SHELBYVILLE, DE — The research firm Global Market Insights Inc. has released a report on the market for metallic pigments that predicts it will surpass $2.3 billion by 2024.
Rising demand for eco-friendly paints and coatings is stimulating growth in the powder pigments market. Aluminum and copper metallic pigments are experiencing high demand, due in part to the amount of product variety in this sector.
The report predicts that growth in the automotive OEM and refinishing industries will increase metallic pigment market demand. These products have a silvery metallic finish and provide degradation resistance. These properties increase their suitability for wheel coatings, interior coatings, and other automotive parts and accessories.
Market size for stainless steel-based metallic pigments could register gains at over 5.5% by 2024. These pigments are increasing in use because they offer resistance to abrasion, corrosion, and ultraviolet light, as well as hardness and high strength. Stainless steel-based metallic pigments are incorporated in conventional water- and solvent-based protective coatings and are applied on metal substrates for enhanced protection. They form a multilayered structure tightly bonded to the substrate, offering sustained protection.
In the United States, Canada and Mexico, the market for nickel-based metallic pigments has the potential to witness growth. These products provide benefits that include versatility, high corrosion resistance, electrical conductivity, ferromagnetism and attractive appearance. They have various applications, including decorative coatings and electrically conductive coatings for aerospace and military applications.
In Germany, demand for aluminum-based metallic pigments for printing ink applications may witness gains at over 5.5% by 2024. Features such as enhanced flake geometry, solvent-free product forms, tighter particle distribution and improved adhesion may stimulate market growth. These products are suitable for various printing applications such as gravure printing, screen printing, flexography, offset printing and thermal transfer printing.
In China, the market for copper-based metallic pigments is expected to surpass $90 million over the forecast timeframe. The presence of a major manufacturing base, a booming plastics and printing inks sector, and favorable regulations are expected to boost market growth in the region. These products exhibit a unique metallic-bronze and gold visual effect, which increases product suitability for coating and decorative ink applications for metal substrates. Copper-based products are available at lower costs and provide malleability and corrosion resistance, which may stimulate product demand.
Prominent industry participants in the metallic pigments market include Sun Chemical Corp., BASF SE, Altana, Silberline Manufacturing, Carl Schlenk and Toyo Aluminium. Companies are highly engaged in forming collaborations to expand their regional reach. They are also investing heavily in research and development to expand their product portfolios.
For additional information about the report, Metallic Pigments Market Size By Product (Aluminum [By Application {Paints & Coatings, Plastics, Printing Inks, Cosmetics}], Zinc [By Application {Paints & Coatings, Plastics, Printing Inks, Cosmetics}], Copper [By Application {Paints & Coatings, Plastics, Printing Inks, Textile}], Stainless Steel [By Application {Paints & Coatings, Plastics, Printing Inks}], Nickel [By Application {Paints & Coatings, Plastics}]), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Italy, Russia, Spain, China, India, Japan, Australia, Malaysia, South Korea, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024, visit https://www.gminsights.com/industry-analysis/metallic-pigments-market.
