Aluminum Pigments Market Growth 2022-2030
The aluminum pigments market is predicted to touch USD 618 million at a 6% CAGR between 2019-2025, reveals the latest Market Research Future (MRFR) report. Aluminum pigments are produced from aluminum powder that is atomized and manufactured through the wet-milling process. It is used in various applications, including printing inks, plastics, and coatings. Aluminum pigments are available in both non-leafing and leafing grades.
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Various factors are propelling the aluminum pigments market growth. These factors, as per the new Market Research Future (MRFR) report, include increase in disposable income, growing demand for aesthetically superior cars with lustrous paint, growing demand for automobile pigments from paints and coatings and automobile industry, increase in construction business, and growth of several end use industries including cosmetics, plastics, printing inks, and paints coatings.
On the flip side, availability of substitutes, strict regulations on mining activities, growing demand for natural paints coatings, and increasing awareness among consumers for environment safety are factors that may deter aluminum pigments market growth over the forecast period.
Market Segmentation
Based on type, the aluminum pigments market is segmented into non-leafing and leafing. Of these, the non-leafing segment will have the largest share in the market over the forecast period. This is chiefly on account of its long-lasting effects. It exhibits better abrasion and corrosion resistance and also finds extensive applications for metallic paints.
Based on form, the aluminum pigments market is segmented into flakes, powder, pellet, and paste. Of these, the powder segment will dominate the market over the forecast period chiefly on account of its growing application in automotive, construction, and welding industry.
Based on end use industry, the aluminum pigments market is segmented into cosmetics, plastics, printing inks, paints and coatings, and others. Of these, the paints and coatings segment will lead the market over the forecast period. This is chiefly on account of the burgeoning demand for paints and coatings in the shipbuilding, aerospace, construction, and automotive industries for various applications, including industrial coatings, decorative coatings, anti-corrosion coatings, protective coatings, marine coatings, and roof coatings.
Regional Analysis
By region, the aluminum pigments market growth report covers the latest trends and growth opportunities across North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. Of these, the APAC region will remain the driving force in the market over the forecast period. Factors aiding growth in the region include growth of key end use industries, especially cosmetics, plastics, and paints and coatings, extensive use of paints and coatings in complimentary end use industries including automotive, shipbuilding, and building and construction, growing consciousness about appearance, affordability, and changing lifestyle trend.
The aluminum pigments market in Europe is predicted to have healthy growth during the forecast period. Factors propelling growth in the region include growing demand for paints and coatings in producing automobile components, high standards of living, and use of plastic products in various key end use industries as they provide lower cost, better biocompatibility, and lighter weight.
The aluminum pigments market in North America is predicted to have significant growth over the forecast period owing to the presence of a huge industrial base in Canada and the US.
Key Players
Major players profiled in the aluminum pigments market report include Metaflake Ltd (UK), Toyal America, Inc. (US), Asahi Kasei Chemicals Corporation (Japan), HEFEI SUNRISE ALUMINIUM PIGMENTS CO., LTD. (China), GEOTECH (the Netherlands), AMETEK.Inc. (US), Silberline Manufacturing Co., Inc. (US), Carl Schlenk AG (Germany), Kolortek Co., Ltd (China), and BASF SE (Germany). Key players have incorporated several strategies to cater to the needs of the customers and create a foothold in the market, such as partnerships/joint ventures, product launches and innovations, mergers and acquisitions, collaborations, research and development activities, and more.
Industry News
October 2019: NASA space center has become the foremost customer for aluminum 3D-printing powder. This feedstock powder can be utilized with off-the-shelf, standard additive manufacturing devoid of any modifications.
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