The
laminar substrate is covered with metal oxides to produce pearlescent pigments.
Both natural as well as synthetic techniques are employed to manufacture
pearlescent pigments. Natural pearl pigments utilize natural mica as a
substrate material. On the other hand, silica, alumina and synthetic mica are
being employed by synthetic pearl pigments as a substrate material.
Although
natural pearlescent pigments cover the largest share in the market as far as
the consumption is concerned but the employment of synthetic pearlescent
pigments is gaining much speed when compared with natural pearlescent pigments.
Other than that, it is said that the manufacturing of synthetic pearlescent
pigment modified for particular end user uses is a more practical process than
manufacturing natural pearl pigments. These pigments are known to have distinctive
optical features and characteristics. They are semi-transparent in nature.
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Prominent
factors that are playing a major role in raising the global pearlescent
pigments market size include rising inclination for aesthetics finishes in
passenger cars and development of the automobile and construction industry. Pearlescent
pigments are extensively utilized in the automotive paints and coatings sector,
which is in turn compelling their demand in the coming future. On the other
hand, strict regulations laid down by the government are anticipated to have a
detrimental effect on the overall growth of the pearlescent market size over
the forecast period.
It has
also been observed that many small and medium-scale enterprises have walked out
from the pearlescent pigment market as they were facing the high costs that were
required in making the regulatory compliances certain. Despite this, it is
noted that the cost of pearlescent pigments is comparatively high in developed
areas of North America and Western Europe when compared to Asia Pacific.
Asia
Pacific has pearlescent pigments available at a much cheaper price, the reason
being low cost of labor and widespread availability of raw materials like
natural mica. Market size on the basis of structure type spans substrate-free,
monolayer and multilayer pearl pigment. Among all the segments, the multilayer
segment has taken over the biggest market share as per the value and it is
likely to continue as the leading segment in the market in the near future.
Market size on the basis of product type spans natural pearl pigment, synthetic
pearl pigment and glass flake pearl pigment.
Among
all, the segment of natural pearl pigment is likely to record for the largest
market share in terms of value in the next couple of years. Market size on the
basis of application spans automotive paints, paints & coatings, personal
care, plastics, printing, and others. Others may include architecture,
decorative paints, home appliances and textiles. Among all the applications,
the segment of automotive paints application has contributed largely as per the
value is concerned.
Market
size on the basis of geographical region spans Asia Pacific Excluding Japan
(APEJ), North America, Latin America, Western Europe, Eastern Europe, and
Middle East & Africa and Japan. As far as the geography is concerned, Western
Europe and North America were considered to be the leading markets for
pearlescent pigment. On the contrary, Asia Pacific Excluding Japan is estimated
to be the most profitable and productive market in the coming future. Major
companies operating in the Pearlescent Pigments Market include CQV, Altana,
EMD, Basf, Sun Chem, Cristal, GEO Tech, Sudarshan, Kuncai, and RIKA.
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