Metallic Pigments Market size was over USD 1.5 billion in 2017 and industry expects consumption above 185 kilo tons by 2024.
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Rising number of infrastructure projects and booming automotive sector has majorly impacted the paints & coatings industry which may accelerate metallic pigments market growth. Rising industrialization, changing lifestyle patterns and population growth may contribute to rapid construction activities in emerging countries such as China, India, Vietnam, Bangladesh and Indonesia. These products improve the aesthetic appeal substrates thereby providing glossy finish along with increasing opacity, corrosion resistance and ductility. The construction industry in Southeast Asia was valued at over USD 250 billion in 2018 which indicates tremendous market growth potential.
Rising demand for packaging applications primarily in food & beverages, gift wraps and tobacco industry may stimulate metallic pigments market demand. The availability of advanced color shades, enhanced appearance of packaged items and increased product differentiation may have a positive impact on the suitability of metallic pigments for packaging applications. Global printing inks market size may exceed USD 20 billion by 2024 which is expected to provide ample opportunities in the market. These products are witnessing high demand from the printing ink industry owing to their suitability with wide range of surfaces such as plastic, paper & cardboard and gloss improvement.
|Metallic Pigments Market Size in 2017:
|1.5 Billion (USD)
|2018 to 2024
|Forecast Period 2018 to 2024 CAGR:
|2024 Value Projection:
|2.4 Billion (USD)
|Historical Data for:
|2013 to 2017
|No. of Pages:
|Tables, Charts & Figures:
|Product and Region
|Pitfalls & Challenges:
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Rising demand for aluminum products from the coloring additive and automotive industry may boost metallic pigments market growth. Aluminum pigments impart a silvery, metallic appearance, thereby improving the sheen and radiant effects of substrates which increases their suitability for such applications.
Raw material price instability and surging costs of precious metals may hamper metallic pigments market growth. Also, stringent government regulations related to volatile organic compounds & particulate matter emissions and may act as a growth restraint. For instance, EU REACH regulations related to chemical production and their health & environmental impacts, and China’s VoC regulations which deal with operations in the printing, paints & coating, packaging and chemical industries may have a negative impact on the market growth.