The global pearlescent pigment market was valued at $396 million in 2014. The market is characterized by increasing preference for uniqueness & aesthetic brilliance in industrial coatings & automotive paints. Pearlescent pigments are manufactured with a mica base, which provides a glittering effect and are very cheap than natural pearl essence. Another major aspect influencing pearlescent pigment trends increasing awareness regarding reducing natural mineral deposits & ore reserves, which will boost the demand for synthetic substitutes.
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Based on products, the global market has been segmented into titanium dioxide coated mica, natural pearl essence, combination mica, ferric/iron oxide coated mica, and other chemical coated products like basic lead carbonate & bismuth oxychloride. Titanium dioxide (TiO2) coated mica was the most used white-effect pigments in printing inks & paints, due to its extreme brightness. The TiO2 mica pearl pigment sector’s market value was estimated at USD 148 million in 2014. The increasing popularity of high-luster pigments in industrial coating applications is projected to boost the market in the near future.
The major applications are cosmetics, coatings & paints, printing inks, plastics, and others such as textiles, food, paper etc. Industrial machinery coatings & automotive paints account for the biggest share of the global market. The coatings & paints sector, thus, accounted for 36% of the total share in 2014. The cosmetics sector is expected to increase at a CAGR of 4.2% during the forecast period (2015–2022).
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The increasing popularity of luxury & sports cars with dazzling chromatic effects is said to boost the product demand in the automotive market. Plastic formulators are also gradually including pearl pigments while compounding master batches. This sector is projected to grow at the topmost CAGR of 5% over the forecast period.
North America was the biggest regional market with about 38% of the global market share in 2014. In Asia-Pacific, increased disposable income has positively affected the automobile & customer goods sales in India, China, & Vietnam driving the pearl pigment demand.
Smarol Technology, BASF SE, Huaian Concord Industrial Product Co. Ltd. (Kolortek), Lansco Colors, Sun Chemical Performance Pigments, L’Arca Srl (Arca Colours) are some of the major companies in the market.
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