Strategic partnerships that define the competitive landscape of major industries, will be one of the key factors impacting Aluminum Pigments Market growth worldwide. These profitable business growth strategies are likely to pave the way for business expansion. In the first quarter of 2017, Nexeo Solutions Inc., a world leader in chemicals & plastic distribution, and Silberline Manufacturing Company Incorporation, a leading firm involved in the production & supply of special effect aluminum pigments, have further extended their corporate relationship. It is expected that this partnership will help both the industry players to improve their market position, value chain, and product portfolio. The rising popularity of customized, aesthetically designed vehicles with shimmering paints will encourage the industry participants to make more investments in R&D activities and introduce new products, thereby impelling the growth of aluminum pigments market. According to Global Market Insights, Inc., “Aluminum pigments industry value, worth USD 350 million in 2016, is slated to surpass USD 580 million by 2024.”
U.S. Aluminum Pigments Market size, by end-user, 2013 – 2024 (USD Million)
Aluminum pigments market has firmly established its foothold across major topographies. For instance, North America aluminum pigments industry is predicted to generate a revenue of more than USD 130 million by 2024, registering a CAGR of nearly 6% over the coming seven years. Robust demand for cosmetic items along with the flourishing automotive sector will boost the regional revenue.
Asia Pacific aluminum pigments market size, which was evaluated at nearly USD 120 million in 2016, is projected to grow at a cumulative rate of over 7% during the period from 2017 to 2024. Growing demand for printing inks, automobiles, and cosmetics by the end-users will upsurge the industry expansion across the region. Developing regions of APAC such as India, South Korea, China, and Japan are more likely to favorably influence the business growth curve.
Latin America aluminum pigments industry, which is projected to hit a revenue of over USD 30 million by 2024, will record a CAGR of more than 6.5% over the coming timeline. The flourishing construction sector along with the growing preference for paints & coatings in the construction activities will propel the regional industry growth.
Aluminum pigments are widely used across the paints & coatings, cosmetics, printing inks, personal care, and plastic sectors. Growing product demand across cosmetic items such as lipsticks and nail paints will scale up aluminum pigments industry growth graph in the cosmetics sector. Aluminum pigments market value in plastic sector, on the other hand, which is predicted to hit more than USD 110 million by 2024, is estimated to record an annual growth of more than 6% over the next few years. High plastic requirement in different sectors such as automobile, construction, hospitals, etc., will influence the aluminum pigments market revenue.
Personal care applications, which are foreseen to produce a revenue of over USD 55 million by 2024, are anticipated to record a CAGR of more than 6.5% during the period from 2017 to 2024. Paints & coatings sector, which contributed over 40% toward global aluminum pigments market share in 2016, is expected to make a remarkable contribution towards the industry size in the next few years. Rise in the sale of passenger vehicles & aircrafts with the prospering tourism sector will boost the demand for the product. Enhanced product application across thriving construction, automobile, and aviation sectors will further impel aluminum pigments industry growth.
Aluminum pigments industry revenue in the printing inks sector, which was assessed at over USD 60 million in 2016, is set to grow at a rate of 6% over the years to come. Growing use of the product to impart metallic color effects to printing goods such as labels, packaging substances, brochures, leather, and films will fuel aluminum pigments industry expansion.
Aluminum pigments market is segmented into non-leafing and leafing grades based on the pigment grades. Non-leafing grades are expected to make a major contribution toward the overall industry growth over the coming years, due to their lasting impact on the metallic paint coated surfaces and their exceptional ability to resist paint abrasion and corrosion. Thriving automobile sector along with the growing preference towards personal & passenger vehicles across emerging economies of APAC regions will further influence the business landscape.
Growing product popularity across printing inks and cosmetic items, owing to its ability to enhance the luster effect of the surface will boost the demand for leafing grades, which in turn, will favorably impact the business space.
Aluminum pigments market is highly consolidated with top four players contributing over 33% toward the overall industry revenue in 2016. Key players of aluminum pigments industry include Nihonboshitsu Company Limited, Zhangqiu Metallic Pigment Company Limited, Carl Schlenk AG, ALTANA AG, Sun Chemical, Metaflake Limited, The Arasan Aluminum Industries Limited, Toyal America Incorporation, Mono Pigment Developments Limited, ALBA ALUMINIU SRL, Silberline Manufacturing Company Incorporation, and Asahi Kasei Corporation.