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Pearlescent Pigments Market By Top Key Participant Sudarshan chemicals industries, Fujian Kuncai Material Technology, DIC, Merck KgaA, CRISTAL
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Multiple applications of pearlescent pigments market can be divided into automotive paints, decorative paints in toys & textiles and plastics. Automotive paints application contributes majorly in terms of value owing to inclined consumer preference for high value coatings and high lustre paints on luxury and sports cars. These applications are pertaining to varied end-use industries such as paints & coatings, cosmetics, and construction. Paints & coatings contributes major chunk in terms of volume. Upsurge in demand for these products in food packaging, plastic and cosmetic products is likely to drive pearlescent pigments market in near future.
North America is dominated by the U.S. pearlescent pigments market. Rising popularity of luxury and sports vehicles with high performance coatings has boosted the product demand in automotive sector of the region. The U.S. environmental policy has banned the use of dyes that are harmful to environment as well as humans, this has increased the pigments demand as they are eco-friendly due to low VOC emissions.
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Europe, led by Germany and Italy are leading pearlescent pigments market owing to well-established automotive sector. Improving economic conditions in the region is likely to foster the product market. These pigments are preferred over other products due to their low content of heavy metals including lead, chromium, mercury and cadmium which makes it less toxic and non-hazardous. Technological innovations and increase in automobile and construction industry will accelerate the pearlescent pigments market in several years.
China, India and Vietnam has driven Asia Pacific pearlescent pigments market due to rise in purchasing power of consumers. Ever increasing population in China and India has increased the need of automobiles which in turn has a positive effect on product market. Increased awareness regarding beauty and appearances in consumers have made a significant impact in cosmetic industries promoting application of the pigments. Upsurge in automobile manufacturing companies in emerging economies including Japan and South Korea will reinforce the product usage between 2017 and 2024.
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Global pearlescent pigments market is fragmented in nature with presence of several local and international players. Some key manufacturers are BASF SE, ALTANA AG, Sudarshan chemicals industries, Fujian Kuncai Material Technology, DIC, Merck KgaA and CRISTAL. Certain other prominent formulators includes Spectra Colours Ltd., Oxen Special Chemicals Co., Zhejiang Ruicheng, Lansco Colours Ltd., kolorjet Chemicals and Aal chemicals.
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