Albany, NY, July 15, 2015 (GLOBE NEWSWIRE) -- According to the report, the global metallic pigments market was valued at US$ 736.2 Mn in 2014 and is anticipated to reach US$ 1,286.7 Mn in 2023, expanding at a CAGR of 6.4% between 2015 and 2023.
Rise in demand for automotive coatings coupled with growth in printing inks and plastics industries in Asia Pacific has been driving the metallic pigments market. Metallic pigments are used to provide glossy and shiny effects to products. These pigments have the ability to enhance visual effects of products. Furthermore, metallic pigments offer corrosion resistance, opacity, and ductility to products. Increase in demand for metal paints as compared to solid paints has been the key to growth of the metallic pigments market in the past few years. Metallic paints are gaining higher market share vis-à-vis solid paints in developed and developing countries. Furthermore, technological breakthroughs are expected to propel the metallic pigments market in the near future. However, volatility in prices of raw materials and higher prices of precious metals are estimated to hamper market growth in the near future.
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Aluminum was the largest product segment, accounting for a major share of the global metallic pigments market in 2014. Aluminum pigments are used in paints & coatings, printing inks, and plastics, as these offer silvery effect to the substrate. Copper accounted for over 15% of the global metallic pigments market share in 2014. Along with zinc, copper is used to provide gold bronze effect to products. Copper and zinc pigments are used in personal care, paints & coatings, and printing inks industries. Stainless steel and chromium are also among the major product segments of the global metallic pigments market.
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In terms of demand, paints & coatings has been dominating the metallic pigments market since the past few years. Metallic pigments are used in architectural as well as automotive OEM and refinish coatings in larger quantities. Furthermore, these pigments are used in marine coatings, are they provide corrosion resistance. In terms of demand, printing inks accounted for the second-largest share of the metallic pigments market in 2014. These pigments are used in digital, gravure, flexography, and offset inks. Personal care is estimated to be the fastest growing end-user of metallic pigments in the near future. Plastics and building materials are likely to exhibit stable demand for metallic pigments during the forecast period.
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In terms of demand, Asia Pacific has been dominating the metallic pigments market since the past few years. The region held over 30% share of the global demand for metallic pigments in 2014. This trend is estimated to continue during the forecast period. Rise in demand for paints & coatings, printing inks, and plastics have been key factors driving the metallic pigments market in Asia Pacific. North America and Europe are projected to exhibit decline in the demand for metallic pigments owing to stringent environmental regulations in the regions. Latin America and Middle East & Africa are likely to be the emerging markets for metallic pigments during the forecast period.
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The report provides a comprehensive view of the metallic pigments market in terms of volume and revenue. It includes current demand analysis and forecast for product segments and end-users in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Furthermore, the report provides detailed country-wise analysis of the metallic pigments market in the regions mentioned above.
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The Metallic Pigments Market has been divided into the following segments:
Metallic Pigments Market - Product Segment Analysis
- Stainless steel
- Others (Including nickel, etc.)
Metallic Pigments Market - End-user Analysis
- Paints & coatings
- Personal care
- Printing inks
- Others (Including construction materials, etc.)
Metallic Pigments Market - Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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