Global Pearlescent Pigment Market

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

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Report ID: 1613 | Published On: Apr 07, 2022

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News


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. 

Paints and coatings market Graph

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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.


Paints and coatings market Graph
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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


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