Metallic Pigments Market

shivakrishna

217
views

Metallic pigments market size is forecast to reach US$3.1 billion by 2026, after growing at a CAGR of 6.4% during 2021-2026.

Metallic pigments market size is forecast to reach US$3.1 billion by 2026, after growing at a CAGR of 6.4% during 2021-2026. The industry is driven by increasing demand for high-performance pigments, with eco-friendly, anticorrosion, heat resistant attributes in major applications such as coatings, printing, cosmetics, building materials, and more. The metallic pigment is an excellent choice for printing decorative labels and eye-catching graphics, thanks to the market demand for specialty goods and stylish packaging. The rapid growth of the construction industry has increased the demand for coating materials; thereby, fueling the market growth. Furthermore, the flourishing automotive industry is also expected to drive the metallic pigments industry substantially during the forecast period.

COVID-19 Impact

The coronavirus (Covid-19) pandemic has restricted the functioning of the building and construction industry in various regions, owing to the nationwide lockdown. As a result of the coronavirus outbreak, supply chains, logistic operations, and worker availability have suffered to a great extent due to which the functioning of the building and construction industry has been moderately hindered. Building and development operations have been temporarily halted in several areas. For context, in Quarter 2 (April to June) 2020, construction production in the United Kingdom dropped by a record 35.0 percent as compared to Quarter 1 (January to March) 2020. The Corona Virus pandemic was to blame for this drop in value. With the decrease in building and construction operation, the demand for coating and stainless steel has significantly fallen, which is having a major impact on the metallic pigments market growth.

Metallic Pigments Market Report Coverage

The report: “Metallic Pigments Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the metallic pigments Industry.

By Type: Copper, Aluminum, Lead, Stainless Steel, Zinc, Bronze, Gold, Nickel, and Others
By Technology: Extrusion/Grinding, Dry Blending, Standard Bonding, and Blitz(tm) Bonding
By Application: Coatings (Can Coatings, Powder Coatings, Industrial Coatings, and Others), Plastics (Master Batches, Anti-Static Flooring, Relief Technique, and Others), Cosmetics (Nail Polish, Skin Care, and Others), Printing Ink (Screen Printing, Offset Printing, and Flexo and Gravure Printing), Building Materials (Autoclaved Aerated Concrete, Plasters and Mortars, Technical Ceramics, and Others), Chemical (Pyrotechnics & Civil Explosives, Titanium Dioxide Industry, Catalyst Carriers, Filter Materials, Reactants, and Others), and Others
By End-Use Industry: Automobile (Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles), Building and Construction (Residential, Commercial, Industrial, and Infrastructure), Packaging (Food & Beverages, Electrical & Electronics, Personal Care & Cosmetics, and Others), Aerospace (Commercial, Military, and Others), Marine (Passenger, Cargo, Supply Vessels, and Others), and Others
By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

Asia-Pacific dominates the metallic pigments market, owing to the increasing building and construction industry in the region. Construction demand is increasing in the region, owing to the increasing per capita income of individuals coupled with the increasing population.
The development of innovative metal oxides with unique substrate layering and new flake technology has opened up lucrative avenues for high-performance pigment growth, even in developed markets that are hampered by stringent regulations.
Pearlescent pigments are gaining popularity due to the excellent properties such as the strong luster, non-toxic, weather resistance, heat resistance, good dispersion, non-conductive, and so on, owing to which pearlescent pigments are then widely used in the paint and coating sector, which is limiting the metallic pigments market growth.
Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the projects and operations of various industries such as building and construction are disruptively stopped, which is hampering the metallic pigments market.

Figure: Asia-Pacific Metallic Pigments Market Revenue, 2020-2026 (US$ Million)

For More Details on This Report - Request for Sample

Metallic Pigments Market Segment Analysis – By Type

The aluminum segment held the largest share in the metallic pigments market in 2020. It is available in different types, such as metalized leafing, non-leafing, and vacuum. These products are available in a wide range of shades and exhibit high reflectivity of light, thereby improving visual appeal along with improving resistance to rust and corrosion. In applications ranging from coatings, plastics, and printing inks, aluminum pigments are used. Pigments are made from atomized aluminum powder and produced almost exclusively through a wet-milling process. The growing acceptance of the product in automotive paints and coatings on account of high metallic luster, high-performance pigments, and durability is likely to boost the segment growth. All these extensive characteristics of aluminum are the key factor anticipated to boost the market growth during the forecast period.

Metallic Pigments Market Segment Analysis – By Application

The coating segment held the largest share in the metallic pigments market in 2020 and is growing at a CAGR of 7.2% during 2021-2026. In the coating industry, metallic pigments are used in anti-corrosion, heat resistant, reflective, and conductive coatings. In coating applications, these pigments produce a good range of colors. The growth of the paint & coatings industry is driven by increasing construction activities in emerging economies. However, the personal care segment is anticipated to witness the fastest growth in coming years due to a growing focus on beauty & appearance. Metallic pigments are used in a variety of applications, coating systems, and coating processes in the coatings industry. Furthermore, they are used to improve the attractiveness and exclusivity of end products by enhancing their appearance (with metal effects) and adding functionality, which is the primary driving force for the metallic pigments market over the forecast period.

