Growing use in paints & coatings, and plastics applications is a prime factor in the growth of the special effect pigments market
The Global Special effect pigments market is projected to reach USD 969.2 million by 2022, at a CAGR of 5.3%, in terms of value. A major part of the growth is fueled by the increasing demand for differentiated and special appearance products. The demand for customized products with varied product differentiations and improved appearance is increasing with the growing spending power of end users.
Products with striking effects with maximum shimmer and luster are preferred over conventional solid colors. Stringent environmental regulations regarding toxic metals is restraining the growth of global special effect pigments market. The Registration, Evaluation and Authorization of Chemical Substances (REACH) regulation imposes legal conformity of pigments in application areas, raw material safety evaluation as well as the environmental relevance of special effect pigments.
Pearlescent pigments are the fastest-growing type segment in the special effect pigments market
Pearlescent pigments are composed of synthetic mica platelets or artificial glass substrates along with coats of metal oxides. These are obtained by lining up individual plates that act as tiny mirrors. These pigments offer shine, superior whiteness, and coverage with extraordinary optical effects. The market for pearlescent pigments is estimated to grow on account of the high demand for effects such as fine-grained luster and silvery white sparkle which can be achieved using pearlescent pigments. These are widely used for various applications in the cosmetics industry such as skin-care, hair-care, eyeshadows, nail polish, and make-up.
Rising demand in the Asia-Pacific is the major driver in the special effect pigments market
The Asia-Pacific region is the largest and fastest-growing special effect pigments market, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the applications of special effect pigments such as paint & coatings, plastics, and printing inks are some of the major factors expected to fuel the growth of the market. Countries such as China, India, and South Korea are expected to drive the growth of the market in the Asia-Pacific region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type: Tier 1 – 57%, Tier 2 – 29%, and Tier 3 – 14%
- By Designation: C level – 40%, Director level – 33%, and Others – 27%
- By Region: North America – 9%, Europe – 7%, Asia-Pacific – 48%, Middle East & Africa – 8%, and South America – 28%
The key companies profiled in this report are BASF SE (Germany), Clariant AG (Switzerland), Huntsman Corporation (U.S.), Altana AG (Germany), Merck KGaA (Germany), and Sudarshan Chemical Industries (India).
Research Coverage :
The market is segmented based on type, application, and region. This report covers the special effect pigments market, in terms of value and volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players in the global special effect pigments market.
Reasons to Buy the Report :
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the special effect pigments market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
- It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- It will help stakeholders understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
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