Aluminum Pigments Market at Steady CAGR (Compound Annual Growth Rate) of 6.4% between 2016 and 2024

As per a Transparency Market Research study report on the global aluminum pigments market, it will chart a steady CAGR (Compound Annual Growth Rate) of 6.4% between 2016 and 2024, pulling the market worth up to USD 581 million by the end of the forecast period from a USD 332 million in 2015.

One of the largest use of aluminum pigments is in the manufacturing of paints and coatings, which are used on printing inks, and plastics majorly. In printing inks, demand rises from certain types of inks such as flexographic inks, screen inks, and gravure inks. Other industries that demand for aluminum pigments include automotive and personal care.

Automotive Sales to Push Global Aluminum Pigments Market onto a High Growth Trajectory over the Forecast Period

The automotive market and the aluminum pigments market are co-extensive - growth in one leads to growth in another. And, automotive demand is set to increase over the forecast period owing to rising disposable incomes and technological advancement in the field. This is going to be the case particularly in the Asia Pacific region where some of the nations are doing extremely well on the economic front.

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It is also worth noting here that the region is marked by some of the most prominent names in terms of automotive manufacturers and this is set to lead to massive growth in the global aluminum pigments market.  Additionally, more players and truing to move assembly bases and manufacturing facilities to the said area, and will contribute to the growth of the global aluminum pigments market over the forecast period.

Personal Care to Drive Impressive Growth in the Global Aluminum Pigments Market over the Forecast Period

As disposable incomes see an upward curve and awareness regarding person care and grooming catches up with more and more people, demand for products such as eye shadows, lip-sticks, shampoos, and body washes go up significantly. Known to give an attractive white and silver appearance to products it is used in, aluminum pigment lures consumer by appealing to sense, driving sales, and thus, revenue in the personal care products market. It is critical to note here that the for the new-age consumer, appearances matter, both of his own and of the product, and thus the particular fact is a significant factor of growth in the global aluminum pigments market over the forecast period.

Consolidated Vendor Landscape to Keep Competition Intense in the Global Aluminum Pigments Market over the Forecast Period

It is important to note here that while a decent number of players operate in the market landscape, entry for new players is not that easy. Only players with a sizeable chunk of share in the global aluminum market are able to maintain a steady hold. Major share is in control of some six players, three of which are Carl Schenk AG, Altana AG, and Silberline Manufacturing Co. Together, they hold as much as 50% of the total share. This is the reason behind the highly consolidated nature of the global aluminum market's competitive landscape.

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