Light Interference Pigments Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3904
Light Interference Pigments Market size depicts a rising trend in its growth path from 2019 to 2025 due to growing demand from electronics industry. Light interference pigments have high optical features which convert light into a diverse range of colors. Light interference pigments are gaining momentum due to its changing interplays of shades depending upon the materials used in its layered structure. Refraction & reflection of light within the layers results in color variations. The background is of key importance as most of these products are transparent in nature. This product is widely used in consumer electronics like mobile phones, refrigerators, and other household appliances. Changing taste & preferences of consumers will strongly impact the light interference pigments market demand in the coming years. For instance, earlier consumers mostly preferred black or silver shade for mobile phones, but now this trend has been changing as they are going for more vibrant colors like red, blue, golden, etc.
Increasing use of cosmetics would be another growth driver in the light interference pigments market owing to its aesthetic nature. It offers a translucent shimmer which results in a natural looking skin. It is also used in nail polish products as it offers a variety of color combinations and shine. The global cosmetic market grew at an annual rate of about 4% out of which skincare was the leading segment. Asian region was the leader in the cosmetics market occupying a share of more than 40%.Growing population coupled with improving income of consumers in this region will further boost skincare products demand which will in turn increase the use of light interference pigments in them owing to its high quality, durability and variety in shades.
The light interference pigments market has been segregated based on production process, application, and region. The market is segmented into two main production process which are wet chemical and high vacuum process. The wet chemical production process is likely to gain a significant market share in the coming years. Certain substances having high indices of refraction, like iron oxide or titanium oxide, could be deposited on transparent substrates. Such products are manufactured by the wet chemical process. While those products having aluminum as internal reflector are manufactured using high vacuum process.
Based on application, the light interference pigments market is categorized into paints & coatings, printing inks, plastics, construction materials and others. Paint & coatings segment is likely to gain a significant share in the market owing to rising demand from automotive sector. Increasing customer preference towards unique colors and shades for their vehicle would boost the demand for light interference pigments in the coming years. Construction material would be another important application segment in the market which would grow at a significant rate due to its rising applications in color roofing, safety passages, architectural finishes, etc.
Asia Pacific is likely to propel at a significant CAGR in the light interference pigments market. This growth is majorly caused by rising developments in the various end-user industries. Rising urbanization, growing population and government regulations promoting smart city development are certain factors which would drive the construction industry. This would in turn increase the demand for the product which is used in various architectural applications. Use of plastics have also highly increased in this region due to its cost-effective, lightweight and versatile nature. Increasing plastic manufacturers and use of plastics in vehicle manufacturing is another growth enabler in this region. Moreover, rising disposable income of the consumers in the developing nations like China, India and Indonesia would likely escalate the demand in the automotive industry. This would in turn increase the demand in the light interference pigments market.
Some of the key market players are BASF SE, Viavi Solutions Inc., Merck KGaA, etc.
Light Interference Pigments Market, By Manufacturing process, 2014-2025 (USD Million)
- Wet chemical process
- High Vacuum process
Light Interference Pigments Market, By End-User, 2014-2025 (USD Million)
- Paints & coatings
- Printing inks
- Construction materials
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- BASF SE
- Viavi Solutions Inc.
- Merck KGaA
- H. Costenoble GmbH & Co. KG
- Sun Chemicals
- TOYO ALUMINIUM K.K.
- Teikoku Printing Inks Mfg, Co., Ltd.
- Nihon Koken Kogyo Co., Ltd.
- Shenzhen Yu Mingjie Pigment (Hong Kong) Technology Co., Ltd.
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