Effect Pigments Market is forecast to reach $975 million by 2025, after growing at a CAGR of 5.8% during 2020-2025. With rise in the consumption effects pigments in automotive sector, the Effect Pigments market is witnessing an increase in demand. Pigments Absorbed by Inhalation will further create problems for the overall market demand for Effect Pigments during the forecast period.
Effect Pigments Market Segment Analysis – By Type
Metal segment holds the largest share in the Effect Pigments market. While the process is technical and the variations infinite, metallic pigments are metal/alloy flakes that are added to products and systems to achieve a visual effect. The flakes are added to automotive paint to make a red sports car sparkle, or plastic to make cosmetics bottles standout. These pigments are even found in printing inks to communicate luxury and status with product packaging. In other cases, metallic flakes and granules can be added to perform more functionally. As an example, aluminum pigments can be used to reflect heat. These aluminum pigments can be added to interior and exterior paints, keeping heat in during the winter and heat out during the summer.
Effect Pigments Market Segment Analysis – By Application
Automotive sector has been the primary market for Effect Pigments. The metal effect and pearlescent automotive pigments from are visible everywhere. They provide vehicles with not only an elegant appearance but also advocate advanced technology and precision. Effect pigments offers a diverse product portfolio of effect pigments for all areas of the automobile industry. Regardless of the end-use application, special effect pigments provide a differentiated appearance. That is certainly true in the automotive industry, where they are used in coatings applied to both the interior and exterior of vehicles. Shifts in customer color and appearance preferences drive the use and development of effect pigments, as do developments in coatings technology and application processes. High sparkle finishes and intensely chromatic colors on car bodies and mirror-like finishes on interior components are increasing in popularity and driving the use of glass flakes, colored aluminums, and aluminum pigments with a much finer particle size.
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Effect Pigments Market Segment Analysis – Geography
APAC dominated the Effect Pigments market with a share of more than xx%, followed by North America and Europe. APAC consist a very dominant part in the world’s roadway network because of the large area it acquired. Whereas AH1 is the longest route of the Asian Highway Network, running from Tokyo, Japan via Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan and Iran to the border between Turkey and Bulgaria west of Istanbul where it joins end-on with European route E80. Roadways networks were always built because of the increase in number of vehicles and as the no. of vehicles increases the market for effect pigments will also grow.
Effect Pigments Market Drivers
Growing demand for light- weighted and efficient automobiles
In countries such as China, India, Japan are the huge market for automobiles sector. As, in these countries there is continuous growth in the automobile manufacturing sector. Because of the feature of carbon fibre to make vehicles more efficient by reducing weight, vibration, noise of the vehicles. Thermoplastic composite materials boast outstanding characteristics, making them increasingly valuable in many sectors as a substitute to metal. The objective is to develop lighter, less fuel-intensive vehicles emitting less CO2. Owing to this the demand for carbon thermoplastic will increase.
Stringent Environment Regulations by Governments
Governments globally are focusing on giving boost to the electric and solar vehicles on road to lower down pollution. By increasing more and more eco-friendly vehicles the market for automotive carbon thermoplastic will grow. For an example Tata Motors launched Hybrid and electric Starbus from manufacturing facility in Pune under its zero emission mass transport solution. Owing to this, Governments regulations will indirectly promote the automotive carbon thermoplastic market.
Effect Pigments Market Challenges
Pigments Absorbed by Inhalation
Painters cannot inhale pigments when the colors are in the form of pastes such as prepared oil colors or acrylic colors. However, if painters make their own paints, they combine the powdered pigments with an oil or an adhesive. When they use the pigments in the form of dry powders, they should handle them with care so as to avoid raising a great deal of pigment dust. If a large amount of pigment is roughly dumped onto a slab or palette, a considerable amount of color can be observed hanging in the air as the artist works. Such unnecessary dispersion is dangerous, as it can cause the painter to inhale poisonous pigments. Artists working in fresco, egg tempera, and encaustic techniques, all requiring the handling of dry pigments, should be aware of the pigment hazards and should avoid raising the pigment dust unnecessarily during painting or cleanup.
Impact of COVID-19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing pigments materials. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including manufacturing sector have slower down the demand of goods’ production and exports of effect pigments market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Effect Pigments market. In 2019, the market of Effect Pigments has been consolidated by the top five players accounting for xx% of the share. Major players in the Effect Pigments Market are BASF, Merck, Eckart, Schlenk, Silberline, among others.
In January 2020, BASF closed the acquisition of Solvay’s polyamide (PA 6.6) business. The transaction also enhances the company’s access to growth markets in Asia as well as in North and South America.
Asia-Pacific dominates the Effect Pigments market owing to increasing demand from various end use such as Cosmetics, Coatings and Others.
The growing automotive sector, is likely to aid in the market growth of Effect Pigments.
Pigments Absorbed by Inhalation will further create problems for the overall market demand for Effect Pigments during the forecast period.
COVID-19 pandemic will create hurdles for the Effect Pigments market .
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