The market has been predominantly influenced by certain industrial and innovation factors including growth in automotive, paints and coatings, and plastic industry and investment in product development.
The global pearlescent pigment market is expected to poise an impressive CAGR of 4.0% over the assessment period from 2022 to 2032. The market is projected to garner a total revenue of US$ 3,601.70 Mn by the end of 2022 and is anticipated to surpass US$ 5,331.4 Mn by 2032.
Predominant influence on the market is by certain industrial and innovation factors including growth in automotive, paints and coatings, and plastic industry and investment in product development. According to historic evaluations, the pearlescent pigment market witnessed a growth outlook of around 4.2% CAGR over the period between 2015 and 2021.
However, a significant surge has been witnessed in demand for pearlescent pigments, particularly for application in the printing and food packaging industry. Owing to these factors, the demand for the pearlescent pigment market is anticipated to reach US$ 5,331.4 Mn by 2032. Sales in the market are projected to expand by nearly 1.5x over the forecast period (2022-2032).
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On the basis of regional segmentation, the East Asian region is predicted to remain prominent in the consumption of pearlescent pigment. The south Asian market is expected to witness a positive growth outlook, especially in emerging countries like India.
Attributing to the growing applications in various industries including personal care and paints & coatings industries, the global pearlescent pigment market is expected to have higher demand over the years. The global consumption of pearlescent pigment is estimated to be around 6-8% of the overall pigments market.
Key Takeaways
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Key Companies Profiled
Competitive Landscape
Prominent players in the market are focusing on surging their manufacturing capacities and are extensively setting up their manufacturing units, sales offices, and distribution channel in emerging economies to boost their sales, especially in emerging economies.
Key participants are also focusing on the acquisition of small and medium-sized manufacturers to enhance their annual turnover. Some of the leading players are also focusing on tailored product offerings as per the specific requirements of the end-use industries.
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Pearlescent Pigment Market Segmentation
By Purity Type:
By Structure Type:
By End-use Industry:
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More Insights into the Pearlescent Pigment Market
According to FMI studies, a significant development in the industrial sector all over the U.S. is expected to result in an upsurge in pearlescent pigment production.
It has been widely adopted in various industries such as automotive, paints, and coatings, and plastic compounding will also spur the demand for pearlescent pigment. Backed by this, the U.S. is estimated to account for around 27% of the global market share.
Demand for pearlescent pigment is predicted to surge in China with a phenomenal CAGR of 6.4% over the projection period. Owing to the significant growth in the construction sector, development in the paints and coatings industry, growth in the plastic industry and significant rise in the automotive industry are the key driving factors in the China pearlescent pigment market.
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Paper Pigments Market: During the production of pulp & paper, various chemicals/pigments are utilized as additives and as processing agents. The selection of these pigments is dependent on the functional properties required to be imparted to papers and paperboards.
Dyes and Pigments Market: Dyes are intensely colored or flaming organic materials, which are naturally colored and impart color to a substrate by absorption of light. The pigment is a chemical material, which alters the color of the transmitted or reflected light due to wavelength-selective absorption.
Organic Pigments Market: The global organic pigments market is projected to have a moderate-paced CAGR of 4.5% during the forecast period. The current valuation of the market is US$ 5862 Million in 2022.
Future Market Insights (ESOMAR certified 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.
Mar 22, 2023