Booming Automotive Industry Prompts Global Metallic Pigments Market to Reach US$1,286.7 Million by 2023
The global metallic pigments market was valued US$736.2 million in 2014. The market is expected to reach a value of US$1,286 million by 2023, if it can maintain an estimated CAGR of 6.4% from 2015 to 2013. According to a report released by Transparency Market Research, titled “ Metallic Pigments - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 ”, the market’s primary growth driver has been growing demand for aluminum. The report states that aluminum was the largest product segment of the global metallic pigments market in 2014. A majority of the market was taken up by plastics, printing inks, coatings, and paints that were based on aluminum pigments. Aluminum was the preferred metal due to the visual appeal that it brought out. In comparison, 15% of the 2014 global metallic pigments market was held by copper, which is used to apply a gold bronze finishing t...