Global Aluminum Pigment Market 2018-2022 | Growing Demand for Aluminum Pigment in Automotive Sector to Boost Demand | Technavio
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Technavio has published a new market research report on the global aluminum pigment market from 2018-2022. (Graphic: Business Wire)
Aluminum pigments with low VOC is one of the major trends being witnessed in the . To reduce air pollution, several governments have implemented stringent regulations, in the global paints and coatings market. The major cause for ozone layer depletion is the VOCs released from these paints and coatings. VOCs are generally released from solvent-based paints. As solvent-based pigments are used more often in paints and coatings, paints and coating manufacturers are facing a huge challenge. The recent innovation of water-based aluminum pigment might be a solution for the VOC emission rate issue.
According to Technavio analysts, one of the key factors contributing to the growth of the global aluminum pigment market is the growing demand for aluminum pigment in automotive sector:
Global aluminum pigment market: Growing demand for aluminum pigment in automotive sector
In the automotive industry, the adoption of aluminum pigments for coatings is driving the demand for aluminum powder. The production of the global automotive industry grew by a CAGR 2.72% from 2014 to 2017, in terms of volume. Increasing consumer demand toward high sparkle finish and intensely chromatic colors on automobile bodies have augmented the demand for aluminum pigments in the automotive industry.
According to a senior analyst at Technavio for research on paints, coatings, and pigments, “Automobile manufacturers also believe that consumer preference has changed from achromatic colors to more chromatic colors. Furthermore, most car designs in recent times are targeting younger consumers which is pushing the demand for colored aluminum pigments.”
Global aluminum pigment market: Segmentation analysis
The global aluminum pigment market research report provides market segmentation by application (paints and coatings, plastics, printing inks, and personal care products), by end-user (hospitals and clinics, ASCs, dialysis centers, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The paints and coatings segment held the largest market share in 2017, accounting for over 42% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of over 44%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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