The global market for aluminum pigment is expected to register a CAGR of over 4% during the forecast period. The major factor driving the market studied is increasing demand for personal care and cosmetics products. On the flip side, stringent environmental regulations and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
-The paints and coatings industry is expected to dominate the market studied over the forecast period.
-The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Key Market Trends
Increasing Demand from Paints & Coatings Industry
- In paints and coatings, aluminum pigments are used in various applications for paints, such as roof coatings, marine coatings, anti-corrosion coatings, decorative coatings, industrial coatings, and protective coatings, among others.
- Aluminum pigments are used in paints and coating to enhance the colors. Additionally, it easily reacts with oxygen and water, which affects the metallic luster in the paints.
- Paints and coatings are extensively used in the architectural sector for both exterior and interior applications.
- Paints and coatings are applied on the exterior of the house to not only to give them a new look but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away, and cracking.
- The emerging economies, such as China, India, Indonesia, Vietnam, and the Philippines, in the The Asia-Pacific region has been witnessing a robust growth in construction activities.
- Along with this, favorable government measures are likely to boost the construction activities in many countries, which is further projected to boost the demand for paints and coatings in the coming years.
- In the European region, Germany is the largest market for paints and coatings with home to about 300 paints & coatings and printing inks manufacturers. The country has per capita consumption of 11 kgs of decorative paints, 7 kgs industrial coatings and 3 kgs of printing inks.
- Therefore, the demand for aluminum pigment is expected to grow from the paints and coatings industry during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to account for the largest market for aluminum pigment during the forecast period.
- In the Asia-Pacific region, China is expected to witness the highest growth in construction activities, followed by India. In China, government spending has been increasing in recent times in order to construct affordable housing facilities, to cater to the housing demand.
- In India, the infrastructure sector has become one of the major focus areas for the government. The government aims to boost the construction of buildings in the country, for which it has decided to come up with a single-window clearance facility, in order to provide speedy approvals of the construction projects.
- Hence, all such construction activities and favorable government measures are likely to boost the construction activities in the region, which is further projected to boost the demand for paints and coating in the coming years.
- The printing ink market in the region is dominated by the printed packaging segment, followed by newspapers and commercial printing, which includes promotional and printed advertising. The growing use of printing inks for books and stationery also captured a significant share in the market.
- China is among the fastest-growing printing ink markets globally, owing to the rapid expansion of the domestic print markets, and is the fastest-growing market for printing inks in the Asia-Pacific market.
- Growing demand from package printing, newsprint, publishing, and other commercial printing, has helped the printing ink market, in India, to register strong growth in the recent years, and also in the years to come.
- Hence, with the rapidly growing end-user industries in countries of the Asia-Pacific region, the demand for aluminum pigment is expected to increase over the forecast period.
The global aluminum pigment market is partially consolidated in nature. The major companies are ALTANA, Carl Schlenk AG, Silberline Manufacturing Co. Inc., DIC Corporation, and Asahi Kasei Corporation, among others.
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