Synopsis of Specialty Metallic Pigments Market:
Specialty Metallic Pigments are metal flakes of various sizes, made up of copper, aluminum, zinc, and their alloys. Copper, zinc, aluminum alloys produce the copper, brass, gold, and bronze colors. Metallic effect is modified by shape, size and as well as particle size distribution. They offer as a color additives and is widely utilized in numerous applications such as printing inks, cosmetics & personal care, plastics, paints & coatings, and others. Others application includes: rubber, electronics, and glass.
As per our analysis, some of the prominent market factors and trends identified in the Global Specialty Metallic Pigments Market include: rising demand for specialty metallic pigments for coatings in automotive and general industry and increasing use in architectural paints on account of growing construction activities. Additionally, the architectural paints & coatings market has boosted the growth of the market owing to rising infrastructural development and construction activities in emerging economies. Specialty Metallic Pigments are widely utilized for printing and for granting aesthetic elements to the packaging material. Furthermore, rising demand for attractive packaging coupled with the continuous growth of packaging sector is expected to fuel the growth of the market during the review period. Additionally, rising automotive production and sales has boosted the demand for decorative paints & coatings in automotive industry, which in turn, is predicted to propel the growth of market during the review period. However, rising environmental concerns and increasing regulatory intervention by government bodies regarding the volatile organic compound (VOC) emission rate are likely to hinder market growth during the assessment period.
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Geographically, the Specialty Metallic Pigments Market is segmented into five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the fastest CAGR during the review period, driven by increasing demand from end use industries such as automobiles, packaging, and construction. The demand for Specialty Metallic Pigments is expected to surge in developing countries such as China, India, Thailand and Malaysia due to development of paints & coatings, printing inks, and plastic industries. China hold the largest market share owing to increasing demand in cosmetics, packaging, and household goods. Moreover, ease in obtainability of raw material, presence of relatively cheap labor cost, and implementation of new expansion strategies to achieve the demand for Specialty Metallic Pigments in the increasing applications are the prominent factors for the regional market growth.
Asia Pacific has emerged as the largest market for Specialty Metallic Pigments followed by North America and Europe. North America is expected to witness a significant growth owing to strict regulatory framework along with high technology adoption rate. North American countries such as U.S. and Canada are among the major contributors in the regional market growth and are expected to witness regional market growth during the review period. European countries such as Russia, Spain, Germany, and UK have emerged as the regional consumer market due to growing end use industries and increasing consumer spending on personal care products. Additionally, the Middle East and Africa is predicted to witness a moderate growth during the assessment period, rising construction spending in commercial as well as residential sector, especially in Turkey, Qatar, Kuwait, and the United Arab Emirates (UAE) is estimated to positively influence specialty metallic pigments business over the forecast period.
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