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Aluminum pigments market is estimated to garner a revenue of ~ USD 909.7 Million by the end of 2033 by growing at a CAGR of ~6%
NEW YORK, UNITED STATE, January 27, 2023 /einpresswire.com / -- Global Aluminum Pigments Market Key Insights
During the forecast period of 2023-2033, the global aluminum pigments market is expected to reach an estimated value of ~USD 909.7 million by 2033, by expanding at a CAGR of ~6%. The market further generated a revenue of ~USD 488.7 million in the year 2022. Major key factor propelling the growth of aluminum pigments market worldwide is the massive growth in the cosmetic industry. In the recent years, there has been a rising demand for cosmetic products that provides high gloss, mirror-like reflection with superior brilliance in decorative finishes. As aluminum-based pigments offer these metallic effects, hence the demand for the product is on a rise in the cosmetic industry.
Market Definition of Aluminum Pigments
A packed metallic pigment or dust is known as aluminum paste. A variety of paints, varnishes, and inks have metallic aesthetics thanks to the usage of aluminum pigments. Different effects are produced by varying the particle size and shape inside the coating, ink, or masterbatch (ink for graphic arts and masterbatch for plastics). Simply adding colors to paint or ink is insufficient. To make a paste, the aluminum pigments are mixed with a dispersion made of water or a solvent. The paste is frequently described as a slurry or pigment slurry.
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Global Aluminum Pigments Market: Growth Drivers
The growth of the global aluminum pigments market can majorly be attributed to the increasing consumption and manufacturing of cosmetic products across the world. According to a survey, the US cosmetic business was expected to generate roughly USD 48 billion in revenue in 2022. Lipsticks, eye shadow, nail polish, makeup, mascara, blushers, shampoo, body wash, lotions, and creams are just a few examples of cosmetics goods that call for specific effect pigments. Aluminum pigments are widely employed in these items to provide shiny, glossy effects. Additionally, during the forecast period, the demand for appealing labels in the food and beverage industry is predicted to fuel market expansion for aluminum pigments. For instance, the non-alcoholic beverage market is anticipated to develop at one of the fastest rates among all the beverage industry's label groups, increasing from roughly USD 370 billion in 2020 to about USD 400 billion in 2021.
The global aluminum pigments market is also estimated to grow majorly on account of the following:
Increasing consumption of plastic
Rising sales of customized premium cosmetic products
Surge in import-export
Increase in innovative aluminum pigment production
Growing consumption of paint and ink
Global Aluminum Pigments Market: Restraining Factor
Aluminum pigments' remarkable color purity and translucence are becoming more and more well-liked. However, alumina effect pigments have a few drawbacks, including short shelf life and the need for a controlled storage environment and container. Hence this factor is expected to be the major hindrance for the growth of the global aluminum pigments market during the forecast period.
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Global Aluminum Pigments Market Segmentation
By Application (Paints & Coatings, Plastics, Printing Inks, and Others)
Out of which, the paints and coating market attributes the largest share on the back of an increase in the construction industry and a rise in disposable personal income of the population. More than 7.5 million people are employed by more than 7,00,000 companies in the U.S. construction industry, which also produces structures worth an estimated 1.5 trillion dollars annually. Additionally, during the course of the projected period, category growth is anticipated to be fueled by increasing sales of vehicles, airplanes, and business jets. For instance, more than 700 planes sold globally in 2021 were new business jet sales, an increase of about 9% from the 630 jets sold in 2020.
By Type (Leafing, and Non-Leafing)
By Form (Paste, Pellet, Powder, and Flakes)
By Region
The Asia Pacific aluminum pigments market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The growth of the market is anticipated to be driven by the increasing sales and demand for luxury and passenger vehicles in developing nations like India, China, and Japan. For instance, it was found that between January and May 2022, India sold close to 16,500 premium vehicles, up 50% from the previous year. Additionally, the expansion of the automotive and construction sectors as well as rising government R&D spending are predicted to drive market growth.
The market research report on global aluminum pigments also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Aluminum Pigments Market
Some of the key players of the global aluminum pigments market are Silberline Manufacturing Co. Inc., ALTANA AG, BASF SE, Kolortek Co. Ltd, Geotech International B.V., Asahi Kasei Corporation, Sun Chemical Corporation, Carl Schlenk AG, FX Pigments Pvt. Ltd, Metaflake Ltd., and others.
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