According to the latest report published by Credence Research, Inc. “Global Aluminum Pigment Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global aluminum pigment market accounted for US$ 418.9 Mn in 2017, expanding at a CAGR of 6.2% from 2018 to 2026.
The global Aluminum pigment accounted for US$ 418.9 Mn in 2017 growing with a CAGR of 6.2% during the forecast period from 2018 to 2026. Aluminum pigments are basically produced with the help of wet milling process that mainly involves mineral spirits or other types of solvents. These pigments are insoluble and appear to have color owing to the fact they absorb wavelength of light more readily than other wavelengths. Depending on surface polish, pigments can appear exceptionally bright or low sheen. These reflective and absorption properties of aluminum pigment contribute to various types of appearance of coatings and paints that finds application in automotive industry. Various applications of aluminum pigment include plastics, paints and coatings, personal care and printing inks among others. The aluminum pigment market is mainly dominated by medium and large players. Hence, the threat of new entrant is considerably low as there is little scope for new players to enter the market.
Rise in demand from coatings, paints and automotive industry is mainly driving the global market. Trend shows that with the increase in demand for color choices of different vehicles, the demand for aluminum pigment is also expected to rise during the forecast period from 2018 to 2026.Increase in residential and non-residential projects worldwide is expected to bolster the demand for construction industry. Aluminum pigment also finds application in construction materials, and hence with the increasing demand from construction industry, the demand for it is expected to grow in the near future. These are also used in the cosmetics and aims to reduce the bleeding effects in various cosmetic products that includes lipsticks. Increasing demand from cosmetic products is expected to trigger the personal care industry which in turn is expected to augment the demand for global aluminum pigments market. In addition, with the growing awareness among consumers related to the various coatings products with low carbon footprint, the demand for aluminum pigment is set to rise during the forecast period.
The global aluminum pigment market has been segmented by grade, source, application and geography. In 2017, non-leafing segment dominated the global aluminum pigment market by grade both in terms of value and volume. Corrosion resistant property of non-leafing grade followed by increasing application in automobile paints is expected to boost the market demand. By source, in 2017, aluminum powder held a major share of the global aluminum pigment market owing to its increasing application in welding, construction and automotive industry. In terms of application, paints and coatings segment dominated the global aluminum pigment market. By geography, in 2017, Asia Pacific was the leading market and held the largest market value and volume share in the global aluminum pigment market. China is the largest market for aluminum pigment in Asia Pacific region and owing to the increasing application of aluminum pigment in various passenger cars, the demand for it is expected to rise. Growing construction industry is another factor augmenting the market demand for aluminum pigment in this region.
Browse the full report Global Aluminum Pigment Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/aluminum-pigment-market
Key players operating in the global aluminum pigment market includes Asahi Kasei Chemicals Corporation, Carl Schlenk, Silberline, Hefei Sunrise Aluminium Pigments Co., Ltd., Carlfors Bruk, Metaflake Ltd., Toyal America, Inc., ECKART Effect Pigments, BASF S.E and Sun Chemical Group among others.