Pearlescent Pigment Market Segmentation By Product Type (Natural Pearl Essence, Titanium Dioxide Mica, Ferric Oxide Mica and Others); By Application (Paints & Coatings, Plastics, Printing Inks, Cosmetics, Construction Materials and Others)- Global Demand Analysis & Opportunity Outlook 2027

Introduction to Pearlescent Pigment

Pearlescent pigments are used in a wide array of applications and are generally produced by the deposition of titanium dioxide (TiO₂) on mica platelets or artificial glass substrates with titanium as a precursor. Several other metal oxides can also be used instead of TiO₂ such as, iron oxide, zirconium oxide, and chromium oxide. The layered structure of these pigments enable the light to reflect at different levels. Thus, the reflected waves interfere with each other which causes amplification in order to provide brilliant sparkling effect. These pigments achieve their unique color depending upon the structure of layers and are obtained by the interference of light reflecting from multiple surfaces. Pearlescent pigments aid the stimulation of the inherent gleam and luster of natural pearls. These also provide excellent radiance and shine along with innate functionalities. One of the most commonly used pearlescent pigment is oxide-coated micas, which includes synthetic mica.

Market Size and Forecast

The market is estimated to witness a substantial growth on the back of extensive applications of these pigments in coatings, personal care products, packaging plastics, inks, automotive, and others. These pigments are used to provide a soft shine, a satin luster or a metallic appearance to the materials. Additionally, these pigments improve the lustrous appearance of the product as they are naturally coated with titanium dioxide and mica flakes. Such superior chemical properties of these pigments is projected to positively impact the growth of the market pertaining to its applications.

The pearlescent pigment market is anticipated to record a CAGR of around 4% over the forecast period i.e. 2019-2027. The market is segmented by application into paints & coatings, plastics, printing inks, cosmetics, construction materials and others, out of which, the paints & coatings segment is anticipated to observe the fastest growth over the forecast period. This can be attributed to the rising applications of these pigments in automotive paints. Over the recent years, automotive colors have become an important aspect of the car design as the car buyers tend to prefer the automotive coatings with high chroma shades based on visual impacts of the pearlescent pigments. In addition, these pigments provide the key physical attributes such as, color strength, coverage, durability, chemical inertness, light and weather fastness as well as better environmental performance. Moreover, anticorrosive nature of a few pigments makes them ideal for automotive or industrial coatings. 

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Growth Drivers

Application in Paints & Coatings Industry

Pearlescent pigments possess physical stability and can be used in water-based, solvent-based and powder coatings which is anticipated to foster the growth of the market.  The global paints & coatings industry has witnessed higher revenue generation from architectural, industrial, and automotive coatings.

As per the American Chemical Society (ACS), the architectural paints & coatings segment accounted for approximately 23 billion liters. Increased construction activities have resulted in increased utilization of paints and coatings, which in turn have led to increased growth of the pearlescent pigment market. The pigments are incorporated into the lacquer or clear powder coatings in a proportioned amount which creates a particular effect.

Emerging Application of Pigments in Cosmetics and Other Consumer Good Markets

Pearlescent pigments are a minor component in cosmetics and toiletries. The purpose of these pigments is to make the cosmetic products appealing to the consumer. Moreover, these pigments are of crucial importance in the cosmetic products as they complement natural skin tones and enhance the appearance of facial features, fingers and toenails.

One of the recent developments focuses on the use of alternatives to mica in the pearlescent pigments, such as use of platelet-like graphite, laminar phthalocyanines, flaky iron oxides, and silica flakes. A color flop which is of extreme importance in thin film security printing is displayed by PVD-based pigments.

Restraints

Steady Increase in Prices of Titanium Dioxide (TiO2)

Titanium oxide is an important inorganic chemical precursor used in the manufacturing of pearlescent pigments due to its versatility, density and opacity properties. However, steady increase in the prices of TiO₂ which has led to increase in its demand is anticipated to be a major restraining factor concerning the growth of the market. The high price of TiO₂ can be attributed to uniqueness of the product and new developments being introduced in the compound.

Although, TiO₂ is an inert and safe chemical and used in variety of applications, its nanoparticles are estimated to cause several adverse effects via induction of oxidative stress resulting in cell damage, genotoxicity, inflammation, immune response and others in human beings. Such factors are also projected to negatively impact the market growth.

Market Segmentation

Our-in depth analysis of the pearlescent pigments market includes the following segments:

By Product Type

• Natural Pearl Essence
• Titanium Dioxide Mica
• Ferric Oxide Mica
•  Others

By Application

• Paints & Coatings
• Plastics
• Printing Inks
• Cosmetics
• Construction Materials
• Others

By Region

On the basis of region, the pearlescent pigment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

The market in North America is anticipated to witness a noteworthy growth over the forecast period. This can be attributed to rise in number of end-use industries along with broad range of applications of these pigments in automotive sector in the region.

Asia Pacific market is also expected to show a considerable growth owing to increasing consumer awareness and consciousness regarding the appearance of the various products such as, cosmetics and paints. Rise in personal disposable income has resulted in wider consumer base for the consumption of paints & coatings in tandem with the other major application factors, which in turn is expected to drive the market growth.

The pearlescent pigment market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market

• BASF SE
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• Huaian Concord Industrial Product Co. Ltd.
• Sun Chemical
• Lansco Colors
• Kuncai
• L’Arca Srl
• Geotech
• RIKA Technology Co., Ltd
• Pritty Pearlescent Pigments Co., Ltd.
• Brenntag Specialties, Inc. 
• Lingbao Pearlescent Pigment Co. Ltd.
• Other Prominent Players