Aluminum Pigments Market Size

Aluminum Pigments Market size

Aluminum Pigments Market size was estimated over USD 350 million in 2016 and will likely be gaining the industry by a CAGR close to 6.5%.

Increasing demand for aesthetically superior automobiles with lustrous paint will significantly enhance the global aluminum pigments market in the forecast years. Increasing demand for family cars, especially in the Asia Pacific countries such as China, Japan, South Korea, and India, on the account of their rapid economic development will have a positive influence on market growth. Passenger car sales crossed 35 million units in 2016, with China accounting for more than 24 million units. Several leading automotive manufacturers have shifted their production facilities towards this region in order to meet the expanding demand. Increasing product application in automotive OEM parts, exterior and interior coatings, as well as refinishing and repair works will be important driver for the global aluminum pigments market.

Packaging problems owing to the combustible nature of the product may pose hindrances to the overall aluminum pigments market in coming years. Product mixture with air are flammable and may result in disastrous dust explosions. Moreover, contact with acid, alkali, or even water for a long duration may form highly ignitable hydrogen. Requirement of specifically designed fire-resistant storage spaces and strict packaging techniques may threaten the market. This may even lead to usage of alternatives such as silver or stainless steel pigments in the cosmetics and paints and coatings industry.