Aluminum Pigments Market: Rising Demand in Automobile Industry to Bolster Market Growth to Reach Valuation US$ 581 Million in Year 2024, Says TMR

ALBANY, New York, January 23, 2018 /PRNewswire/ --

Some of the key market sellers in the aluminum pigments market are Carl Schlenk, Carlfors Bruk, Silberline, ECKART Effect Pigments, and Toyal. The worldwide aluminum industry is confronting firm competition from China, which was the biggest market and the biggest exporter of aluminum in year 2016. The most elevated utilization of aluminum pigments among the plastics, paints and coatings, and personal care sectors gives a high development potential for the market players. Asia Pacific has a high centralization of client base, where the key sellers represent the major amount of share in the market. The market shows stringent growth hindrances to new participants due to the increased office foundation costs, the high trust value, and soaring cost of raw materials and machinery accomplished by key merchants. Huge troubles during the time of innovation and device evaluation could likewise show an obstruction for new organizations in the worldwide aluminum pigments market.

According to a report by Transparency Market Research, the worldwide aluminum pigments market is prognosticated to experience a strong CAGR of 6.4%, based on revenue, within the forecast period from 2016 to 2024, ascending from a value worth US$ 332 mn in year 2015 to US$ 581 mn in year 2024. As far as volume is concerned, the market had a value of worth 46 kilotons in year 2015. Latin America and Asia Pacific are presently demonstrating a high rate of industrial advancement. China particularly is demonstrating a potential market for aluminum pigments inferable from its quickly developing consumption and production rate of vehicles.

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Increase in Disposable Income to play Important Part in Global Demand 

One of the key variables pushing the market for aluminum pigments over the globe is their rising interest over the automobile enterprises and paints and coatings. The flourishing automobile sector, particularly across the developing economies in regions, for example, Asia Pacific, is growing regarding consumer base and additionally the foundation of assembling and manufacturing offices. As the economies are getting stronger, along with rising disposable wages, and growth in purchase of public and commercial vehicles, various automobile companies are coordinating their business expansion exercises towards these regions. The resultantly growing automobile industry in these region is anticipated to give gigantic development chances to the market for aluminum pigments in coming years.

Aside from the utilization of aluminum pigments in protective paints for vehicles, the growing demand from customers for an ale pack of color choices in vehicles is additionally adding to the expanded interest for aluminum pigments in the automobile business. The pattern is foreseen to stay solid throughout the following couple of years and improvement of the automobile business will keep on holding a key position in worldwide aluminum pigments market. The growing focus over the improvement of nature-friendly coatings and paints will likewise remain a key factor in obstruction of trading ideas presented in the market within coming years.

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Inclination towards Nanotechnology to Support Overall Market Growth of Aluminum Pigments 

Aluminum pigments are made of aluminum flakes, powders, and glue. They demonstrate colors since they reflect and absorb diverse wavelengths of light. With the quick increment in construction businesses for the development of infrastructure and non-residential and residential assignments, the interest for aluminum powder will rise, which, is anticipated to expand the demand for aluminum pigments within the gauge time frame. The expanding shift towards nanotechnology has prompted the broad utilization of aluminum nanoparticle in an extensive variety of uses. For example, aluminum nanoparticles are utilized as a part of rocket fuels to build the ignition procedure because of their reactant traits. A portion of the other significant application regions of aluminum nanoparticle pigments are in wear resistant additives, material surface coatings, nanocomposites, and integrated circuit packaging.

The study presented here is based on a report by Transparency Market Research (TMR), titled, "Aluminum Pigments Market (End-user - Paints & Coatings, Plastics, Personal Care, Printing Inks) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

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The global aluminum pigments market has been segmented as follows:

Aluminum Pigments Market - End-user Analysis 

• Paints & Coatings
• Plastics
• Personal Care
• Printing Inks
• Others (Including Construction Materials, etc.) 

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SOURCE Transparency Market Research