Press release
Rise in Global Aluminum Pigments Market by 6.4% CAGR by 2024
Paints and coatings was the largest end-user industry of the global aluminum pigments market in 2015, with a market share of over 45% in terms of volume. Plastics, personal care, and printing inks were the other prime end users of aluminum pigments at the time. Competitively speaking, the global aluminum pigments market is dominated by large and mid-sized players, with little scope of entry for new players. Altana AG, Silberline Manufacturing Co. Inc., Carl Schenk AG, and three others held about 48% of the global aluminum pigments market in 2015, showing the high level of consolidation that new entrants will have to tear through.
In coherence with the above points, the global aluminum pigments market is expected to be valued close to US$581 mn by 2024. It is projected to expand at a CAGR of 6.4% between 2015 and 2024 in terms of revenue, and stood at US$332 mn in 2015. In terms of value, the global aluminum pigments market was estimated at nearly 47 kilo tons in 2015.
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Auto Industry’s Demand for Aluminum Pigments Leads Companies to Asia Pacific for Better Opportunities
Aluminum pigments have always witnessed high demand in paints and coatings manufacturing, owing to the wide scope of utility they offer. Aluminum pigments impart smoother surfaces and metallic finishes to paints and coatings along with other highly sought-after physical properties. These pigments are largely concerned with the aesthetic side of paints and coatings, which means that nations with a low economic situation will not hold a feasible market for its consumption. On the other hand, major nations in Asia Pacific and Latin America are currently showing a very high rate of industrial development. China especially is showing a very high demand for aluminum pigments owing to its rapidly growing production and consumption rate of automobiles.
Additionally, consumers in the Asia Pacific region are showing a steadier growth in disposable income, which is allowing them to opt for better quality of products and higher aesthetics. This applies to automobiles as well, consequently creating a much higher demand for aluminum pigments and specialized coatings.
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Personal Care Industry Shows Exceptional Growth in Aluminum Pigments Demand
The personal care industry makes a significant use of aluminum pigments in products such as body washes, hair gels, shampoos, lip gloss, nail polishes, and eye shadows. Aluminum pigments are preferred as they provide a highly attractive silver white effect to the personal care products, which can help increase the product sales. Consumers are currently showing a high rate of interest in aesthetically pleasing personal care products and cosmetics, due to which the global aluminum pigments market is finding excellent opportunities of growth in the personal care industry.
Similarly, the global aluminum pigments market is also experiencing growth in demand from the manufacturers of printing inks, as the pigments can be used in a wide array of ink types, including gravure, screen, and flexographic inks. Aluminum pigments can improve the opacity of printing inks on difficult surfaces, thereby enhancing the visual appeal and legibility of the print.
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