The global market for aluminum pigments features
the dominance of large- and mid-sized companies, with the leading six
vendors collectively accounting for a nearly 48% of the overall
market in 2015, says Transparency Market Research in a recent report.
These leading market participants, namely Sun Chemical Corporation,
Silberline Manufacturing Co. Inc., Zhangqiu Metallic Pigment Co.
Ltd., Altana AG., Carl Schenk AG, and Carlfors Bruk AB command
immense control on the market owing to vast product portfolios and
strong production potentials.
The market exhibits stringent entry barriers to
new entrants owing to the high facility establishment costs, high
cost of machinery and raw materials, and the high trust value
achieved by leading vendors. Immense difficulties present in the
process of technology and equipment assessment could also present
entry challenges for new companies in the global aluminum pigments
market.
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Transparency Market Research projects that the
global aluminum pigments market will exhibit a CAGR of 6.4%, in terms
of revenue, over the period between 2016 and 2024, rising from a
valuation of US$332 mn in 2015 to US$581 mn in 2024. In terms of
volume, the market had a valuation of nearly 46 kilo tons in 2015.
Asia Pacific Market to Remain Key Consumer of
Aluminum Pigments
Of the key users of aluminum pigments, including
industries such as plastics, paints and coatings, printing inks,
personal care, and construction materials, the segment of paints and
coatings holds the dominant share in the global aluminum pigments
market in 2015. The segment generated revenue worth US$21 mn in the
said year and is expected to continue to account for a significant
share in the market’s overall revenue over the forecast period.
From a geographical standpoint, the market in Asia Pacific is
presently the leading contributor to the revenue of the global
aluminum pigments market owing to the swiftly expanding industrial
sector and the rising set of applications of aluminum pigments across
a number of industries.
Thriving Automotive Industry to Remain Key
Contributor of Revenue to Market
One of the key factors propelling the market for
aluminum pigments across the globe is their rising demand across the
paints and coatings and the automotive industries. The thriving
automotive industry, especially across emerging economies in regions
such as Asia Pacific, is expanding in terms of consumer base as well
as the establishment of manufacturing and assembling facilities.
Owing to the strengthening economies, rising disposable incomes, and
increased purchase of commercial and public vehicles, a number of
automotive companies are directing their business expansion
activities towards these economies. The resultantly swelling
automotive industry in the region is expected to provide massive
growth opportunities to the market for aluminum pigments in the next
few years.
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Apart from the use of aluminum pigments in protective paints for automobiles, the increasing demand from consumers for a lager set of color preferences in cars is also contributing to the increased demand for aluminum pigments in the automotive industry. The trend is expected to remain strong over the next few years and development of the automotive industry will continue to remain a key determinant of the growth prospects of the global aluminum pigments market. The increased focus on the development of environmentally viable paints and coatings will also remain a key determinant of growth of failure of business ideas implemented in the market in the near future.
This analytical overview of the global aluminum
pigments market is based on a recent Transparency Market Research,
titled “Aluminum Pigments Market (End User - Paints and Coatings,
Plastics, Personal Care, Printing Inks, and Construction Materials) -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2016 - 2024.”
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