Growing pace of industrialization has contributed positively to the development of the aluminum pigments industry.
The increasing demand cues observed from the food and beverage sector in terms of the need to have high quality and smart packages for products has elevated the need for aluminum pigments from this sector. The resistive properties of aluminum pigments are expected to be one of the top factors that will motivate the growth of the industry in the coming years. Increasing awareness levels towards coatings products that have low carbon footprints will be another positive factor driving the growth of the industry in the forecast period.
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Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. This situation has created prospects for portfolio improvements along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
Few of the noteworthy competitors covered in the report include Asahi Kasei Chemicals Corporation (Japan), Kolortek Co., Ltd (China), Carl Schlenk AG (Germany), Silberline Manufacturing Co., Inc. (U.S.), BASF SE (Germany), GEOTECH (the Netherlands), AMETEK.Inc. (U.S.), Hefei Sunrise Aluminium Pigments Co., LTD. (China), Toyal America, Inc. (U.S.), and Metaflake Ltd (U.K).
The industry segments for the aluminum pigment market globally is segmented on the basis of end use industry, form and region. On the basis of form, the aluminum pigment industry is segmented into paste, powder, and pellets. The aluminum pigment market is categorized for the end user segment into plastics, printing, paints & coatings, cosmetics and others. Lastly, the regions for the industry are categorized into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Detailed Regional Analysis:
Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa are the regions that are reviewed in the aluminum pigments market. The North American region is projected to develop with the highest CAGR in the duration of the review period because of the expanding defense and aerospace sector. The demand for aluminum pigment is expected to develop at an accelerated pace in several countries of the Middle East & African region such as the United Arab Emirates, Iraq, Iran, Saudi Arabia, and Kuwait owing to increasing tourism & travel sector. Besides, the availability of huge reserves of oil & gas reserves in this region is expected to boost the expansion of the market due to the use of aluminum pigment in protecting industrial machinery. The North American aluminum pigment region is anticipated to observe a tremendous growth due to rising consumption potential, growing production capacities, and escalating economic growth rate.
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In Europe, the demand for aluminum pigments is anticipated to grow in many countries such as Germany, U.K, France, Italy, Spain, and Russia because of the increasing expenditure on innovations and rising purchasing power of consumers. Latin American nations such as Colombia, Argentina and Brazil are also predicted to observe substantial development due to increasing consumer spending on passenger cars as well as incorporation of new technologies and inventions in aluminum pigments. The aluminum pigment market in the Asia Pacific region is expected to grow with the moderate CAGR owing to developments in crude oil processing and growing number of petroleum refineries in China and India that will favorably boost the industrial aluminum pigment coatings.
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