The escalating commercialization of aluminum pigments market is quite evident from the growing of number of initiations by the key players pertaining to strategic collaborations in the competitive terrain. The recent announcement of Nexeo Solutions’ extension of partnership with Silberline Manufacturing Company, one of the renowned global suppliers of high quality aluminum pigments bears a testimony to the aforesaid fact. Reportedly, the leading chemical and plastic distributor, Nexeo would be merchandising Silberline’s two of the special category roof coating pigments, RC-65 and L-1015 in the market. As depicted by market experts, this strategic move will strengthen both of their business positions in the aluminum industry space with an expanded product portfolio and a better value chain. Aluminum pigments industry space is extensively characterized by similar kind of partnership initiations to diversify the product portfolio and address the wide ranged end-use landscape that include automotive, construction, paints & coatings etc.
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Speaking along the similar lines, it is therefore imperative that the growth of these aforementioned sectors will leave a direct influence on the aluminum pigments market demand. In fact, the recent trend of aesthetically designed vehicles with lustrous paints have upscaled the market value of aluminum pigments. In the automotive paints and coatings industry, these pigments are mainly deployed to enhance the appearance of the vehicles. As per a recent estimation by Global Market Insights Inc., overall paints and coatings sector procured almost 40% of the global aluminum pigments industry share in 2015.
Worldwide, the demand for powder coatings in the automotive sector have witnessed a remarkable surge in the recent years, subject to their lower environmental impact than conventional coating. Aluminum pigments market commercialization can be majorly grounded to this fundamental aspect. In fact, estimates depict that one of the most extensively deployed metallic pigments in powder coatings are grounded on aluminum. Speaking of geographical trends, APAC observes a lucrative growth prospect in the aluminum pigments industry from automotive applications. Accounting for a revenue of USD 120 million in yesteryear, the regional market is forecast to record a y-o-y growth of 7% over 2017-2024.
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North America share of the aluminum pigments market is estimated to be above 130 million by 2024, increasing with CAGR of almost 6%. Steady demand for cosmetic products coupled with a growing automotive and decorative coatings market will be the chief drivers in North America. Latin America is one of the quickest growing aluminum pigments market with CAGR exceeding 6.5%. This region is estimated to earn a revenue above USD 30 million by the end of 2024. Healthy growth in construction industry will increase the demand for paints & coatings which will in turn propel the aluminum pigments market in this Latin America.
Worldwide, aluminum pigments industry landscape is rather consolidated with leading four companies having covered one third of the global share in 2016. Some of the prominent names in the industry include Altana, Carl Schlenk, Carlfors Bruk, and Silberline. Key players are extensively investing in M&A and research activities to expand their business territory for maintaining sustainable supply chain. With established companies leading the way, aluminum pigments market is expected to register a CAGR of 6.5% over 2017-2024, with a target revenue of USD 580 million by 2024.
Browse key industry insights spread across 110 pages with 140 market data tables & 14 figures & charts from the report, “Aluminum Pigments Market Size By Grade (Leafing, Non-leafing), By End-user (Paints & Coatings, Plastic, Personal Care, Printing Inks), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
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Pigments Market Forecast, 2016 – 2024
Pigments Market size was USD 12.7 billion in 2015, and is anticipated to grow at a CAGR of 4.5% between 2016 and 2024. Global pigment market has witnessed significant growth over the past few years owing to developments in end user industries such as paints & coatings, construction, etc. and increased trend towards demand of specialty products. This trend is forecast to continue in the coming years due to advancement of new coating technology and availability of suitable alternatives for synthetic inorganic pigments.
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