Global light interference pigments market share is anticipated to witness a commendable upsurge over 2022-2028. This is a result of the increasing product application scope in end-use industries including automotive, as mixing systems for automotive paint contain both colored pigments as well as aluminum and interference pigments. Moreover, the remarkable surge in single-family construction will further drive the need for interference pigments for varied uses including color roofing.
Interference pigments refer to specialized pearlescent pigments that can yield distinctive optical effects. This type of pigment is made of mica that is coated with titanium dioxide, showing different colors when viewed straight and at other angles, particularly due to the thickness of the TiO coating.
Escalating cosmetics sales, especially during the COVID-19 pandemic, through the e-Commerce channels will foster the light interference pigments market trends over 2022-2028. According to L’Oréal India, 18% of consumers purchased beauty products for the first time through online channels during the initial months of the pandemic. Situations such as these could amplify industry outlook, provided the usage or addition of light interference pearl pigments in eyeshadows and lipsticks. Furthermore, the introduction of interference mica pigments, including Merck’s Pyrisma, for print, coatings, and plastics applications will also add impetus to the overall industry forecast in the years ahead.
Construction materials will emerge as a prominent end-user segment in the light interference pigments market by 2028, which can be credited to the availability of favorable residential construction policies in developing economies. The rise of home equity, sales, and homebuilding as well as the subsequent increase in remodeling activities will also serve as key factors bolstering the adoption of interference pigments for architectural coatings and other construction applications.
On the regional front, the North America light interference pigments market is likely to amass considerable gains by 2028. The regional market expansion is driven by the mounting consumption of cosmetic products in countries including the United States. As per SkinStore’s survey, nearly 161 million women in the country use beauty products each day, encouraging the business of light interference pigment manufacturers to grow exponentially in the coming years.
Moreover, in the last three quarters of 2020, DIY architectural paint sales witnessed a 30% hike, according to Coatings World’s data. This factor, alongside the rising per capita disposable income, will assert a positive impact on the sales of light interference powder and pigments across the region.
The competitive landscape of the global light interference pigments industry comprises companies such as Shenzhen Yu Mingjie Pigments Co., Ltd., Nihon Koken Kogyo Co., Ltd., Teikoku Printing Inks Mfg, Co., Ltd., TOYO ALUMINIUM K.K. (Nippon Light Metal Holdings Co., Ltd.), Sun Chemical, H. Costenoble GmbH & Co. KG, Merck KGaA, Viavi Solutions Inc., and BASF SE, among others. Strategic product launches and collaborations are some of the initiatives being undertaken by these industry players to reinforce their presence and expand their business in the competitive market.
In light of the coronavirus pandemic, various industrial sectors including the printing and packaging domain witnessed severe disruptions. The implementation of strict lockdowns dramatically impacted the supply chain arms of this industry and posed high challenges for businesses to serve customers. These factors may have caused a hindrance for the steady light interference pigments industry growth, as the printing inks sector is its significant end-user. Despite the COVID-19-induced setbacks during the initial phase of the pandemic, the increasing sales of decorative paints and coatings, mainly driven by the booming building and construction activities in the U.S. and other countries, may aid industry recovery in the near future.