Pearlescent Pigment Market to increase at 4.1% CAGR through 2025 in terms of value
Preference for aesthetically-appealing finishes in cars is a key factor driving the growth of the pearlescent pigment market. Demand for pearlescent pigments from coatings and automotive paints sector is expected to create sustained demand during the forecast period.
A key trend identified in the global market is that over the last few years, numerous small and medium-scale players have exited the market, owing to challenges in fulfilling regulatory compliance. Further, cost of pearlescent pigments is higher in Western Europe and North America as compared to Asia Pacific, where low labour costs and easy raw material availability have helped in keeping price at competitive levels.
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Many key players are shifting production from natural mica based pearlescent pigments to synthetic variants. Further, many companies are setting up base in Asia Pacific to leverage on the highly lucrative market in the region.
Global Pearlescent Market Segmentation
The global pearlescent pigment market is segmented on the basis of product type, structure type, application and region.
On the basis of product type, the market is segmented into natural, synthetic, and glass. Among the product types, the natural pearlescent pigment segment is the largest contributor to the market growth in terms of revenue, accounting for more than 65% of the market share in 2014; however, the synthetic pearlescent pigments segment is anticipated to expand at the highest CAGR during the forecast period, with the key players shifting their focus form natural to synthetic pearlescent pigments.
On the basis of structure type, the market is segmented into monolayer, substrate free, and multilayer.
On the basis of application, the market is segmented into personal care, plastics, paints & coatings, automotive paints, printing and others (decorative paints, home appliances, architecture, and textiles). In 2014, demand for pearlescent pigments was highest in the automotive sector, accounting for 39.5% market share. In terms of volume, paints and coatings segment dominated the global demand.
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The report also offers a region-wise analysis of the pearlescent pigment market, and covers, offering 10-year market forecast in the regions of Western Europe, Eastern Europe, North America, Latin America, Middle East & Africa, and Asia Pacific Excluding Japan (APEJ), and Japan.
Western Europe and North America were the most lucrative markets for pearlescent pigments in 2014. APEJ is forecasted to witness the highest growth rates over the forecast period.
Key Companies in Pearlescent Pigment Market
Key companies covered in the report include Fujian Kuncai Material Technology Co Ltd, Sudarshan Chemicals Industries Ltd, Spectra Colours Ltd, DIC Corporation, Merck KgaA, Huaian Concord Industrial Product Co. Ltd, Sinpearl Pearlescent Pigment Co. Ltd Shanghai Zhuerna Oxen Special Chemicals Co. Ltd, BASF SE, ALTANA AG, CRISTAL, High-Tech Powder Material Co. Ltd, Aal Chemicals Ltd, Effect Pigments Co. Ltd, Lansco Colours, Zhejiang Ruicheng, and Kolorjet Chemicals Pvt Ltd.
Merck KgaA, Fujian Kuncai Material Technology Co. Ltd and BASF SE are estimated to account for the leading share of the global pearlescent pigment market in 2015.
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