The global pearlescent pigment market is expected to grow at a CAGR close to 5% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global pearlescent pigment market 2018-2022 under their chemicals and materials library. (Graphic: Business Wire)
Global pearlescent pigment market segmentation by application and geography
Technavio’s report on the global pearlescent pigment market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including paints and coatings, printing inks, plastics, and construction materials. As projected in 2017, around 34% of the market share originated from paints and coatings. Due to the excellent physical and chemical properties of pearlescent pigments, it is widely used in paints and coatings.
Based on geography, the global pearlescent pigment market has been segmented into North America, Europe, APAC, and ROW. As of 2017, 38% of the market share came from North America. The increasing consumer demand for good quality finish coatings is one of the major factors leading to the growth of the market in North America.
“The demand for pearlescent pigments is set to increase due to the rapid expansion of end-user application sectors such as automobiles and construction industries. To counter the raw material unavailability and the volatile price of specialty pigments, established and successful players in the region invest in product innovations. The players in the market are finding new applications for pearlescent pigments to drive growth in the market,” says a senior analyst at Technavio for paints, coatings, and pigments research.
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Pearlescent pigment market: competitive vendor landscape
The global pearlescent pigment market is fragmented with local and global vendors. Key players in the market include ALTANA, BASF, CHESIR, Merck, Sudarshan Chemical Industries, and Sun Chemicals. The market also consists of players that are either pure-play firms or category-focused with a good production capacity of special-effect pigments and pearlescent pigments. Factors such as the presence of strong established market players, the high cost of raw materials, and regulations by the FDA and REACH have lowered the rate of new entrants in the pearlescent pigments market.
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Other topics covered in the report:
Market drivers:
- Excellent functional properties
- Growing demand for paints and coatings in automotive and construction
Market trends:
- FDA approval for use in cosmetics and personal care products
- Increased R&D investments and product innovations
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