Aluminium Pigments Market to Reach USD 581.9 Million by 2024
A few days ago, TMR published a report on the aluminum pigment market. Among them, the global aluminum pigment market value is 332.9 million US dollars in 2020, and it is expected to reach 581.9 million US dollars by 2024. From 2020 to 2024, the compound annual growth rate will expand to 6.4%.
Aluminium pigments are a special type of pigment that can provide a silver metallic effect. Widely used in paints and coatings, plastics, personal care, printing inks and building materials. The main areas of aluminium pigments are in automotive OEM coatings, automotive interior coatings, wheel coatings, automotive parts and accessories, automotive polishing.
In 2020, paints and coatings was the largest end-use segment for the aluminum pigments market. Over the past few years, the growth of the automotive industry in developing countries and the consumer preference for vehicles with metallic effects have led to an increasing demand for aluminium pigments. Personal care is another lucrative end-use segment for the aluminum pigments market in 2021. Mainly used in personal care products to give them a sparkling effect, such as eye shadow, nail polish, mascara, blush, shampoo, body wash, lotion, cream. Growth in the personal care industry is estimated to propel the aluminum pigments market over the next few years.
In 2020, the Asia-Pacific region is the world's largest consumer market for aluminum pigments. The upward trend in the automotive industry in developing countries has led to an increase in the demand for aluminium pigments in paints and coatings, such as China, India, Singapore, Thailand and Malaysia. In 2024, China will be the largest consumer of aluminum pigments, followed by other countries in the Asia-Pacific region and ASEAN. In 2020, Europe was the second largest consumer of aluminium pigments, followed by North America. The Middle East and Africa and Latin America aluminum pigment markets are expected to be very lucrative in the coming years.