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Metallic pigments market to reach US$ 2.3 billion by 2024, Boosted by automotive sector

Author : Ravi Chawat | Published Date : 2021-03-16 

Metallic Pigments market in North America is estimated to register commendable growth over the forthcoming years owing to enormous demand from regional automotive industry. As automobile manufacturers are inclined on introducing innovative features and enhanced appearance to their vehicles, they are producing vehicles with effect pigment coatings. These coatings are commonly aluminum pigments and colored aluminums with very fine particle size. According to American Coatings Association, effect pigments are the fastest growing vertical across high-performance pigment industry and over 70% of automotive colors in new builds in the Americas comprise of these pigments.

Global metallic pigments market is poised to gain massive traction over the foreseeable future, considering the rising product adoption across several industries including cosmetics and skin care, automotive, construction, printing and packaging, paints, plastics, and so on. Metallic pigments improve the attractiveness as well as exclusivity of products by enhancing their appearance and functionality.

 

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In addition, leading manufacturers in metallic pigments market are emphasizing on strengthening their product portfolio through technologically advanced solutions. For instance, in 2020, ALTANA announced the acquisition of TLS Technik GmbH & Co., one of the eminent manufacturers of metal powders for 3D printing. According to the company, this strategic move is aimed at expanding their product portfolio in 3D printing for manufacturing of industrial additive and positioning themselves in a technology market. Such effective steps from the industry players will provide ample growth opportunities to the global market.

According to Global Market Insights, Inc. report, metallic pigments market is projected to foresee a remarkable growth over the coming years, attributing to below mentioned trends:

Aluminum metallic pigments are projected to witness a substantial growth over the coming years, attributing to wide applications of these pigments including skin care products such as sunscreen lotion, graphic arts and inks, protective metallic coatings for buildings and bridges, automotive paints, etc. Aluminum pigments are used in these applications primarily due to their light reflection and absorption properties. The pigment alters the color of reflected light and provides sparkling effect.

Further, aluminum pigment coatings show wide range of appearances such as “liquid metal” appearance, metallescent (colorful pearlescent effect), glitter effect and pinpoint sparkle. Such light-absorption and reflective factors provide different appearances to paints and coatings used in automobiles.

Metallic ink pigment application for printed goods is becoming increasingly popular across packaging and label industry for enhancing brand recognition and identification for products placed in supermarkets and other retail stores. Metallic pigments are majorly used for these applications as they provide a very appealing effect to product packaging through their shiny golden and silver effects, which appear highly attractive to human eyes. Further, technological developments in the industry have enabled manufacturers to provide metallic effects on paper, film and carton-based packaging.

With regards to rising preference for metallic ink, industry players are focusing on developing new products to effectively serve the increasing demand. For instance, in 2015, Xerox, one of the renowned market players, announced introduction of Pantone® metallic silver and gold specialty dry inks to its Color 800i/1000i. According to the company, this new development was aimed at offering their customers with more enhanced documents lined with metallic silver or gold inks. Reportedly, this product launch helped the company gain a competitive advantage in the market.

Metallic pigments are extensively used in personal care and cosmetics products for imparting color, coverage and brilliance to cosmetic colorants. These pigments enable cosmetic formulators to expand existing color palette by mixing them with several other colorants, such as pearlescent and organic pigments. Further, they also create polychromatic effects and provide enhanced tinting strength.

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Moreover, metal pigments prevent light to pass through them, which imparts complete coverage as compared to other pigment types namely pearlescent and absorption pigments. This coverage offers several benefits in all categories of skin care and color cosmetics, for instance, 1% addition of a silica-encapsulated metallic pigment in a skin care emulsion can provide even skin texture and tone with no appearance of coloration. This makes metallic pigments ideal for concealers, foundations and lotions designed for improving appearance of skin.

Considering the significance of above-mentioned advantages of metallic pigments for cosmetics, the industry is projected to witness an accelerating demand from cosmetics industry over the upcoming years, thereby enhancing the business growth.

Additionally, prominent manufacturers of metallic pigments are inclined on offer enhanced solutions in order to gain a strong market presence. For instance, in 2020, SCHLENK announced the launch of its new effect pigment for automotive coatings named Zenexo® GoldenShine WB 21 YY. The company stated further that this new product is based on UTP®-Technology which provides effect pigments with superior hiding power, excellent flop as well as unrestricted safety in terms of storage and transport. Moreover, it also offers improved humidity and weather resistance.

Browse More News:

https://www.globenewswire.com/news-release/2020/04/01/2010390/0/en/Titanium-Dioxide-Market-is-slated-to-surpass-27-billion-by-2026-Says-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2019/07/29/1892694/0/en/Bitumen-Membranes-Market-to-cross-USD-3-5-Bn-by-2025-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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