Pearlescent Pigment Market: Global Industry Analysis and Forecast (2023-2029)

Pearlescent Pigment Market size was valued at US$ 1.17 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 4.3% from 2023 to 2029, reaching nearly US$ 1.58 Bn.
Pearlescent Pigment Market Overview:
Market is expected to reach US$ 1.58 Bn. by 2029. Coated mica platelets known as pearlescent pigments add colour and captivating visual effects to a variety of coatings, polymers, and printing inks. These translucent lustre pigments reflect light due to their flat surfaces. This report focuses on the different segments of the market (Type, End-Use Industry, and Region). The leading industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advances in a variety of sectors. The primary data analysis from 2018 to 2022 is demonstrated through facts and figures, visualisations, and presentations. The market drivers, restraints, opportunities, and challenges for Pearlescent Pigment are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the market.

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COVID-19 Impact on the Pearlescent Pigment Market:

The Covid-19 Pandemic caused a decline in output for the market for pearlescent pigments, but the demand was unaffected. However, the pandemic had an adverse effect on its end-use industries, including the Paints & Coatings Industry, which has the largest stake. As the demand and production for passenger vehicles declined, it had a significant impact on applications like automotive paint. The production of passenger automobiles fell by 16.9% between 2018 and 2022, according to Organisation Internationale des Constructeurs d'Automobiles (OICA). Similar declines in output and sales were observed in the food and beverage industry, personal care and cosmetics, and both from 2022 to 2029. The market experienced a fall in 2022 as a result of these declines in the End-Use Industry.
Pearlescent Pigment Market Dynamics:
The market has been driven largely by advancements in the technology of pearlescent pigment, which is expected to be a major market driver. The thermal stability, durability, and barrier resistance of pearlescent pigments have all improved significantly. Due to increased concerns about toxicological and risks, many markets now choose pearlescent pigments over pigments made of lead compounds. They also have lower volatile organic compound (VOC) content, are more sustainable, and perform better than their counterparts.

Growing Demand for Passenger Vehicles in Asia Pacific

The market for pearlescent pigments is increasing as a result of the rising demand for passenger vehicles in APAC. Due to its luster and gloss, Pearlescent Paints are used extensively in the automotive industry, which is one of their main applications. Some of the major areas where can see an increase in demand for the automotive industry include China, Japan, and India. The Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that a total of 29.8 million passenger vehicles were built in these nations, or 53.4% of all the cars made globally. This demonstrates to be one of the key factors promoting market growth.

Reduced demand for pearlescent pigment in the building and construction sector as a result of the industry's decline

Since the Covid-19 Pandemic began, there has been a decrease in the construction industry as numerous projects have been stopped or abandoned and far fewer new ones have been approved. The Associated General Contractors of America (AGC) reported that a survey conducted in May 2021 revealed that 67 percent of American construction companies have cancelled or postponed their projects ever since the Pandemic began. Building and constructions are one of the key end-use industries for pearlescent pigments, hence the market for such pigments also suffered as a result of the decline.
Pearlescent Pigment Market Segment Analysis:
The Pearlescent Pigment Market is segmented by Type, and End-Use Industry.

Based on the Type, the market is segmented into Natural Pearlescence, Titanium-dioxide coated Mica, Ferric-oxide coated Mica, and others. Titanium-dioxide coated Mica segment is expected to hold the largest market share of xx% by 2029. Because of its characteristics, such as being a poor conductor of electricity and heat, titanium dioxide-based mica is quite popular with market leaders. It is appropriate for both industrial coatings and automotive paints due to these factors. It is also significantly greener and safer. The business also makes extensive use of mica pearlescent pigments based on ferric oxide. Natural mica is effectively sandwiched between layers of metal oxides and coated with them, giving metal oxide-based mica pigments their lustrous appearance due to the metal oxide layer's different reflecting and refracting qualities.

