Industry Outlook

Aluminum pigment market is expected to reach US$ 735.7 Mn by 2026 with 6.2% CAGR during the forecast period from 2018 to 2026. In 2017, Asia Pacific led the aluminum pigment market and North America is estimated to be the fastest growing region between 2018 and 2026.

Aluminum pigment is basically a pearlescent pigment that is based on aluminum oxide. Pigments are mainly compounds that impart various colors to substrates. It also imparts silver color with metallic effects. Additionally, pigments also impart glossy, lustrous and shiny effects. These aims to improve opacity, chemical and weather resistance, fastness and durability of plastics, printing inks and paints and coatings. These are produced from aluminum paste, powder and flakes and are produced through wet-milling process. Aluminum pigment also changes the color of reflected light due to selective wavelength absorption. The sparkle effect of it is basically determined by quantity of pigment added. They are used in variety of applications that includes paints and coatings, cosmetics and plastics among others.

Growing demand from personal care industry owing to the rising demand for cosmetic products is one of the important factor that is expected to drive the global aluminum pigment market. Aluminum pigment impart metallic luster and color to various cosmetic products that includes nail polishes and lipsticks among others. It is also used as substrate on which different colors can be precipitated. These pigments also aim to reduce the bleeding effects in lipsticks and also inhibits the flow of sweat. Hence, with the increase in demand for cosmetic products, the global market for aluminum pigment is expected to grow at a steady rate during the forecast period from 2018 to 2026.Aluminum pigments also         finds application in printing decorative and eye catching labels in the food and beverages industry. Hence growing demand from food and beverages industry is also expected to propel the market demand for aluminum pigment. The increase in construction business owing to the increase in residential and non-residential infrastructure projects is also expected to bolster the market growth. Increasing demand from automobile and paints and coatings are other primary factors expected to drive the market growth during the forecast period from 2018 to 2026.

However, aluminum pigment applications in solvent medium leads to serious impact on environment. The reason being solvent borne aluminum coatings emit volatile organic compounds which gets converted to carbondioxide with the help of oxidizing sunlight effect. Volatile organic compounds also react with air pollutants to produce ozone. Both ozone and carbondioxide are air pollutants. In addition, prolonged exposure to the photochemical reactions of volatile organic compounds leads to toxicity in human health and also causes health problems. Rising awareness among consumers for environment safety followed by increasing demand of natural paints and coatings are expected to hamper the market growth of aluminum pigment during the forecast period from 2018 to 2026.

"Non-leafing Segment Propelling the Growth of Aluminum Pigment Market"

Non-leafing grades are resistant to corrosion and abrasion and also aims to impart long lasting effect on coated surface. Owing to these properties, it mainly finds increasing application in the automobile paints. Hence with the growing automobile industry worldwide, the demand for non-leafing segment is expected to rise during the forecast period from 2018 to 2026.Increasing application in food packaging is also expected to boost the demand for this segment. Silberline Manufacturing Co. Inc., based in the U.S, deals with various non leafing industrial coatings that includes standard non-leafing, sparkle silver and silbercote. Standard non leafing finds application where typical metallic appearance is important. The metallic appearance produced by these grades range from muted to standard silver appearance. Sparkle silver pigments aims to enhance the metallic silver color and sparkle. Silbercote aluminum pigments are applied to architectural extrusions, component housings and certain coil coating applications. Leafing grades is also expected to grow at a rapid pace owing to its wide application in cosmetic and printing inks that basically offer lustrous effect on surface thereby increasing the brightness.

"Aluminum Powder Driving the Growth of Aluminum Pigment Market"

Aluminum powder is expected to show stable growth during the forecast period owing to its various chemical properties and increasing applications in industrial coatings, automotive, sparkles, glitters and paints among others. This powder is odorless, highly flammable and light in weight. These are mainly used in industrial applications followed by automotive and chemical. Aluminum powder plays an important role in enhancing the efficiency of solar cells thereby improving the conduction properties in cells. In addition, owing to its low cost and high melting points these are also used in welding applications. Aluminum powder also finds application in the manufacture of silver metallic pigments that enhances the visual appearance of paints, plastic, textiles and coatings among others. In the construction industry, aluminum powder mainly finds application in reflective roof coating, lightweight concrete and paints among others. Hence, with the growing construction industry worldwide, the demand for aluminum powder is expected to rise which in turn is driving the global aluminum pigment market during the forecast period from 2018 to 2026.

"Paints and Coatings is the Largest Segment by Application in the Global Aluminum Pigment Market"

Aluminum pigment aims to offer metallic effect as well as various technical functions that includes reflection, conductivity and corrosion protection. Growing application of aluminum pigment in automotive paints and coating that aims to enhance aesthetic properties is mainly bolstering the market growth. In automobile industry, aluminum pigments are mainly used in interior coatings, OEM coatings, wheel coatings, automotive accessories and refinishes among others. With the rising consumer preference for high performance aluminum pigment with various attractive esthetic features, the demand for it is expected to rise which in turn is propelling the growth of this segment in the next seven to eight years. In addition, owing to the selective absorption property of aluminum pigment, it plays an important role in enhancing the appearance of paints in automotive and construction sectors thereby driving the market growth.  Trend shows that key manufacturers are focusing on product expansion of aluminum paints and coatings segment to meet the growing demand from automotive industry. For example, in June 2018,BASF extended its production capacity for Paliocrom® effect pigments ,under its global brand Colors & Effects. This extension will facilitate the company to meet the growing demand for aluminum based pigments in automotive coatings. The company invested €15 million for the production capacity in Germany and expects that by 2020, the production will increase by more than 30%.

"Asia Pacific is the Largest Region in the Global Aluminum Pigment Market"

Globally, Asia Pacific accounted for the largest value and volume share of aluminum pigment market. The growth is mainly attributed to the growing automobile and construction industry. In 2017, China is the leading country owing to the increasing application of aluminum pigment in passenger cars. Hence, with the increasing demand from passenger vehicles, the demand for aluminum pigment is expected to rise in this country. North America is expected to the fastest growing segment in the global aluminum pigment market owing to the increasing application of aluminum pigment in cosmetics products coupled with growing decorative and automotive coatings. Latin America Market is also expected to grow owing to the healthy growth of the construction industry which in turn is expected to augment the market demand for paints and coatings.

"New Product Development is one of the Key Strategies Adopted by the Manufacturers"

Key players operating in the global aluminum pigment market includes Asahi Kasei Chemicals Corporation, Carl Schlenk, Silberline, Hefei Sunrise Aluminum Pigments Co., Ltd., Carlfors Bruk, Metaflake Ltd., Toyal America, Inc., ECKART Effect Pigments, BASF S.E and Sun Chemical Group among others. In April 2016, Sun Chemical, based in the U.S, launched Benda-Lutz® COMPAL WS, an innovative range of highly concentrated and VOC free aluminum pigment for inks and coatings applications. This new product aims to provide maximum formulation flexibility and mainly finds application in solvent or water based systems. The product also aims to meet the tight environmental regulations on volatile organic compounds and also provides various advantages in terms of storage, shipping, dosing and handling.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aluminum Pigment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Aluminum Pigment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Aluminum Pigment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Aluminum Pigment market?
• Which is the largest regional market for Aluminum Pigment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Aluminum Pigment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Aluminum Pigment market worldwide?