A study conducted at Global Market Insights Inc. suggests that the metallic pigments market size is expected to reach USD 2.3 billion by 2024.
The metallic pigments market is expected to record stellar growth on the back of growing printing ink applications. In recent years, metallic pigments are recording significant demand from the printing ink sector due to their high color efficiency. The noteworthy growth of commercial printing, publications, packaging, and the corrugated cardboard industry may accelerate the metallic pigments market growth.
In addition to printing ink applications, the metallic pigment market is gaining substantial traction from the infrastructure sector. The products impart an attractive and long-lasting color to numerous construction materials like cast-in-situ concrete, precast concrete, roofing tiles, and pavers. Significant infrastructure growth owing to increasing demand for green construction, affordable housing, architectural flexibility, and industrialization has increased the demand for the product.
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Furthermore, these products find extensive usage in concrete paints and topping, blocks, gypsum, tiles, paving stone, stamped concrete, concrete, artificial stone, and mortar, thereby accelerating the metallic pigments market growth over the forecast period.
The burgeoning implementation of nanotechnology in the paints & coatings sector to create special effect pigments is expected to accelerate overall industry growth. These paints have mica particles which have layers of numerous inorganic and organic metallic pigments. Paint companies are using these nanomaterials to enhance the features of the current paint & coating product portfolio related to their desirable properties like improved efficiency, size, and larger surface area.
In recent years, Aluminum-based metallic pigments have gained significant popularity in the cosmetic sector. In fact, the cosmetic applications segment was valued at $80 million in 2017. These products exhibit improved performance, offer high reflection, and wide coverage. Cosmetic manufactures are extensively using aluminum powders coated with high-chrome aluminum pastes and metal oxides to obtain numerous color shades like gold, silver, green, blue, and orange. Moreover, these products can be efficiently combined with pearlescent and organic which enables manufacturers to produce numerous effects or colors, thereby accelerating the product demand.
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On the regional front, aluminum-based metallic pigments market is expected to record significant growth from the U.S. Studies suggest that U.S. aluminum-based metallic pigments market is expected to exceed USD 185 million over the ensuing years. These products have been witnessing increasing demand from the decorative & automotive, and cosmetics industries. These products can be found in platelets or flakes offering numerous aesthetic features like metallic brilliance and high color flop, which in turn will accelerate metallic pigments market growth.
Considering the competitive landscape, it is important to mention that metallic pigments market share is fairly competitive among numerous industry participants including Silberline Manufacturing, Carl Schlenk AG, Toyo Aluminum K.K., Clariant, Sun Chemical Corporation, and BASF SE.
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