by The global Pearlescent Pigment Market is estimated to be valued at US$ 3.98 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Pearlescent pigments are pigments with multi-colored flakes or nanoparticles that create a lustrous, sparkling effect. They are used to add glitter and shine to cosmetics, paints, coatings and plastics.
Market key trends:
One of the key trends in the pearlescent pigments market is the increasing application in automotive coatings. Auto manufacturers are focusing on developing attractive and high gloss surfaces on cars. Pearlescent pigments are widely used in automotive OEM coatings and industrial refinish coatings due to their light interference, sparkling effect and high opacity. They provide colors with extraordinary depth and brilliance which enhances the aesthetics of automobiles. With the growth of the automotive industry, demand for pearlescent pigments from this application segment is expected to increase significantly over the forecast period.
Market key trends:
One of the key trends in the pearlescent pigment market is the growing demand for highly durable pearlescent pigments from the automotive industry. Pearlescent pigments provide automotive coatings with unique aesthetic appearance along with high durability. The increasing production of automobiles globally is driving the need for advanced pigments that can withstand harsh outdoor conditions and offer longevity. Manufacturers are focusing on developing pearlescent pigments with enhanced rubbing and weathering resistance to meet this rising requirement from the automotive industry.
SWOT Analysis
Strength: Pearlescent pigments provide vibrant appearance and aesthetic enhancement to various products. Their unique optical properties enable new design possibilities.
Weakness: Pearlescent pigments have higher production cost compared to conventional pigments.
Opportunity: Growing application in paints & coatings, plastics, printing inks and cosmetic industries. Demand in Asia Pacific and Middle East & Africa expected to surge over the forecast period.
Threats: Stringent environmental regulations pertaining to VOC emissions during manufacturing. Substitution threat from new special effect pigments.
Key Takeaways
The global pearlescent pigment market size was valued at USD 3.98 billion in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 4.7% during the forecast period to reach USD 5.28 billion by 2030. The growth is attributed to an increasing demand for pearlescent pigments from the automotive industry where they are used to impart luxurious appeal in automotive coatings.
Regionally, Asia Pacific accounted for the largest market share in 2023 attributed to substantial production and sales of automobiles especially in emerging economies of China and India. China represents largest consumers of pearlescent pigments in Asia Pacific.
Key players operating in the pearlescent pigment market are BASF SE, Sudarshan Chemical Industries Ltd., Merck KGaA, DIC Corporation, ALTANA AG, Fujian Kuncai Material Technology Co., Ltd., CRISTAL, Shanghai Zhuerna High-Tech Powder Material Co., Ltd., Oxen Special Chemicals Co., Ltd., Huaian Concord Industrial Product Co., Ltd., Spectra Colours Ltd., LANSCO COLORS, Aal Chem, Zhejiang Ruicheng Effect Pigment Co., Ltd, Sinpearl Pearlescent Pigment Co., Ltd., and Kolorjet Chemicals Pvt. Ltd.
