The increasing use across various industries, such as automotive, paints and coatings, and plastics, is anticipated to drive the demand for pearlescent pigments

NEWARK, DELAWARE, UNITED STATES, August 30, 2023/EINPresswire.com/ -- The pearlescent pigment market has been experiencing notable growth, driven by their versatile applications, technological advancements, and increasing demand for visually appealing products. The Pearlescent Pigment Market is forecast to experience a growth of 4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 3,745.8 million in 2023.

The pearlescent pigment is preferred by producers of industrial and automotive coatings for its visual brightness and distinctiveness, which improves the appearance of their goods. Effective, special-effect pearl pigments also raise the end product's sustainability level due to their inherent sustainability.

Sustainable pearlescent pigments have low levels of volatile organic compounds (VOCs) and improved barrier resistance, thermal stability, and durability. Customers are increasingly thinking about choices that allow them to lower their overall carbon footprint as they become more aware of the possible environmental harm. These variables suggest that the market will grow during the forecast period.

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This pigment has also stepped foot in the personal care and cosmetics industry, and since its arrival, it has revolutionized how consumers perceive beauty and appearance. This is credited to its cost-effectiveness, which makes achieving a ‘celebrity’ look possible on a budget. Many powders, creams, and lotions for personal care consist of natural pearl essence as an eco-friendly, dermatologically tested substitute to its toxic and synthetic counterparts.

Key consumers for this pigment are India, China, and Brazil due to their adoption quotient and surging per capita income. Moreover, the popularization of mass-customized goods and surging governmental assistance are expected to push construction activities and automotive production, thus broadening the application scope of these pigments.

Top Highlights from the FMI’s Analysis of the Pearlescent Pigment Market:

As per FMI estimates, the United States' stake in the global market is 27.3%, making it an ideal candidate for future business prospects.

Germany is expected to enjoy a market share of 6.8% in 2023, suggesting considerable opportunities for growth.

Australia is expected to attain 5.9%, representing one of the core markets for pearlescent pigment. Manufacturers are projected to explore burgeoning prospects in the country.

Japan’s share is estimated to be 5.6%, demonstrating a substantial market for business ventures of pearlescent pigment.

India is expected to expand at a CAGR of 4.8% over the forecast period, suggesting more investments are underway by manufacturers.

China and the United Kingdom are anticipated to expand at CAGRs of 4.4% and 3.9%, respectively, over the forecast period.

Based on purity type, natural pearl pigment is expected to take up the majority of the market share by gaining 67.4% in 2023.

Based on end use industry, the automotive paints industry is expected to contribute 39.3% market share in 2023.

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Market Developments Shaping the Pearlescent Pigment Industry

Sun Chemical introduced Xennia Pearl pigment inks in October 2021. The latter is used in fast-paced industrial applications. This consists of inks for both mid and high-viscosity printheads. The firm stated the creation of this product for its multi-substrate compatibility, robustness, consistent color, and excellent print performance.

DIC Corporation and Sun Chemical, its subsidiary firm, obtained Seller Ink in September 2020. The latter company is a Brazil-based producer of specialty inks and coatings. This acquisition is expected to help Sun Chemical expand its specialty inks and coatings business in Latin America.

BASF SE released eXpand! Blue EH 6001 in March 2019. The product is marketed under its brand name Colours & Effects. This product came to fruition due to a partnership between Landa Labs and BASF.

Fujian Kuncai Fine Chemicals Co. Ltd. introduced the “Dove Grey” pigment in May 2019. This pigment is a semi-transparent neutral grey hue, used mainly for industrial applications.

Top Key Players in the Global Market

BASF SE
Sudarshan Chemical Industries Ltd
Merck KGaA
DIC Corporation
ALTANA AG
Fujian Kuncai Material Technology Co., Ltd
CRISTAL
Shanghai Zhuerna High-Tech Powder Material Co., Ltd
Oxen Special Chemicals Co., Ltd
Huaian Concord Industrial Product Co., Ltd.
Spectra Colours Ltd
LANSCO COLORS
Aal Chem

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Pearlescent Pigment Market Segmentation

By Purity Type:

Natural Pearl Pigment
Synthetic Pearl Pigment
Glass Flake Pearl Pigment

By Structure Type:

Substrate-free
Monolayer
Multilayer
By End-use Industry:

Automotive Paints
Paints & Coatings
Personal Care
Plastic Industry
Printing
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa (MEA)

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Type, End-use Industry, and Region over the next 10 years.

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