There has been a substantial increase in the demand for high-performance metallic pigments that come with eco-friendly attributes. They find applications in different industries, including cosmetics, printing, coatings, and building materials. The global metallic pigments market is projected to advance at a CAGR of 4% and reach a value of US$ 4.5 billion by the end of 2033.
Rising consumer demand for attractive packaging and specialty products has made metallic pigments a suitable option for printing eye-catching graphics and decorative labels. Printing ink manufacturers are incorporating metallic pigments into multiple formulations to provide durable, fashionable, and long-lasting special effects to the end products. Industrial coatings and automotive paints are the key consumer sectors of metallic pigments due to their economic rates compared to other options.
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.
A high level of protection of the environment and human health from the use of chemicals is ensured by the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) and the Swiss Chemical Ordinance (ChemO). European governments and respective governing bodies have also implemented regulations to reduce the use of VOC (volatile organic compound), which can adversely impact the 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.
Technological advancements and recent innovations have resulted in the development of pigments that are based on silver dollar aluminum flakes. These developments offer extreme saturation, unique sparking behavior, and enhanced brilliance. They have given rise to numerous other solutions, including energy-curable pigments, which help to conserve energy in the building & construction industry.
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.
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.
· 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.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the metallic pigments market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product (copper, aluminum, bronze, stainless steel, others) and end use (paints & coatings, printing inks, cosmetics & personal care, plastics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
These insights are based on a report on Metallic Pigments Market by Fact.MR.