Albany, N.Y. – Global Aluminum Pigments Market: Highlights
The global aluminum pigments market is projected to grow at a CAGR of nearly 6.6% between 2019 and 2027. Consumer preference for high performance aluminum pigments with attractive esthetic features has been rising significantly of late. Aluminum pigments are widely employed in the formulation of automotive paints & coatings to enhance their aesthetic properties.
Aluminum pigments are a special type of pigments that provide silver color with excellent metallic effects. Pigments are broadly used to offer lustrous, glossy, and shiny effects. Aluminum pigments impart the metallic effect by scattering light on rough surfaces or reflecting light on a smooth surface. Usage of aluminum pigments helps provide metallic appearance to products, thus enhancing their esthetic features.
Aluminum pigments are available in different shapes and sizes such as lamellar flakes (cornflakes), lenticular flakes (silver-dollars), and vacuum metallized pigments (VMPs). Furthermore, aluminum pigments are classified into two groups - leafing and non-leafing - depending on wetting properties.
The global aluminum pigments market has been expanding significantly since in the last few years. Automotive industry has experienced considerable growth in developing countries over the last couple of years. This, in turn, has significantly boosted the demand for aluminum pigments in paints & coatings.
Emergence of advanced technologies in the development process of aluminum pigments is projected to create lucrative opportunities for the market during the forecast period.
Global Aluminum Pigments Market: Segmental Trends
Aluminum pigments are employed widely in paints and coatings, plastics, personal care, printing inks, and construction materials. Paints and coatings accounted for more than 45% share in global aluminum pigments market in 2018. Aluminum pigments are used in paints & coatings to create metallic effect with good hiding power. They also act as anti-corrosion and anti-reflection agents. These pigments are employed in various types of coatings such as automotive, refinish, coil, conductive, roof, heat resistance, and primers.
Plastic end-use stood second largest segment in global aluminum pigment market. Aluminum pigments impart metallic effect such as glittering in plastic industry. These pigments are widely used in thermoplastics due to their functional properties.
Personal care was another lucrative end-user segment of the aluminum pigments market in 2018. Aluminum pigments are largely employed in the production of several personal care products such as eye shadows, nail varnishes, mascara, blushers, shampoos, body washes, lotions, and creams to impart shimmering effects. Growth of the personal care industry is estimated to propel the market for aluminum pigments in the next few years.
Printing inks segment held substantial share in global aluminum pigments market in 2018. Aluminum pigments are widely used in printing inks to provide metallic effects to various items such as brochures, labels, packaging, carton boards, self adhesive films, leather goods, and metals.
Global Aluminum Pigments Market: Regional Highlights
Asia Pacific was the largest consumer of the global aluminum pigments market in 2018. The region is estimated to dominate the market during the forecast period due to the increasing demand for these pigments in major end-user segments. Rising trend in the automotive industry in developing countries such as China, India, Singapore, Thailand, and Malaysia has fueled the demand for aluminum pigments in the paints and coatings segment. China is projected to be the largest consumer of aluminum pigments by 2027.
The paints & coatings industry has been driving the demand for aluminum pigments in developed regions such as North America and Europe. Decent growth in automotive industry is anticipated to encourage the growth of the aluminum pigments market in Europe and North America during the forecast period.``
Middle East & Africa is expected to be a lucrative market for aluminum pigments during the forecast period. The paints & coatings segment is estimated to be the largest end-user of the aluminum pigments market in Middle East & Africa during the forecast period.
Key Developments in Global Aluminum Pigments Market
In January 2020, SCHLENK Metallic Pigments expanded pigment product line Zenexo which is based on UTP technology and finds applications in automotive segment.
In November 2019, DIC Corporation collaborated with PIGMENT TOKYO, an art materials lab operated by storage company Warehouse TERRADA to provide DIC pigments for cosmetics, with a view to expanding the focus of marketing to include art application.
In September 2019, Silberline has undergone expansion of waterborne aluminum pigment in Tamaqua, Pennsylvania production facility.
In March 2019, Sun Chemical Performance Pigments launched Benda Lutz COMPAL PC, a highly concentrated aluminum preparation for powder coatings that comes in a groundbreaking pelletized form and eliminates dusting and helps in equipment clean-up and improves worker exposure.
In June 2018, BASF plans to expand its production capacity for Paliocrom effect pigments to allow its customer to create new trendy high quality coatings.
Global Aluminum Pigments Market: Competition Landscape
Various large and medium scale manufacturers operate in the global aluminum pigments market. Intense rivalry is expected among established players due to the presence of integrated value chain.
Some of the leading players in the global aluminum pigments market include Alba Aluminiu, Altana AG, Asahi Kasei Corporation, BASF SE, Carlfors Bruk AB, Carl Schlenk AG, Geotech International B.V., Metaflake Ltd., Metal Powder Company Ltd., Silberline Mono Pigment Developments Ltd., Sun Chemical Corporation and Toyal America Inc.
Source : https://www.transparencymarketresearch.com/aluminum-pigments-market.html