The Speciality Metallic Pigments Market is expected to grow at a rapid pace. Significant growth in the textile industry, combined with increasing demand for flexible packaging materials, is one of the key factors driving the market’s positive outlook. People use speciality pigments to create attractive packaging with metallic and colour-shifting effects for high-end consumer products. Furthermore, rising environmental consciousness and widespread adoption of sustainable paints drive market growth. These pigments have low toxicity, high biodegradability, and improved temperature control, particularly in thermally effective pigments. They are also used in producing long-lasting and high-performance lustre paints and coatings for automobiles, contributing to market growth. Furthermore, technological advancements such as nanotechnology innovations and the development of 3D printing materials are acting as major growth-inducing factors. Other factors, such as rising consumer spending power and extensive research and development (R&D) activities to create environmentally friendly coatings and paints, are expected to drive the market further.
Furthermore, the rising demand for appealing packaging, combined with the continuous growth of the packaging sector, is expected to fuel the market growth during the review period. Furthermore, rising automotive production and sales have increased demand for decorative paints and coatings in the automotive industry, which is expected to propel the market growth during the review period.
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The Specialty Metallic Pigments Market is segmented by application and type.
According to the application:
- Paints and Coatings
- Printing Inks
According to the type:
- Stainless Steel
The Specialty Metallic Pigments Market is divided into the Middle East, Asia-Pacific, Latin America, Europe, North America, and Africa.
Asia-Pacific is expected to grow at the fastest CAGR during the review period, driven by rising demand from end-use industries such as packaging, automobiles, and construction. China has the largest market share due to rising demand for cosmetics, packaging, and household goods. Furthermore, relatively low labour costs, the ease with which raw materials can be obtained, and the implementation of new expansion strategies to meet the demand for Specialty Metallic Pigments in expanding applications are key factors driving the regional market growth.
North America is expected to grow significantly due to a strict regulatory framework and a high rate of technology adoption. The United States and Canada have been major contributors to the regional market growth and are expected to continue to do so during the forecast period. Due to growing end-use industries and rising consumer spending on personal care products, European countries have emerged as regional consumer markets. Furthermore, the Middle East and Africa are expected to grow moderately during the assessment period. Over the forecast period, rising construction spending in residential and commercial sectors is expected to positively influence the speciality metallic pigments market.
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Some of the prominent players operating in the Global Specialty Metallic Pigments Market are BASF SE (Germany), Sigma Technologies Int’l, LLC (U.S.), Silberline Manufacturing Co., Inc. (U.S.), Kolortek Co., Ltd (China), Carl Schlenk AG (Germany), AMETEK.Inc. (U.S.), Sun Chemical Corporation.(U.S.), Asahi Kasei Corporation (Japan), Toyal America, Inc. (U.S.), COPRABEL S.A. (Belgium), and others.
- Eckart introduced the STAPA HCP 4000 line, which complements its extensive range of silver-metallic STAPA HCP pigment pastes, in December 2021. The pigment developer recommends every STAPA HCP 4000 pigment for use in high-performance single-layer solvent-based coatings in automotive accessories, coil, and consumer electronics industries.
- PPG ENVIROCRON PCS P4 powder coatings for home décor, furniture, and architectural applications will be available in November 2021. The new powder coatings line meets the growing demand for premium-textured and matte finishes in various applications ranging from steel and aluminium substrates for construction to office and urban furniture.
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