Rising demand for eco-friendly paints & coatings along with low carbon emissions is stimulating the growth of powder pigments market size. Aluminum and copper metallic pigments are experiencing high demand owing to the availability of high product variety.
Growing demand from decorative paints & coatings industry owing to thriving automotive OEM and refinish industry may increase metallic pigment market demand. These products impart an elegant appearance, silvery metallic finish, and degradation resistance which increases their suitability for wheel coatings, interior coatings, other parts, and accessories thereby promoting metallic pigments market growth.
Stainless steel-based metallic pigments market size from paints & coatings applications may register gains at over 5.5% by 2024 owing to ultraviolet, abrasion & corrosion resistance, hardness, and high strength properties. These products are incorporated in conventional water and solvent-based protective coatings and applied on metal substrates for enhanced protection. Moreover, these products form a multilayered structure tightly bonded to the substrate which exposes the flake particles despite the loss of the coating binder, thus offering sustained protection and influencing the market revenue.
North America driven by the U.S., Canada, and Mexico nickel-based metallic pigments market size may witness consumption at over 2.4 kilo tons up to 2024. These products provide several benefits such as versatility, high corrosion resistance, electrical conductivity, ferromagnetism and attractive appearance. These products have various applications including decorative coatings and electrically-conductive coatings for aerospace & military applications and wall shields.
China copper-based metallic pigments market size is expected to surpass $90 million over the forecast timeframe. The presence of a major manufacturing base, booming plastics & printing inks sector, and favorable regulations may boost market growth in the region. These products exhibit a unique metallic-bronze and gold visual effect which increases product suitability for coating and decorative ink applications for metal substrates. Moreover, copper-based products are available at lower costs, provides malleability, corrosion resistance, and specific gravity which may increase stimulate product demand.
Stainless steel pigments market share from paints & coatings sector will record a CAGR of 5.5% over 2018-2024, driven by the material’s high-strength and corrosion resistance features.
North America nickel pigments market is expected to surpass a consumption of 2.4 Kilo tons by 2024. The regional demand is chiefly driven by the United States, Mexico, and Canada.