The global pearlescent pigment market is expected to reach USD 547.8
million by 2022, according to a new report by Grand View Research, Inc. Growing
demand for high performance, high brilliance paints on account of expanding
automotive & construction industries in emerging markets is expected to
remain a key driving factor for the global market.
Shift in trend towards reducing VOC emissions and growing
awareness regarding sustainability is also expected to act as a vital
determinant for market growth. Developed markets are anticipated to face
obstacles in the form of stringent regulatory norms, hampering market growth
over the forecast period.
Titanium dioxide (TiO2) coated mica pigment was
the leading product segment with demand share exceeding 35% in 2014. High
consumption rates of these pigments across automotive, construction and printing
ink industries is expected to drive this segment over the forecast period. It
is also expected to witness the highest growth of 5.1% from 2015 to 2022.
Iron/ferric oxide mica pigment is also expected to witness
brisk growth owing to its high refractive index, metallic luster, excellent
hiding properties and weather resistance. Increasing application in the
cosmetics and printing inks sector is a major driving force for the product.
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Further key findings from the report suggest:
- Global pearlescent pigment market demand was 74.8 kilo tons in 2014 and is expected to reach 100.7 kilo tons by 2022, growing at a CAGR of 4.6% from 2015 to 2022
- Paints & coatings was the leading application segment and accounted for 34.1% of total market volume in 2014. Increasing consumer preference for high-value coatings and colorful iridescence on sports and luxury vehicles is likely to foster market growth. Plastic is expected to witness the highest growth of 5.1% from 2015 to 2022.
- North America was the leading regional market with demand share estimated at 38.2% in 2014. Recovery of construction and automotive industry in the U.S. is expected to drive the regional growth.
- Asia Pacific is expected to witness the highest growth of 5.1% from 2015 to 2022. Rapid industrialization and expansion of major end-use industries such as automotive and construction particularly in China and India is expected to drive the regional growth.
- Global pearlescent pigment industry is fragmented with presence of several major multinationals and smaller regional players across the globe. Key participants operating in the industry include BASF SA, Sun Chemical Performance Pigments, Huaian Concord Industrial Products Co. Ltd., Lansco Colors, L’Arca Srl., Fujian Kuncai Fine Chemicals Co. Ltd., RIKA Technology Co. Ltd and Smarol Technology Co. Ltd.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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