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Pearlescent Pigments Market Size
Pearlescent Pigments Market will register significant growth between 2024 and 2032 due to the influx of product launches by major industry players. Leading companies continuously introduce innovative pearlescent pigment formulations, catering to diverse applications across cosmetics, automotive coatings, and printing inks.
For instance, in March 2022, Geotech introduced Geopearl SFT Pearlescent Pigments and Geonature Biodegradable Glitter at in-cosmetics Global. Geopearl SFT offered coarse synthetic pearlescent pigments with a narrow particle size distribution, achieving a traditional glitter effect using the company's SFT technology. These pigments boast up to 98% of particles <150 microns, facilitating safe eye product formulations with eco-friendly sparkling effects. Suitable for aerosol applications, research confirms the particles' compatibility with spray can nozzles.
These launches help expand product portfolios while meeting evolving consumer preferences for vibrant and lustrous finishes. As competition intensifies, companies strive to maintain market relevance by offering cutting-edge pearlescent pigments, driving sustained growth in response to heightened demand.
The Pearlescent Pigments market experiences heightened demand, with an increasing number of companies venturing into the pigment business. As more enterprises recognize the potential in this sector, competition intensifies, driving innovation and product diversification. With a growing consumer preference for vibrant and iridescent finishes across various industries like cosmetics, automotive, and printing, the demand for pearlescent pigments continues to surge. This influx of new players helps expand market offerings while fostering dynamic growth opportunities, shaping the future of the pearlescent pigment industry.
For instance, in March 2022, Merck KGaA, a German diversified group, enlisted Goldman Sachs to reinitiate the $1 billion sale of its pigments division, Surface Solutions, following previous unsuccessful attempts due to the pandemic. Austrian competitor Heubach, owned by SK Capital Partners, reportedly showed interest in the business, which specializes in producing pigments for coatings, plastics, and cosmetics, potentially valuing it at around 1 billion euros ($1.03 billion).
The Pearlescent Pigments Industry encounters notable restraints despite its steady growth. Regulatory restrictions on certain pigments, particularly those containing heavy metals, pose challenges to market expansion. Additionally, environmental concerns surrounding the disposal of pearlescent pigments and their impact on ecosystems hinder market penetration. Moreover, fluctuating raw material prices and supply chain disruptions can affect production costs and availability, restraining market growth. These factors necessitate ongoing innovation and sustainable practices within the industry to address and mitigate these constraints effectively.
Pearlescent Pigments Market Trends
Rising sustainable efforts are reshaping the Pearlescent Pigments Industry trends. With increasing awareness of environmental concerns, there's a growing demand for eco-friendly and biodegradable pigments. Manufacturers are investing in research and development to formulate pearlescent pigments using sustainable materials and production processes. Moreover, consumers are inclined toward products with minimal environmental impact, driving the adoption of sustainable pigments in various industries such as cosmetics, automotive coatings, and packaging. This shift towards sustainability will drive innovation and influence market dynamics in the pearlescent pigments industry.
Citing an instance, in October 2021, Sun Chemical reaffirmed its dedication to sustainable textile printing with the introduction of Xennia Pearl Pigment Inks. Unveiled at Innovate 2021 Textile Innovation Week, these inks catered to high-speed industrial applications. Developed after meticulous market analysis and customer feedback, they met demands for superior fastness, color consistency, multi-substrate compatibility, and exceptional print quality. Beyond performance, the range underscored Sun Chemical's sustainability commitment in the textiles sector, providing printers with a means to reduce water consumption and chemical waste substantially.
Pearlescent Pigments Market Analysis
Based on the product, the pearlescent pigments market is segmented into titanium-coated mica, natural pearls, ferric oxide-coated mica, and combination mica. Other chemical-coated products are basic lead carbonate and bismuth oxychloride. Titanium dioxide coated with mica is the prominent product segment with a substantial share in terms of volume. An increase in consumption of this product across various industries, including printing ink, construction, and automotive, will propel the pearlescent pigments Industry.
Multiple applications of the pearlescent pigments market is divided into automotive paints, decorative paints in toys & textiles, and plastics. Automotive paint application contributes majorly in terms of value owing to inclined consumer preference for high-value coatings and high-luster paints on luxury and sports cars. These applications are about varied end-use industries such as paints & coatings, cosmetics, and construction. Paints & coatings contribute a major chunk in terms of volume. An upsurge in demand for these products in food packaging, plastic, and cosmetic products is likely to drive the pearlescent pigments Industry shortly.
North America pearlescent pigments market is dominated by the U.S. Rising popularity of luxury and sports vehicles with high-performance coatings has boosted the product demand in the regional automotive sector. The U.S. environmental policy has banned the use of dyes that are harmful to the environment as well as humans. This has increased the pigments demand as they are eco-friendly due to low VOC emissions. Europe, led by Germany and Italy, is the leading pearlescent pigments Industry owing to the well-established automotive sector. Improving economic conditions in the region is likely to foster the product market. These pigments are preferred over other products due to their low content of heavy metals, including lead, chromium, mercury, and cadmium, making them less toxic and non-hazardous. Technological innovations and increases in the automobile and construction industry will accelerate the pearlescent pigments Industry in several years.
China, India, and Vietnam have driven the Asia Pacific pearlescent pigments market due to the rise in purchasing power of consumers. Ever increasing population in China and India has increased the need for automobiles, which, in turn, has a positive effect on the product market. Increased awareness regarding beauty and appearances in consumers has made a significant impact on cosmetic industries, thus promoting its application scope. Upsurge in automobile manufacturing companies in emerging economies, including Japan and South Korea, will reinforce product usage between 2024 and 2032.
Pearlescent Pigments Market Share
Major companies operating in the pearlescent pigments industry competitive landscape include:
- BASF SE
- ALTANA AG
- Sudarshan Chemical Industries
- CRISTAL
- DIC
- Merck KgaA
- Fujian Kuncai Material Technology
Other prominent formulators include Spectra Colours Ltd., Zhejiang Ruicheng, Oxen Special Chemicals Co., kolorjet Chemicals, Aal Chemicals, and Lansco Colours Ltd.
Pearlescent Pigments Industry News
In June 2023, reports suggested that global New Material International Holdings Ltd., a colorant producer based in China, was considering the acquisition of Merck KGaA's pigments division. The Hong Kong-listed company, known for selling pigments under the Chesir brand, reportedly submitted a binding bid for the Merck unit. Discussions regarding financing options for the potential acquisition are underway. The deal could potentially value the pigments business at around €1 billion ($1.1 billion).