Market Analysis
The global aluminium pigments market is likely to touch USD 892 million at a 6% CAGR between 2023- 2030, according to the new report by Market Research Future (MRFR). Aluminium pigments are created from aluminium flakes, paste, and powders. They are mostly utilized in colored coatings manufacturing. Aluminium pigments are resistant to harsh temperatures, weather, discoloration, and chemical attacks. It has wide applications in plastics, cosmetics, printing, paints & coatings, and others.
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Various factors are adding to the global aluminium pigments market growth. According to the new MRFR report, such factors include the booming end use industries including cosmetics, plastics, printing inks, and paints & coatings, increasing preference to print decorative labels & conceal imperfections of metal cans, and alluring features such as resistance to harsh temperatures, weather, discoloration, and chemical attacks. Additional factors adding market growth include a rising preference for nanotechnology, increasing use in aerospace, automobile and furniture industry, demand for coating products that have lower carbon footprints, technological advances in aerospace and automotive industry, and increasing R&D activities.
On the contrary, the availability of substitutes and strict regulations on mining activities are factors that may limit the aluminium pigments market growth over the forecast period.
COVID-19 Impact on Aluminium Pigments Market
The current pandemic had a negative impact on the Aluminium Pigments Market Size for the falling demand for paints & coatings in white goods, electronics, construction, and automotive goods. The recovery of the market rests largely on the duration of restrictions imposed coupled with its impact on the worldwide economic activity. On the flip side, the antimicrobial coatings are experiencing an increase in demand in the food and healthcare sectors.
Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global aluminium pigments market report based on end use industry and form.
By form, the aluminium pigments market is segmented into pellets, powder, and paste.
By end use industry, the aluminium pigments market is segmented into plastics, cosmetics, printing, paints & coatings, and others. Of these, paints and coatings will dominate the market over the forecast period.
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Key Players
Eminent players profiled in the global aluminium pigments market report include Metaflake Ltd (U.K), Toyal America, Inc. (U.S.), Asahi Kasei Chemicals Corporation (Japan), HEFEI SUNRISE ALUMINIUM PIGMENTS CO., LTD. (China), GEOTECH (the Netherlands), AMETEK.Inc. (U.S.), Silberline Manufacturing Co., Inc. (U.S.), Carl Schlenk AG (Germany), Kolortek Co., Ltd (China), and BASF SE (Germany).
Regional Analysis
Based on the region, the global aluminium pigments market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. Booming cosmetics, plastics, and paints & coatings industries, widespread use of paints and coatings in automotive, shipbuilding, and building & construction industry, changing lifestyle trend, growing consciousness regarding appearance & affordability leading to increasing sales of cosmetics, rise in the number of refineries, and developing crude oil processing methods that fuel its demand in the industrial paints & coatings market is adding to the Aluminium Pigments Market Technology Analysis growth in the region.
The global aluminium pigments market in Europe is predicted to have the second-largest share over the forecast period. High standard of living, surging demand for paints and coatings in the automobile components production, and the use of plastic products in different end-use industries as they provide lower cost, better biocompatibility, and lighter weight are adding to the aluminium pigments market growth in the region.
The global aluminium pigments market in North America is predicted to have notable growth over the forecast period. The presence of huge industrial base across Canada and the US, growing demand for aluminium pigments from the aerospace and automotive industries, and increasing production capacity are adding to the aluminium pigments market growth in the region.
The global aluminium pigments market Latin America is predicted to have steady growth over the forecast period. Increasing construction activities is boosting the market growth in the region. Brazil is the leading contributor in the region.
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