Metallic Pigments Market Size, Growth Opportunity 2024 |Top Companies are BASF, Sun Chemical, Silberline, ALTANA AG, Clariant, Ferro Corporation
Increasing awareness among people regarding the need to use sustainable, low carbon emission paints and coatings is a major factor supporting developments in metallic pigments market. Aluminum and copper metallic pigments have witnessed extensive demand due to the wide availability of various products.
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Metallic pigments market has witnessed significant demands from the automobile sector over the last few years. In the year 2018, the total number of vehicles produced globally stood at 98.1 million due to the improvement in purchasing power among people in both developed and developing nations.
With nations such as China, India and Brazil witnessing advancements in the regional automobile sector, the demand for metallic pigments to be used in the production and finish of vehicles is expected to soar over time. Furthermore, the introduction of electric vehicles owing to the strict regulations regarding the need to control carbon emissions is magnifying the demand for metallic pigments.
A boom in infrastructure sector primarily due to the growing demand for green construction, architectural flexibility and industrialization along with efforts taken by the government to provide affordable housing solutions has supplemented growth in the metallic pigments market. Metallic pigments offer attractive and long-lasting color to many construction materials like cast-in-situ concrete, roofing tiles, pavers and precast concrete.
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There has been significant growth in the infrastructure sector due to the rising demand for industrialization, affordable housing, green construction and architectural flexibility triggering. Metallic pigments market share will boom with stainless steel-based protective coatings and conventional water applied over metal substrates for an improved protection feature.
The products tend to form a multilayered structure that is tightly bonded to the substrate. The latter gives out flake particles despite losing the coating binder and provides sustained protection, stimulating the revenue size.
Stainless steel metallic pigments market size from the paints and coatings application will record a growth of more than 5.5% between 2018-2024 on account of abrasion & corrosion resistance, hardness, ultraviolet resistance and high strength features.
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