LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global aluminum pigment market is expected to reach USD 486.5 million by 2021, growing at a CAGR of more than 6%.
This research report titled ‘Global Aluminum Pigment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated through sales of aluminum pigment products for applications such as paint and coating, plastic, printing inks, personal care, and others.
The global aluminum pigment market is expected to grow at a steady rate owing to the increasing demand coming from various applications such as paints and coatings, printing inks, and plastics for various end-user industry such as industrial and automotive. In the automotive industry, aluminum is used to reduce the vehicle weight. Therefore, aluminum products are used in the assembling of vehicle body parts. This increases the consumption of aluminum pigments in the automotive industry.
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Technavio’s chemicals and materials analysts categorize the global aluminum pigment market into five segments by the application. They are:
- Paints and coatings
- Printing inks
- Personal care products
The top three application segments for the global aluminum pigment market are:
Global aluminum pigment market for paints and coatings
The global aluminum pigment market for paints and coatings was valued at USD 152.7 million in 2016 and will reach a value of USD 213.3 million by 2021, growing at a CAGR of 6.91%.
The paints and coatings segment was the largest application segment for aluminum pigment in 2016. Aluminum pigments are used to provide a metallic effect along with technical functions such as reflection, corrosion protection, and conductivity. Aluminum pigments are used in numerous end-use industries such as industrial coatings, automotive coatings, metal effect coatings, and decorative coatings.
According to Mahitha Mallishetty, a lead paints, coatings, and pigments research analyst from Technavio, “Aluminum powder is used in the manufacture of silver metallic pigments that enhance the visual appeal of coatings and paints. Aluminum pigment contains 70% of aluminum powder; rest is additive and compounding elements.”
Global aluminum pigment market for plastics
The global aluminum pigment market for plastics was valued at USD 80.3 million in 2016 and will reach a value of USD 110.1 million by 2021, growing at a CAGR of 6.52%.
Aluminum pigments that are used in plastics have three different geometrical shapes: flat cornflakes, which represent shapes like breakfast cornflakes; lenticular flakes, which are like flat ellipses; and spherical pigment, which are tiny spheres of aluminum with a bright surface.
“Aluminum pigment is used in many types of polymers to provide functional value and aesthetics. In general, various aluminum pigment grades offer functional attributes and visual appearance to the plastic products. Aluminum pigments also provide great functional performances to the plastics and impart additional value to the products,” says Mahitha.
Global aluminum pigment market for printing inks
The global aluminum pigment market for printing inks was valued at USD 61.9 million in 2016 and will reach a value of USD 82.9 million by 2021, growing at a CAGR of 6.02%.
Metallic pigments such as aluminum pigments are consumed in printing processes to provide high-quality silver or gold metallic effects. These metallic effects increase the outer look of printed objects and add value to the existing products. Aluminum pigments are used in printing ink applications to offer superior eye-catching designs on packaging, labels, and many other products of printed material.
Aluminum pigments are also widely used in eco-friendly water-based or ultraviolet-curable systems. Cornflake, silver dollar, or vacuum metallized pigments of various particle sizes give an exceptional range of visual effects to the products. By using print processes such as flexo, offset, and screen and gravure printing a wide range of materials can be printed such as cartons, cardboards, papers, tissues, plastic films, metals, textiles, and leather.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Carlfors Bruk
- Carl Schlenk
- ECKART Effect Pigments
Browse Related Reports:
- Global Aluminum Powders Pastes and Flakes Market 2016-2020
- Global High Purity Alumina Market 2016-2020
- Global Metallic Pigments Market 2017-2021
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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