The global aluminum market is characterized by large
and mid-sized companies. The top six companies, viz Sun Chemical
Corporation, Zhangqiu Metallic Pigment Co. Ltd., Carlfors Bruk AB,
Silberline Manufacturing Co. Inc., Carl Schenk AG, and Altana AG hold
around 48% of the market. Altana AG, in 2015 emerged as the leading
player in the market, with a production of different types of
aluminum pigments. It is expected that the threat of new entrants
will be low as the existing players have established a strong sense
of trust among the consumer base. The entry barriers for new players
include high cost of machinery installation, high cost of raw
materials, and lack of expertise in assessment of technology and
equipment, states a new report published by Transparency Market
Research (TMR).
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According to the TMR report, the global opportunity
in the aluminum pigments market is estimated to rise to US$581 mn by
2024 after being worth US$332 mn in 2015. The market is predicted to
expand at a 6.4% CAGR between 2017 and 2024. By end user, the market
is currently led by the paints and coatings industry, which generated
a revenue of about US$21 mn in 2015. The high demand for paints and
coatings in the automotive sector is boosting the sales of aluminum
pigments. The growth of the automotive sector in Brazil, China, and
India is another factor boosting the growth of the market.
Asia Pacific to Provide Lucrative Opportunities
for Growth
On the basis of geography, the Indian and Chinese
aluminum pigments markets in Asia Pacific especially are expected to
provide lucrative opportunities for growth in the coming years. The
high demand for aluminum pigments in this region owing to a rapid
development of industries will drive the market. Another factor
boosting the growth of the market in the region is the continuous
growth of disposable income, enabling players to opt for better
quality products. Automobile sector in the region is also
responsible for the high growth of the market.
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Paint and Coatings Industry to Remain Key Factor
for High Demand of Aluminum Pigments
The paint and coatings industry is one of the key
factors driving the growth of the aluminum pigments market. Aluminum
pigments help enhance the opacity of printing inks on difficult
surfaces. These pigments improve the visual appeal and also enhance
the legibility of the print. Another factor boosting the growth of
the aluminum pigments market is the booming automotive industry. As
customers have an increasing preference over car colors, the demand
for aluminum pigments is expected to soar. Growth in disposable
income is another important reason behind the growth of the market,
as this allows customers to opt for high quality automobile paints
and coatings, which make use of aluminum pigments. The personal care
industry uses aluminum pigments in products such as hair gels, lip
gloss, body wash, shampoos, eye shadows, and nail polishes. These
pigments are also used in various ink types such as screen, gravure,
and flexographic inks.
On the other hand, growing carbon footprint has
become a major issue for industries and this is causing a concern in
some countries. Thus, regulatory pressure is being applied on
manufacturers of pigments and chemicals, causing harm to the
environment. As a result, manufacturers are shifting to eco-friendly
products and methods.
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The information presented in this review is based on
a Transparency Market Research report, titled, “Aluminum Pigments
Market (End-user - Paints & Coatings, Plastics, Personal Care,
Printing Inks) - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024”
Key Segments of the Global Aluminum Pigments
Market are:
Aluminum Pigments Market – End-user Analysis
- Paints & Coatings
- Plastics
- Personal Care
- Printing Inks
- Others (Including Construction Materials, etc.)
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