Large and mid-sized companies are the key providers in the global aluminum pigments market. Nearly 48% of the global aluminum pigments market was occupied by the top six players, viz. Zhangqiu Metallic Pigment Co. Ltd., Sun Chemical Corporation, Carlfors Bruk AB, Carl Schenk AG, Silberline Manufacturing Co. Inc., and Altana AG. Of these, Altana AG was the leading player in 2015, through a wide array of production sites and types of aluminum pigments.
According to the analysts at Transparency Market Research, the threat of new entrants will be low between 2015 and 2023, owing to the significantly high trust value achieved by the top players, the high cost of entry with regards to installation of machinery and raw materials, and the overall high level of difficulties in the assessment of equipment and technologies. From a regional perspective, Asia Pacific nations – specifically India and China – are expected to provide the largest growth opportunities for players in the global aluminum pigments market for the coming years, owing to their rapidly developing industries and a high demand for aluminum pigments.
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Automotive Industry Boom Carries Global Aluminum Pigments Market Growth Rate
The paints and coatings industry has long since been the single largest user of aluminum pigments. The paints and coatings industry is currently finding major opportunities in the automotive sector, owing to this industry’s rapid rate of growth especially in emerging economies. The high demand for paints and coatings in the automotive sector is therefore bringing forth major growth opportunities for the global aluminum pigments market. “It is currently the top driver for the sales of aluminum pigment,” states a TMR analyst. “The automotive industry boom is significantly higher in emerging economies such as China, India, and Brazil, and that is where the global players should be looking for better sales and production opportunities.”
The automotive industry from the emerging economies is not only witnessing a growth in consumer numbers, but is also experiencing a greater sway of color preferences from the consumers. Car color has always held a high aesthetic value among consumers, and the increasing rate of disposable income has allowed them to demand for higher quality automobile paints and coatings, most of which utilize aluminum pigments.
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Growing Environmental Concerns Drive Players Towards Eco-friendly Aluminum Pigment Products and Processes
The increasing carbon footprint of industries is rapidly becoming a major cause of concern for countries. As a result of the regulatory pressure exerted over the production of pigments and chemicals that might pose harm to the environment, manufacturers are increasingly shifting towards eco-friendly methods and products. This includes advanced inhibition systems that can produce waterborne aluminum pigment applicants.
Expanding at a CAGR of 6.4% in terms of revenue, the global aluminum pigments market is expected to be valued over US$581 mn in 2024. It was declared to hold a total revenue of slightly over US$332 mn in 2015. In terms of volume, the global aluminum pigments market was recorded at close to 46 kilo tons in 2015. The paints and coatings industry is largely responsible tin driving the global aluminum pigments market. The revenue generated by this market from the paints and coatings industry in 2015 was around US$21 mn.
Key Segments of the Global Aluminum Pigments Market
Aluminum Pigments Market – End-user Analysis
- Paints & Coatings
- Plastics
- Personal Care
- Printing Inks
- Others (Including Construction Materials, etc.)
The above data was collated from a research report released by TMR, titled “Aluminum Pigments Market for Paints & Coatings– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016–2024.”
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