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The aluminum pigment market size is estimated to grow by USD 160.13 million at a CAGR of 5% between 2022 and 2027. The growth of the market depends on several factors such as the growing demand from the automotive sector, the wide range of end-user applications, and the high demand for aluminum powder in construction applications.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market is the high demand for aluminum powder in construction applications. One of the main end-users of aluminum powder and pigment is the construction industry. There is an increasing adoption across the construction industry of materials such as aerated concrete products, fly ash bricks, construction paints, and coatings.
Moreover, the majority of the solvent and waterborne silver coatings manufactured today are prepared using aluminum pastes. Some of the key countries where there is an increasing demand for aluminum powder and pigment include the US, Australia, France, the UK, and Germany. Therefore, the demand in the construction paints and coatings industry is fuelled by the rise in the number of construction projects globally. Hence, such factors are expected to drive the market during the forecast period.
A key factor shaping the market is the aluminum pigments with low VOC content. There are several stringent regulations enforced on the global paints and coatings market to reduce air pollution. One of the major causes of ozone layer depletion is the VOCs released from these paints and coatings. Hence, this is a significant challenge for market players who use solvent-based pigments in paints and coatings
Moreover, the advent of water-based aluminum pigment plays a significant role in addressing the issue of the VOC emission rate. Additionally, there is an increasing focus by several manufacturers on innovating aluminum pigments with low VOC for paints and coatings. Hence, such factors are positively impacting the market which in turn will drive the market during the forecast period..
Volatility in global aluminum prices is one of the key challenges hindering the market. There is a significant fluctuation in the prices due to several external factors. One of the main reasons is the US sanctions imposed against Russian conglomerate Rusal in April 2018. For instance, Rusal is estimated to contribute almost 6% of global aluminum production.
However, there is a temporary halt of Rusal operations in the supply of aluminum to a larger extent. As a result, there is a significant increase in the price which has significantly impacted the end-users. Hence such factors are negatively impacting the market. Therefore, it is expected to hinder the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alba Aluminiu SRL: The company offers coatings and plastic, printing inks, and industrial inks.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The paints and coatings segment is estimated to witness significant growth during the forecast period. There is an increasing use of these pigments in paints to impart a metallic effect and to improve their technical properties, such as corrosion resistance and conductivity. Furthermore, there is a growing adoption of these pigments across automotive paints, industrial paints, construction paints, and other decorative paints. Some of the key advantages of these pigments include selective absorption, better reflection, and their dual use as solvent-borne and water-borne pigments which makes them ideal for use in other metallic pigments
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The paints and coatings segment was the largest segment and was valued at USD 224.95 million in 2017. Factors such as greater construction activities and higher use of automotive paint globally.are significantly contributing to the growth of this segment. Additionally, there are several stringent regulations enforced on the VOC levels in paints across the world. As a result, there is an increasing focus by several prominent manufacturers such as Sun Chemical Corp., (Sun Chemical), a member company of DIC Corp on developing low-VOC aluminum pigments. The solvent-free COMPAL WS pigments from Sun Chemicals are nonflammable and, thus offer several advantages in terms of shipping, storage, handling, and dosing. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the key factors that are significantly contributing to the growth of the global market in APAC are the increasing demand for paints and coatings, printing inks, and plastics in various end-user industries. However, on the other hand, some factors such as the US trade tariff on Chinese aluminum, the closure of old smelters, and the volatility of primary aluminum prices can restrict the market growth in the region.
In addition, one of the leading exporters of value-added aluminum products like aluminum pigments and extrusions is China which is significantly contributing to the growth of the market in APAC. Some of the other prominent countries that are boosting the market growth in the region include India, Australia, and Indonesia. The paints and coatings industry is one of the main end-users of aluminum pigment in APAC, followed by plastics and printing inks. Hence, such factors are driving the market growth in the region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The market is crucial for various industries, offering Coating additives for Industrial finishes and Surface decoration. These pigments are used in Paint pigments and Reflective coatings to enhance Automotive coatings and provide Metallic sheen.
With a focus on Specialty pigments and Decorative finishes, aluminum pigments are valued for their Reflective properties and ability to create Metallic effects. They are widely used in Architectural coatings for their surface enhancement capabilities. The market includes products like Metal flake pigments and Powder coatings, which are essential for creating Reflective coatings and achieving desired aesthetic effects. As demand for high-quality finishes grows, the market is expected to expand, driven by the need for innovative Pigment dispersion solutions.
Aluminum Pigment Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2023-2027 |
USD 160.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.55 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alba Aluminiu SRL, Altana AG, Asahi Kasei Corp., BASF SE, BioTio Industries, Carlfors Bruk AB, DIC Corp., FX Pigments Pvt. Ltd., Hefei Sunrise Aluminium Pigments Co. Ltd., Metaflake Ltd., Nippon Light Metal Holdings Co. Ltd., SCHLENK SE, Shandong Jie Han Metal Material Co. Ltd., Shanghai Titanos Industry Co. Ltd., Silberline Manufacturing Co. Inc., SMC Minerals and Chemicals, SP Colour and Chemicals, The Arasan Aluminium Industries P Ltd., The Metal Powder Co. Ltd., and Zhangqiu Metallic Pigment Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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