc., Siberline Manufacturing Co., and Sun Chemical Performance Pigments.
As per the report, the worldwide metallic pigments market was esteemed at USD 781.6 Million in 2015, is anticipated to attain USD 1,121.6 Million in 2021 and is expected to expand at a CAGR of 6.2% between 2016 and 2021.
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Growth in paints and coatings industry to boost the metallic pigments market growth
The worldwide metallic pigments market has been seeing vigorous expansion over the last few years on account of growth in the coatings and paints business. The architectural paints and coatings market has developed considerably owing to the rising construction activities and infrastructural development in several countries. Moreover, development in the automotive sectors has driven the decorative paints and coatings market as well. Nevertheless, implementation of strict regulation concerning the use of pigments is expected to hamper the growth of the metallic pigments market. The introduction of nanotechnology is expected to generate lucrative avenues in the metallic pigments market in the forthcoming years.
Personal care segment to grow as a result of growing fashion trends in budding markets
The metallic pigments market has been bifurcated based on end-user, region, and product. Based on end-user industries, the metallic pigments market is diversified into plastics, paints & coatings, printing inks, personal care, and others. The paints and coatings possessed the biggest market stake in 2015 pursued by personal care segment on account of the rising fashion trends in budding markets such as Latin America and Asia-Pacific.
Based on product, the metallic pigments market is divided into copper, aluminum, stainless steel, zinc, and others. In 2015, the biggest market share was held by aluminum metallic pigment and is anticipated to expand at highest CAGR in the years to come. Aluminum pigments are utilized as coloring additives. They offer the silvery metallic finishing to the substrate and are widely utilized in automotive coatings. The rising requirement for radiant effects and better sheen is expected to fuel the segment growth in the global metallic pigments market during the forecast period.
Asia Pacific to witness highest growth with rising automotive industries in the region
In 2015, Asia Pacific dominated the worldwide metallic pigments market. Budding nations in the Asia Pacific such as India and China are key pigment customers, where the automotive industries are developing at a swift pace since recent years, which, in turn, propels the demand for metallic pigment in the region.
This report segments the global metallic pigments market as follows:
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