Top trends augmenting global metallic pigments market share
Selbyville, Delaware, United States, October 13 2020 (Wiredrelease) Global Market Insights, Inc –:Worldwide metallic pigments market size is projected to hit USD 2.3 billion in annual sales by 2024. Mentioned below are some of the integral factors expected to support developments in metallic pigments market share through 2024.
Increasing demand for paints and coatings will foster metallic pigments market share over the forecast timeframe. With prominent availability of high product variety, the demand for copper metallic pigments and aluminum has relatively increased. Consumption of printing inks has increased on account of the massive growth of commercial printing, corrugated cardboard industry, packaging and publication sectors.
Consistent demand from cosmetic applications is driving the metallic pigments market size:
Aluminum metallic pigments have gained considerable recognition over the years primarily due to their use in the cosmetics industry. The segment valued close to USD 80 million during the year 2017. These substances showcase extreme performance, superior coverage and offer high reflection.
The improvement in disposable income among people over the years has amplified the sale of cosmetics across the globe. The vast cosmetics industry uses aluminum powders that are coated with metal oxides with an aim to achieve different color shades like green, blue, orange, gold and silver. When combined with organic and pearlescent powders, the manufacturers obtain various different colors and effects.
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Increased adoption of nanotechnology in the paints & coatings impact metallic pigments market size:
There has been a steady rise in the use and adoption of nanotechnology within the paints and coating sector to be able to generate special effects in pigments which in turn will encourage the total growth of the industry. The technology consists of mica particles that own layers of several organic as well as inorganic metallic color pigments.
These nanomaterials can potentially improve the features of all the existing paint and coating products with regard to the excellent qualities like improved functionality, high efficiency and enhanced size, shape & larger surface area.
The booming cosmetic sector propels global metallic pigments market trends:
The cosmetic industry uses aluminum powders extensively which is essentially used for high-chrome aluminum pastes and metal oxides to be able to secure numerous shades of colors like blue, silver, green, orange and gold. Moreover, such products can be combined with the pearlescent and organic that usually helps the manufacturers for the production of numerous effects or colors, fueling the demand of the product.
Aluminium-derived metallic pigments industry share from cosmetic applications had accounted for nearly USD 80 million in the year 2017. The product provides wide coverage, high reflection and exhibits excellent performance.
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