| Increasing demand for aerospace coatings
drive the global metallic pigments market
The metallic pigments market is witnessing a high degree of competition as it is characterized by the presence of several multinational and domestic companies. These companies are integrated along the value chain from the processing of metal granulate to the final pigment manufacturing. Amidst the intense competition prevailing in the market, Transparency Market Research (TMR) forecasts Silberline Manufacturing Co., Asahi Kasei Corporation, BASF AG, Carl Schlenk AG, and ALTANA AG to emerge as the leading players.
TMR has forecast the global metallic pigments market to exhibit a CAGR of 6.4% between 2015 and 2023. The market stood at a valuation of US$736.2 Mn and is projected to be worth US$1.2 bn by the end of 2023. Among the various end users, the paints and coatings industry is expected to showcase the maximum contribution to the market’s revenue. Regionally, Asia Pacific held the dominant share of 30% in the global metallic pigment market in 2015.
Industrial Coatings to Boost Growth
The global metallic pigments market is driven by the increasing demand for:
- Industrial coatings
- Marine coatings
- Aerospace coatings
As the consumption of metallic pigments increase in the printing inks and plastic component manufacturing, it will subsequently create lucrative prospects for the market. By the end of 2023, the market is therefore projected to exhibit robust growth.
A majority of the demand witnessed in the global metallic pigment market will be witnessed in the emerging nations. The increasing production base, expansion of the printing inks and plastics industry, and supportive government regulations will act in favor of the market enabling it report positive CAGR through the course of the forecast period. Among the various nations, demonstrating opportunities for companies operating in the metallic pigments market, those witnessed in India, China, and Southeast will be considerably lucrative.
Industrialization - A Chief Driver of the Market
Besides Asia Pacific, Europe also prove to be a profitable ground for the global metallic pigments market. The market witnessed a relatively faster rate of growth in Europe due to stringent regulations implemented by the European Union to curb VOC and particulate emissions. In North America the market however continued exhibiting stable growth on account of the advanced technologies and established markets favoring the market’s trajectory. In addition, the increasing opportunities in Latin America will also provide impetus to the market. Other developing nations such as Brazil also hold strong potential for the market’s growth. It is thus evident that industrialization and urbanization witnessed across emerging nations have been a chief driver of the global metallic pigments market.
Stringent Emission Control to Pose Threat
On the downside, the growth witnessed in the Middle East and Africa was sluggish and is expected to remain so through the course of the forecast period. This could be a significant concern for enterprises operating in this part of the global metallic pigments market. Nevertheless, metallic pigments are applied on the external surface of finished products to increase its appeal, ductility, and opacity. These features could help the market keeping witnessing significant growth through the course of the forecast period.
About Transparency Market Research
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Its exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Its business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.