The global aluminum pigments market is projected to grow at a CAGR of nearly 6.6% between 2019 and 2027.
Consumer preference for high-performance aluminum pigments with attractive esthetic features has been rising significantly of late. Aluminum pigments are widely employed in the formulation of automotive paints & coatings to enhance their aesthetic properties.
Aluminum pigments are a special type of pigments that provides silver color with excellent metallic effects. Pigments are broadly used to offer lustrous, glossy, and shiny effects.
Aluminum pigments impart the metallic effect by scattering light on rough surfaces or reflecting light on a smooth surface. Usage of aluminum pigments helps provide a metallic appearance to products, thus enhancing their esthetic features.
·Aluminum pigments are available in different shapes and sizes such as lamellar flakes (cornflakes), lenticular flakes (silver-dollars), and vacuum metalized pigments (VMPs). Furthermore, aluminum pigments are classified into two groups - leafing and non-leafing - depending on wetting properties.
The global aluminum pigments market has been expanding significantly in the last few years. The automotive industry has experienced considerable growth in developing countries over the last couple of years. This, in turn, has significantly boosted the demand for aluminum pigments in paints & coatings.
The emergence of advanced technologies in the development process of aluminum pigments is projected to create lucrative opportunities for the market during the forecast period.
Aluminum pigments are employed widely in paints and coatings, plastics, personal care, printing inks, and construction materials.
Paints and coatings accounted for more than 45% share in the global aluminum pigments market in 2018. Aluminum pigments are used in paints & coatings to create metallic effect with good hiding power.
They also act as anti-corrosion and anti-reflection agents. These pigments are employed in various types of coatings such as automotive, refinish, coil, conductive, roof, heat resistance, and primers.
Plastic end-use stood the second largest segment in the global aluminum pigment market. Aluminum pigments impart metallic effects such as glittering in the plastic industry. These pigments are widely used in thermoplastics due to their functional properties.
Personal care was another lucrative end-user segment of the aluminum pigments market in 2018.
Aluminum pigments are largely employed in the production of several personal care products such as eye shadows, nail varnishes, mascara, blushers, shampoos, body washes, lotions, and creams to impart shimmering effects.
The growth of the personal care industry is estimated to propel the market for aluminum pigments in the next few years.
The printing inks segment held a substantial share in the global aluminum pigments market in 2018.
Aluminum pigments are widely used in printing inks to provide metallic effects to various items such as brochures, labels, packaging, carton boards, self-adhesive films, leather goods, and metals.
Asia Pacific was the largest consumer of the global aluminum pigments market in 2018.
The region is estimated to dominate the market during the forecast period due to the increasing demand for these pigments in major end-user segments.
A rising trend in the automotive industry in developing countries such as China, India, Singapore, Thailand, and Malaysia has fueled the demand for aluminum pigments in the paints and coatings segment. China is projected to be the largest consumer of aluminum pigments by 2027.
The paints & coatings industry has been driving the demand for aluminum pigments in developed regions such as North America and Europe.
Decent growth in the automotive industry is anticipated to encourage the growth of the aluminum pigments market in Europe and North America during the forecast period.
Middle East & Africa is expected to be a lucrative market for aluminum pigments during the forecast period. The paints & coatings segment is estimated to be the largest end-user of the aluminum pigments market in the Middle East & Africa during the forecast period.