Based on the End-Use Industry, the market is segmented into Paint & Coatings Industry, Food & Beverage Industry, Personal Care & Cosmetics Industry, Building & Construction, and others. Paint & Coatings Industry segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The architectural coatings, industrial coatings, and special purpose coatings diversify the paints and coatings sector further. These latter segments include marine paints, automobile coatings, military-specific coatings, and so on. The U.S. Paints & Coatings Industry is valued $26 billion USD, with California contributing for $2.4 billion of it, according to the American Coatings Association. Additionally, they claimed that the Paints & Coatings Industry had increased from the prior year.
Pearlescent Pigment Market Regional Insights:
Asia Pacific region is expected to dominate the Pearlescent Pigment Market during the forecast period 2023-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. The demand for automotive paints has increased, which is the major factor of this. The top four manufacturers of passenger cars globally are China, Japan, India, and South Korea. This raises the demand for pearlescent pigments, which are used to give cars, especially luxury and premium models, a metallic, chrome, and gloss look. According to the Organisation Internationale des Constructeurs d'Automobiles, a total of 29.8 million passenger vehicles were produced in these nations, making up 53.4% of all passenger vehicles global production. According to the American Coatings Association, China held a 60 percent share of the Paints & Coatings market in APAC in 2022, followed by India with an 18 percent share. The Paints & Coatings Industry generated $74.2 billion in revenue in 2022. Due to these factors, Asia-Pacific is the region that consumes the most pearlescent pigment.

The objective of the report is to present a comprehensive analysis of the Global Pearlescent Pigment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Pearlescent Pigment Market dynamic and structure by analyzing the market segments and projecting the Global Pearlescent Pigment Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Pearlescent Pigment Market make the report investor’s guide.
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Pearlescent Pigment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.17 Bn.


Forecast Period 2023 to 2029 CAGR:
4.3%
Market Size in 2029:
US $ 1.58 Bn.


 Segments Covered:
by Type
Natural Pearlescence
Titanium-dioxide coated Mica
Ferric-oxide coated Mica
others


by End-Use Industry
Paint & Coatings Industry
Food & Beverage Industry
Personal Care & Cosmetics Industry
Building & Construction
others



Pearlescent Pigment Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Pearlescent Pigment Market Key Players:
1. Brenntag Specialties Inc.
2. Nanyang Lingbao Pearl Pigment Co. Ltd
3. RIKA Technology Co. Ltd
4. Lansco Colors
5. BASF SE
6. Pritty Pearlescent Pigments
7. Smarol Technology
8. Geotech International B.V
9. L’Arca Srl [Arca Colours]
10. Huaian Concord Industrial Product Co. Ltd.
11. CHESIR
12. ALTANA AG
13. Cristal
14. Kuncai Americas LLC
15. Merck KGaA
16. Nihon Koken Kogyo Co., Ltd.
17. Oxen Special Chemicals Co., Ltd.
18. Sinoparst Science and Technology Co., Ltd.
19. Sudarshan Chemical Industries Ltd.
20. Sun Chemical Corporation

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Pearlescent Pigment Market?
Ans. Asia Pacific region is expected to hold the highest share in the Pearlescent Pigment Market.

2] Who are the top key players in the Pearlescent Pigment Market?
Ans. Brenntag Specialties Inc., Nanyang Lingbao Pearl Pigment Co. Ltd, RIKA Technology Co. Ltd, Lansco Colors, BASF SE, and Pritty Pearlescent Pigments are the top key players in the Pearlescent Pigment Market.

3] Which segment is expected to hold the largest market share in the Pearlescent Pigment Market by 2029?
Ans. Titanium-dioxide coated Mica segment is expected to hold the largest market share in the Pearlescent Pigment Market by 2029.

4] What is the market size of the Pearlescent Pigment Market by 2029?
Ans. The market size of the Pearlescent Pigment Market is expected to reach US $1.58 Bn. by 2029.

5] What was the market size of the Pearlescent Pigment Market in 2022?
Ans. The market size of the Pearlescent Pigment Market was worth US $1.17 Bn. in 2022.