The global pearlescent pigment market is expected to grow at an impressive CAGR of 4.0% during the forecast period from 2023 to 2033. The market is projected to generate a revenue of USD 3,745.8 million by the end of 2023 and is anticipated to surpass USD 5,544.7 million by 2033. This growth is largely driven by factors such as expansion in the automotive, paints and coatings, and plastics industries, along with increasing investment in product development.
Historically, from 2015 to 2021, the pearlescent pigment market grew at a CAGR of around 4.2%. A notable surge in demand for pearlescent pigments has been observed, particularly for applications in the printing and food packaging industries. These factors are expected to drive the market to USD 5,331.4 million by 2032, with sales projected to increase by nearly 1.5x during the forecast period (2022-2032).
Regionally, East Asia is predicted to remain a leading consumer of pearlescent pigments, with South Asia, especially emerging economies like India, showing positive growth. The global demand for pearlescent pigments, fueled by applications in personal care and the paints and coatings industries, is expected to rise, with pearlescent pigments accounting for 6-8% of the overall pigment market.
Key Takeaways:
- The global rise in the automotive industry, coupled with increased purchasing power, has led to a growing demand for luxury passenger cars. Automakers are focusing on aesthetically pleasing finishes, driving sales of pearlescent pigments.
- Pearlescent pigments, though more expensive than organic pigments, are valued for their ability to provide high luster and premium finishes, particularly in luxury cars.
- Borosilicate glass flake pearlescent pigments are widely used in cosmetics, especially lip gloss, with applications expected to grow over the next decade.
- These pigments are also popular in lip, eye, face, and nail products due to their ability to diffuse light and reduce the appearance of wrinkles.
- The market is seeing a rise in the use of pearlescent pigments in digital printing, offering enhanced dispersion, viscosity, and consistency.
- The packaging industry’s demand for high-quality graphics is boosting the need for pearlescent pigments. Additionally, synthetic mica, used as a substrate material, offers greater transparency and fewer impurities than natural mica, driving further market growth.
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
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.
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
Report Preview: https://www.futuremarketinsights.com/reports/global-pearlescent-pigment-market
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