Metallic Pigments Market Industry Analysis Comparing Industry Prospects And Challenges Of Investing by 2022: Grand View Research Inc.
San Francisco, 3 December 2018: According to a report by Grand View Research, Inc., global metallic pigments market is anticipated to value USD 1.20 billion by 2022. Growing requirement for high-performance pigments with eco-friendly properties is anticipated to propel demand for metallic pigments over the forecasts period (from 2015 to 2022). Increasing use of metallic pigments in printing inks to offer long-lasting, fashionable, and durable special effects for flexible packaging and other applications can fuel market growth. Continuous efforts from manufacturing companies to develop innovative products through R&D activities can augment the market growth.
On the other hand, stringent government regulations towards environment safety and growing concerns regarding pigment migration in packaging inks can hamper market growth. However, increasing use of these pigments in personal care products and cosmetics to manufacture dermatologically safe make-up and skin care products is anticipated to augment market expansion during the forecast period. To cater to rising demand for metallic pigments, most companies are investing in R&D activities to develop advanced products. For instance, Schlenk introduced Decomet, a new development in Vacuum Metallized Pigments (VMP) coatings. New production process is expected to include tight particle size control that can lead to narrow particle size distribution.
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It can be used in coatings for reflectors, decorative paints, plastic coating, glass coatings, and second surface. The product offers bright metallic effect, high gloss, and reduced risk of blocking the spraying gun. The metallic pigments market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into copper, aluminum, zinc, stainless steel, and others. In 2014, aluminum segment led the market and accounted for 40% of the total share. It is available in various grades including non-leafing, leafing, and vacuum metalized.
The segment is estimated to register a CAGR of 5.5 % from 2015 to 2022 as a result of increasing use of product in automotive paints and coatings due to their durability and high metallic luster. The copper and zinc segments are also expected to witness high demand owing to growing consumer preference for unique gold-bronze color effects in cosmetics. Copper segment is likely to emerge as the fastest-growing product at a CAGR of 5.7% during the forecast period. Based on application, the market can be classified into plastics, printing inks, paints and coatings, cosmetics, and others. In 2014, paints and coatings segment led the market and accounted for 45% of the overall revenue share.
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Increasing number of construction activities in emerging economies to support burgeoning population can fuel growth of segment. In addition, stringent regulations regarding lowering VOC content in paints can augment segment growth. Cosmetics segment is likely to grow at a faster pace over the forecast years. In addition, growing preference for unique color effects and finishes in cosmetic products can spur the segment growth. It is predicted to expand at a CAGR of 6.9% and account for 10% of the total volume share by 2022. Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In 2014, Asia Pacific led the market and accounted for 35 % of its share.
Extensive product usage in end-use sectors including plastics, automotive, and packaging, in Europe can boost regional market development in the years to come. Rising urbanization and changing fashion trends are likely to contribute toward increasing the product demand in MEA and Central & South America. Moreover, rapid industrialization and growing consumer awareness regarding sustainability and low toxicity of these coloring agents in countries including South Africa, UAE, Brazil, Argentina, and Saudi Arabia can stimulate market growth. Some of the leading companies in the metallic pigments market are Asahi Kasei Corporation, BASF SE, Eckhart Pigments, Schlenk Metallic Pigments, and Sun Chemical Performance Pigments.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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