Metallic Pigments Market - Global Industry Analysis 2023
Rising Demand for Industrial Coatings to Boost Growth
The global metallic pigments market is driven by the increasing demand for industrial coatings, marine coatings, and aerospace coatings. As the consumption of metallic pigments increase in the printing inks and plastic component manufacturing, it will subsequently create lucrative prospects for the market. By the end of 2023, the market is therefore projected to exhibit robust growth.
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A majority of the demand witnessed in the global metallic pigment market will be witnessed in the emerging nations. The increasing production base, expansion of the printing inks and plastics industry, and supportive government regulations will act in favor of the market enabling it report positive CAGR through the course of the forecast period. Among the various nations, demonstrating opportunities for companies operating in the metallic pigments market, those witnessed in India, China, and Southeast will be considerably lucrative.
Industrialization in Emerging Nations Holds Potential for Growth
Besides Asia Pacific, Europe also prove to be a profitable ground for the global metallic pigments market. The market witnessed a relatively faster rate of growth in Europe due to stringent regulations implemented by the European Union to curb VOC and particulate emissions. In North America the market however continued exhibiting stable growth on account of the advanced technologies and established markets favoring the market’s trajectory. In addition, the increasing opportunities in Latin America will also provide impetus to the market. Other developing nations such as Brazil also hold strong potential for the market’s growth. It is thus evident that industrialization and urbanization witnessed across emerging nations have been a chief driver of the global metallic pigments market.
Stringent Emission Control Norms Could Pose Threat
On the downside, the growth witnessed in the Middle East and Africa was sluggish and is expected to remain so through the course of the forecast period. This could be a significant concern for enterprises operating in this part of the global metallic pigments market. Nevertheless, metallic pigments are applied on the external surface of finished products to increase its appeal, ductility, and opacity. These features could help the market keeping witnessing significant growth through the course of the forecast period.
This review is based on a TMR market study, titled “Metallic Pigments - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
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