Metallic pigments market size expected to reach US$1121.6M in 2021

According to the latest report from Zion Research, the global metallic pigments market was valued at US$781.6M in 2015, is expected to reach US$1121.6M in 2021 and is anticipated to grow at a CAGR of 6.2% between 2016 and 2021.

Metallic pigments are utilised for protecting metallic surfaces against corrosion. Aluminium, Stainless steel, copper and zinc pigments provide an individual colour shade with which gates, masts, frames, doors and other constructions or equipment parts can be effectively coated.

The report titled ‘Metallic Pigments Market (Aluminum, Zinc, Copper, Stainless Steel, and Others) for Paints & Coatings, Plastics, Personal Care, Printing Inks and Other Applications – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021’ states that the global metallic pigments market has been witnessing robust growth over the past few years owing to growth in the paints & coatings industry. The architectural paints & coatings market has grown significantly due to growing infrastructural development and construction activities in emerging countries. Furthermore, growth in the automotive sectors has boosted the market for decorative paints & coatings. However, enactment of stringent rules regarding usage of pigments is anticipated to restrict market growth within the forecast period. Beginning of nanotechnology is projected to create lucrative opportunities in the metallic pigments market in the upcoming years.

The metallic pigments market has been segmented on basis of product, end-user, and region. On basis of end-user industries, the market is classified into paints & coatings, plastics, personal care, printing inks and others. Paints & coatings held the largest market share in 2015 followed by personal care segment owing to budding fashion trends in emerging markets, such as Asia Pacific and Latin America.

On basis of product, the market is segmented into aluminium, copper, zinc, stainless steel and others. The aluminium metallic pigment held the largest share in 2015 and is expected to grow at highest CAGR in the forecast period. Aluminium pigments are used as colouring additives. Aluminium pigments provide the silvery metallic finish to the substrate and are broadly used in automotive coatings. Growing demand for better sheen and radiant effects is anticipated to drive the segment during the forecast period.

The worldwide metallic pigments market in 2015 was dominated by Asia Pacific. It accounted for around 35% of the global metallic pigments market. Emerging countries in the Asia Pacific region, such as China and India are major pigment consumers, where the automotive industries is developing at a rapid pace in recent years. This, in turn, drives the metallic pigment demand in the region. The Middle East & Africa and Latin America are estimated to be the emerging market for pigments, exhibiting promising growth rate during the forecast period.

Key players operating in the metallic pigments market are BASF, Sudarshan Chemicals, Eckhart Pigments, Schlenk Metallic Pigments, Sun Chemical Performance Pigments, Ferro Corporation and Carlfors Bruk, Toyal America Inc, Asahi Kasei Corporation, Umicore and Siberline Manufacturing Co.