Titanium dioxide (TiO2) coated mica pigment was the leading product segment with demand share exceeding 35% in 2014. High consumption rates of these pigments across automotive, construction and printing ink industries is expected to drive this segment over the forecast period. It is also expected to witness the highest growth of 5.1% from 2015 to 2022.
Iron/ferric oxide mica pigment is also expected to witness brisk growth owing to its high refractive index, metallic luster, excellent hiding properties and weather resistance. Increasing application in the cosmetics and printing inks sector is a major driving force for the product.
Further key findings from the report suggest:
Global pearlescent pigment market demand was 74.8 kilo tons in 2014 and is expected to reach 100.7 kilo tons by 2022, growing at a CAGR of 4.6% from 2015 to 2022Paints & coatings was the leading application segment and accounted for 34.1% of total market volume in 2014. Increasing consumer preference for high-value coatings and colorful iridescence on sports and luxury vehicles is likely to foster market growth. Plastic is expected to witness the highest growth of 5.1% from 2015 to 2022.North America was the leading regional market with demand share estimated at 38.2% in 2014. Recovery of construction and automotive industry in the U.S. is expected to drive the regional growth.Asia Pacific is expected to witness the highest growth of 5.1% from 2015 to 2022. Rapid industrialization and expansion of major end-use industries such as automotive and construction particularly in China and India is expected to drive the regional growth.
Global pearlescent pigment industry is fragmented with presence of several major multinationals and smaller regional players across the globe. Key participants operating in the industry include BASF SA, Sun Chemical Performance Pigments, Huaian Concord Industrial Products Co. Ltd., Lansco Colors, L'Arca Srl., Fujian Kuncai Fine Chemicals Co. Ltd., RIKA Technology Co. Ltd and Smarol Technology Co. Ltd.
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