In 2023, it is predicted that the market for metallic pigments would be worth US$2.3 billion. By the end of 2033, the market for metallic pigments is expected to be worth US$3.4 billion, growing at a CAGR of 4% over the previous ten years.
In Asia Pacific, the demand for metallic pigments is expected to increase more quickly, with a CAGR of 6.6%.Metallic pigments are the perfect choice for printing eye-catching images and ornamental labels due to the growing customer demand for specialised products and appealing packaging. The market is expanding as a result of rising demand for metallic pigments from the automobile industry.
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Key Takeaways from Market Study
- The global metallic pigments market is forecasted to reach a valuation of US$ 2.3 billion in 2023.
- Worldwide demand for metallic pigments is set to increase at a CAGR of 4% during the forecast period ending 2033.
- Demand for metallic pigments is anticipated to progress at a CAGR of 4.5% in Canada.
- Sales of metallic pigments are predicted to expand at a CAGR of 6.6% in the Asia Pacific region.
- Demand for metallic pigments is projected to rise at a sluggish CAGR of 2% in Germany.
- The global metallic pigments market is forecasted to reach US$ 3.4 billion by the end of 2033.
“Increasing sales of metallic pigments is attributed to their rising demand from the automotive industry due to their abilities of degradation resistance, silver metallic finish, and elegant appearance,” says a Fact.MR analyst
Competitive Landscape:
Distributors of metallic pigments are making huge investments in their supply chain management systems to meet the requirements of consumers. They are putting efforts to extend their reach across the globe. Rising expenditures by suppliers help in maintaining product standards and ensuring the delivery of quality products.
Key suppliers of metallic pigments are involved in mergers and acquisitions to extend their product portfolio.
For instance,
- In February 2021, a specialized chemicals company ALTANA finalized the acquisition of TLS Technik GmbH & Co. Spezialpulver KG. This step helped ALTANA to expand its footprint. TLS, which is situated in Germany’s Bitterfeld, has more than 25 years of experience in producing high-quality metal powder, which is used in the production of industrial 3-D printing.
Key players in the metallic pigments market are Altana AG, BASF SE, COPRABEL SA, Metaflake Ltd., Sun Chemical Corporation, Toyal America, Inc., Zhangqiu Metallic Pigment Co., Ltd., and Umicore NV/SA.
Market Trends
The development of various innovative metal oxides with new flake technology and unique substrate layering is predicted to open up lucrative opportunities in the target market. Metallic pigments are used widely in cosmetics and personal care products to manufacture dermatologically safe and high-quality skincare solutions and skin-friendly makeup.
High-performing zinc-copper blends provide long-lasting and unique gold-bronze effects to cosmetics and thus leading to noticeable demand for metallic pigments. They are also gaining prominence compared to conventional solid colors due to their versatility, sustainability, low maintenance, and compatibility. High resistance to chemicals can also generate demand for metallic pigments.
Various leading manufacturers have reduced the use of some heavy elements, including cadmium and chromium due to their toxicity and increasing environmental concerns, which are related to exposure of these metals in paints, construction materials, cosmetics, and other related applications. These factors are predicted to stimulate demand for metallic pigments in the coming decade.
Segmentation of Metallic Pigments Industry Research:
· By Product Type :
- Copper
- Aluminum
- Bronze
- Stainless Steel
- Others
· By End Use :
- Paints & Coatings
- Printing Inks
- Cosmetics & Personal Care
- Plastics
- Others
· By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the metallic pigments report
- What is the projected value of the metallic pigments in 2023?
- At what rate will the global metallic pigments grow until 2033?
- Which are the factors propelling the growth in the metallic pigments?
- Which region is expected to lead in the global metallic pigments during 2023 to 2033?
- Which are the factors driving the metallic pigments during the forecast period?
- What is the expected market value of the metallic pigments during the forecast period?
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