Metallic Pigments Market Segment Analysis – By End-Use Industry

The building and construction segment held the largest share in the metallic pigments market in 2020 and is growing at a CAGR of 9.8% during 2021-2026, owing to the increasing usage of high-performance pigments such as metallic pigments in the building and construction industry. Leafing aluminum pigments applied in e.g. roof coatings reflect light in a broad spectrum of wavelengths. Thus, the photochemical degradation of the organic matrix in coatings and substrates is reduced. The reflection of IR light prevents the underlying substrates from heating due to which the energy consumption for cooling can be reduced. In PU foam or other insulation materials used in the building and construction industry, the metallic aluminum pigments can help to reflect heat and reduce energy loss. Thus, there is an upsurge in the demand for metallic pigments from the building and construction industry during the forecast period.

Metallic Pigments Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the metallic pigments market in 2020 up to 42%, owing to the increasing demand for metallic pigments such as stainless steel and aluminum alloy from the building and construction sector in the region. According to the International Trade Administration (ITA), the construction industry is forecasted to grow at an annual average of 5% in real terms between 2019 and 2023. According to Invest India, the Construction industry in value terms is expected to record a CAGR of 15.7% to reach US$738.5 billion by 2022. By 2025, construction output is expected to grow on average by 7.1% each year. According to the Building and Construction Authority (BCA), the overall demand for construction increased by 9.5 percent to hit S$33.4 billion in 2019, approximately S$1.4 billion higher than the upper limit of the 2019 BCA forecast of S$27 billion to S$32 billion, mainly due to a higher than anticipated rise in demand for petrochemical facilities for industrial construction. Thus, with the expanding building and construction industry, the demand for coatings, stainless steel, and aluminum alloy will also subsequently increase, which is anticipated to drive the metallic pigments market in the APAC region during the forecast period.

Metallic Pigments Market Drivers

Increasing Automotive Production

China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects the production of vehicles to reach 35 million by 2025. In 2019, according to OICA, the automotive production in Malaysia and Vietnam has increased up to 571632, and 250000, i.e., 1.2%, and 5.5%, higher than the previous year due to the rising per capita income of the individuals. Metallic pigments have become an ideal choice for printing decorative labels and eye-catching graphics with growing market demand for specialty products and attractive packaging. In addition, increase in demand for metallic pigments such as stainless steel and aluminum alloy in the automotive industry, as it imparts elegant appearance, silver metallic finish, and degradation resistance and makes metallic pigments suitable for wheel coatings, interior coatings, other parts, and accessories of the automobile is likely to drive the growth of the market during the forecast period.

Expanding Cosmetic Sector

Metallic pigments can give many other cosmetic dyes brilliance, color, and coverage. While the list of approved colorants for cosmetics and personal care has been limited by international legislation, metallic pigments can be used to extend the current color palette available to cosmetic formulators by combining them with other colorants, such as organic and pearlescent pigments. Also, they can create polychromatic effects. According to the India Brand Equity Foundation (IBEF), the market size of India's beauty, cosmetic, and grooming market will reach US$20 billion by 2025 from the current US$6.5 billion. According to the International Trade Administration (ITA), the beauty and personal care products market of Thailand was valued at approximately US$6.2 billion in 2018 and is expected to reach US$8.0 billion in 2022. Thailand's beauty care and personal care industry are anticipated to have a growth of 7.3% per year from 2019 to 2022. According to International Trade Administration (ITA), the total cosmetic production of France increased from 22,236 in 2018 to 22,680 in 2019. Thus, the expanding cosmetic sector acts as a driver for the market.

Metallic Pigments Market Challenges

Stringent Government Regulations

The stringent government regulations related to volatile organic compounds & particulate matter emissions and may act as a growth restraint. For instance, EU REACH regulations relating to chemical production and its effect on health and the environment and Chinese VOC regulations relating to operations in the printing, paint & coating, packaging, and chemical industries may have a negative impact on the growth of the industry. In addition, the increasing regulatory interference in Europe by the Swiss Chemicals Ordinance (ChemO) and REACH, the tightening of VOC and Chinese environmental regulations, and the growing global concern about pigment migration in printing inks are likely to hamper market growth over the forecast period.

Metallic Pigments Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the metallic pigments market. Major players in the metallic pigments market are Kolortek Co. Ltd, Carl Schlenk AG, Silberline Manufacturing Co. Inc., Sun Chemical, Ametek Inc., Asahi Kasei Corporation, Toyal America, Inc., BASF SE, Umicore N.V., Metaflake Ltd., Geotech, COPRABEL, Hunter Chemical, LLC, First Source Worldwide, Crescent Bronze Powder Co., Badger Color Concentrates, Inc., ALTANA, and FX Pigments Pvt. Ltd.

Acquisitions/Technology Launches

In April 2019, Carl Schlenk AG launched aluminum-based pigments to be used in the cosmetics industry that are suitable for aqueous formulations. The product launch enabled the growth of the market in the cosmetic sector as well.
In March 2019, Sun Chemical Performance Pigments launched highly concentrated aluminum preparation for powder coatings Benda Lutz COMPAL PC. It came in a ground-breaking pelletized form, nearly eliminating dusting to minimize housekeeping, simplifying clean-up facilities, and improving employee exposure.