Pearlescent Pigments Market to Undertake Strapping Growth During 2025
Pearlescent
pigments are composed of synthetic mica platelets or artificial glass
substrates and consecutive semitransparent layers of metal oxides.
This pigments deliver superior whiteness, with extraordinary optical
effects ranging from a fine-grained luster to bold silvery white
sparkle. Pearlescent pigments are generally employed in end-use
applications such as industrial coatings, cosmetics, plastics, and
printing ink applications
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In
terms of product type, the pearlescent pigments market can be divided
into natural pearl essence, titanium dioxide mica, iron/ferric oxide
mica, combination mica, and others. In 2016, the titanium dioxide
mica segment accounted for a significant share of the global
pearlescent pigments market. Increase in popularity of high luster
pigments with inherent sustainability and solubility is estimated to
drive the pearlescent pigments market during the forecast period.
Rise in demand for sports & luxury vehicles with bright chromatic
effects is likely to boost the demand for these pigments in the
automotive industry. This, in turn, is anticipated to augment the
demand for pearlescent pigments.
In
terms of application, the pearlescent pigments market can be
segmented into paints & coatings, plastics, printing inks, and
cosmetics. The paints & coatings segment held significant share
of the global pearlescent pigments market in 2016 due to the rising
application of pearlescent pigments in automotive paints and
industrial machinery. However, implementation of the VOC emission
regulations limit in Europe and the U.S. is likely to drive
technological changes and subsequent modifications in paints &
coating applications.
Based
on region, the global pearlescent pigments market can be segmented
into Asia Pacific, North America, Europe, Middle East & Africa,
and Latin America. North America was a major region for pearlescent
pigments in 2016. The market in the region is estimated to expand due
to the increasing number of end-use industries in the region. Growth
in demand for pearlescent pigments in the automotive sector is also
likely to drive the market in North America during the forecast
period.
The
U.S. and China are estimated to account for major share of the
pearlescent pigments market in North America and Asia Pacific,
respectively, due to the rising demand for paints and coatings in
these countries. The global market is anticipated to witness a shift
from developed countries to the developing economies of Asia due to
the expansion in the construction sector in the region. The
pearlescent pigments market in China and India is projected to expand
significantly owing to the advancements in end-use sectors,
technological developments, and wide expansion in application range
in these countries. This, in turn, is anticipated to propel the
demand for pearlescent pigments in Asia Pacific during the forecast
period.
Global
demand for pearlescent pigments is projected to rise significantly in
the near future, thus offering immense growth opportunities for the
market. The rapid rise in demand for these pigments in end-use
applications, its competitive manufacturing costs, and the high
economic growth rates are the key factors driving the pearlescent
pigments market in Asia Pacific and attracting companies to adopt
expansion and R&D strategies in the region. Market players are
focusing on Asia Pacific to gain substantial market share. Producers
of pearlescent pigments have been compelled to adopt expansion and
acquisition strategies to meet the global demand. Several producers
are shifting their plants to China and India due to the high demand
and low raw material & labor costs in these countries. Growth in
various end-use sectors in Asia Pacific is anticipated to boost the
need for pearlescent pigments during the forecast period.
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Key
players operating in the global market include Huaian Concord
Industrial Product Co. Ltd., BASF SE, Lansco Colors, L’Arca Srl,
Sun Chemical Performance Pigments, Fujian Kuncai Fine Chemicals Co.
Ltd, and Geotech International B.V.
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