Aluminum Pigments Market Analysis Growth Challenges, Opportunities and Future Developments to 2031

Aluminum Pigments Market:

Transparency Market Research delivers key insights on the global aluminum pigments market. In terms of revenue, the global aluminum pigments market is estimated to expand at a CAGR of 6.25% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global aluminum pigments market.

Short Shelf Life and Controlled Storage of Aluminum Pigments Creates Challenges for Manufacturers

Remarkable color pureness and translucence of aluminum pigments are gaining popularity. However, few disadvantages of alumina effect pigments is that they have a short shelf life and need to be in a controlled storage area & container. Nevertheless, aluminum pigments have more advantages such as their flexibility in the use for water-based and solvent-based coatings. Aluminum pigments are extremely light reflective, which includes infrared and UV (ultraviolet) applications.

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The aluminum pigments market is slated to clock a CAGR of 6.25% during the forecast period. The right type of binder mixed with aluminum pigments can provide a solid resistant coating on surfaces that can last for an extended period.

Aluminum Pigments Market: Key Players

Key players operating in the global aluminum pigments market are Alba Aluminiu, Altana, Asahi Kasei Corporation, Carlfors Bruk, Carl Schlenk AG, GEOTECH, Metaflake Ltd., MEPCO, Silberline Manufacturing Co., Toyo Aluminium K.K., BASF SE, and Sun Chemical.

Aluminum Pigments Market: Dynamics

The drive to introduce eco-friendly technologies in the pigment development process is likely to provide lucrative opportunities for the aluminum pigments market. The aluminum pigments market faces the challenge of meeting environmental regulations. Market players strive to achieve sustainability by implementing advanced technologies and manufacturing processes.

They are focusing on using technologies that help lower the emission of VOCs and maintain the esthetic performance of aluminum pigments. Advanced inhibition technology needs to be adopted to make aluminum pigments compatible with the waterborne application system. Aluminum reacts with water to form hydrogen gas, which damages the hiding power, color, and orientation of aluminum pigments.

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Aluminum Pigments Market: Prominent Regions

North America is a key region of the global aluminum pigments market. The U.S. held large share of the aluminum pigments market in North America in 2020. The growth of the market in the country can be ascribed to the expansion of the cosmetics industry. The increase in usage of personal care and skincare products in the U.S. is driving the cosmetics industry in North America. According to the Forbes magazine, the U.S. was the world’s largest beauty market in 2020.

Women in the U.S. spend around US$ 3,756 on cosmetics annually. The use of aluminum pigments in cosmetic products offers new styling potential as well as imparts unique effects. Aluminum pigments offer high gloss and mirror-like reflection; therefore, they are widely used in the manufacture of nail polishes, glitter eyeliners, lipsticks, and mascara. The rise in the demand for cosmetics products is expected to boost the consumption of aluminum pigments in North America in the near future.

The rapid growth of the aluminum pigments market in Europe can be attributed to the expansion of the electronic vehicles industry in the region. The implementation of stringent regulations on reduction of carbon footprint is boosting the purchase of electronic vehicles. Electronic vehicles use batteries to store energy. This eliminates the need of traditional gasoline fuel, thereby eliminating the emission of hydrocarbons.

Aluminum pigments are used for the purpose of coating of plastic and composite parts used in e-vehicles. Aluminum pigments also impart metallic effect. According to the Electric Vehicle World Sales Database, Europe held 43% share of global electric vehicle sales in 2020 compared to 26% share held in 2019. Thus, rise in sales of electric vehicles in Europe is expected to fuel the aluminum pigments market in the region.

Aluminum Pigments Market, by Region

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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The increase in the demand for aluminum pigments in Asia Pacific can be ascribed to the rise in sale of consumer electronics products in the region. Aluminum pigments are dispersed in masterbatches. These masterbatches are used for the purpose of coloring of plastics. People in India and China are increasingly opting for products with improved esthetics as well as functional abilities. Aluminum pigments offer higher gloss as well as metallescent effects to plastics.

This is estimated to boost the demand for aluminum pigments in the near future. According to the IBEF (Indian Brand Equity Foundation), the appliance and consumer electronics market in India reported sales of US$ 10.93 Bn in 2019 and is anticipated to reach US$ 21.18 Bn by the end of 2025. Changing lifestyle, rise in disposable income, and increase in per capita income are responsible for the growth in sales of consumer electronics products in India.

Revenue Opportunities in Powder Coatings Contribute to Market Expansion

Different flake shapes of aluminum pigments such as conventional, lenticular, non-degradable, and physical color deposition are gaining popularity. Companies in the aluminum pigments market are expected to join forces with researchers to develop various chemistries in order to optimize the interaction of aluminum flake surface for imparting outstanding performance in various applications. Deploying optimum aesthetics with the help of waterborne coatings induced with aluminum pigments have become crucial in various end-use applications.

Global Aluminum Pigments Market: Segmentation

Aluminum Pigments Market, by Type
Leafing
Non-leafing

Aluminum Pigments Market, by Form
Paste
Pellet
Powder
Others (including Flakes and Granular)

Aluminum Pigments Market, by Application
Paints & Coatings
Plastics
Personal Care
Printing Inks
Others (including AAC Blocks and Detonators)

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Aluminum Pigments Market: Overview

According to Transparency Market Research’s latest research report on the global aluminum pigments market for the historical period of 2020 and the forecast period of 2021 to 2031, latent demand for aluminum pigments among end-use industries (automotive coatings, plastic coatings, and printing), owing to their esthetics as well as functional properties is anticipated to boost the aluminum pigments market during the forecast period

In terms of revenue, the global aluminum pigments market is expected to reach US$ 891.9 Mn by 2031, expanding at a CAGR of 6.25% during the forecast period. Based on application, pigments can be segregated into three categories: inorganic pigments, organic pigments, and specialty pigments. Aluminum pigments fall under the specialty pigments category.

These pigments impart metallescent effect or sparkle and glitter effect when applied. Aluminum pigments also meet functional requirements. For instance, they offer enhanced corrosion protection as well as enhanced conductivity to the surface on which they are applied.

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