Special Effect Pigments Market Size Forecast to Reach $1030.53 Million by 2025

Aug 10, 2020 (The Expresswire) -- Special Effect Pigments Market size is forecast to reach $1030.53 Million by 2025, after growing at a CAGR of 5.5% during 2020-2025. In recent years, the demand for special effect pigment has seen strong growth, and this growth is expected to continue over the next few years. Special effect pigments are used in wide variety, such as lacquers and coatings, paints, printing inks, cosmetics and other applications are used as they deliver to good properties like enhanced beauty, excellent shimmering, glitter, and luster. Further, increases the growth of the special effect pigments industry.

Product Type - Segment Analysis

Pearlescent Pigments segment has been the primary market for Bulletproof Glass for many years. Because they are borehole pigments or impact pigments inert, nonreactive, and heat-and-alkaline resistant as they are today they are a limitless variety of uses. This consists of different, slender, white, transparent plates covered by a mixture of iron oxide, titanium dioxide. Mica powder is a natural stone mineral with shiny flakes. Only a part of their beam is expressed in each crystal and the rest is moved into the following crystal. This simulcast reflection of light in so many different layers is the product of their "pearlescence" or pearl pigment.

Application - Segment Analysis

Paints and Coatings segment has been the primary market for Bulletproof Glass for many years at a CAGR of 5.2%. Special effects pigments include unique visual effects for a range of uses, including paints and coatings. They are employed in the improvement of feel, luminosity, gold, silver, chrome and other metallic effects. The rising construction and buildings sector is due to the increasing use of special pigments in paints and lacquers. In addition to the designs and lacquers for the construction industry, these special effect pigments are applied by manufacturers to enhance the properties of lacquers and their appearance. The prediction is that around 27,000 50,000 new homes will be built in the United Kingdom by 2022 which will also expand the reach of the market. The growing demand for protective paints and coatings also increases the use of special effect pigments in industrial segments. The demand for special effect pigments is therefore forecast to increase over the forecast period, owing to the application of paints and coatings in buildings and constructions, particularly in Asia-Pacific and North American countries.

Geography - Segment Analysis

APAC dominated the Special Effect Pigments Market share with more than 43%, followed by North America and Europe. The market for special-effect pigments has increased due to the strong demand from countries such as China, India and Japan. Asia-Pacific is the main producer of special effect pigments. BASF Colors and Effects GmbH, Merck KGaA, SILBERLINE MANUFACTURING CO., INC, Sun Chemical and Shepherd Color are some of the world's leading companies in developing pigments that produce special effects. The government announced an investment of USD 31,650 billion under the Smart Cities Programme for the development of 100 cities in 2018. In the next five years, 100 smart urban centers and 500 towns ($28.18 billion) will likely be attracting investment worth INR 2 trillion. Over the next 10 years, the Chinese government has built ambitious building plans that involve the influx of 250 million people into the new megacities and thus widened the demand for special effect pigments in the next ten years. Such special effect pigments in cosmetics, inks, plastics and other applications are diversification apart from paints and coatings. The above factors, together with the help of government, lead to a growing demand during the forecast period for special effect pigments.

Drivers Special Effect Pigments Market

There is increase in demand for personal care and cosmetics industries is expected to be driving the market growth

The growth in the market in the next five years will be driven by the growing adoption of special effect pigments in the cosmetic industry in nail paints, eyewear and lipstick combined with the rising popularity of bio based special-effect pigments. Due to its widely-used applications, such as cosmetics and paints, the pearlescent pigment segment is expected to rise at the highest CAGR during the forecast era. Due to the huge demand for special effect pigments, such as nail polishes, metallic lipsticks and eye shadows, the segment of cosmetics and personal care is forecast to rise at the highest CAGR by 2023, based on applications. In the next five years, the market is expected to dominate Asia-Pacific as special effect pigments are used extensively in packaging, cosmetics and household products in constituent countries such as China and India.

Challenges Special Effect Pigments Market

There is variability in raw material prices is expected to act as a restraint to the market growth

Factors expected to hinder the growth of the special effect pigment market over a period of forecast are the failure to meet local manufacturing special effect pigments to international quality specifications, the high prices of raw materials and low-cost imports from developing countries. Dismantled or stagnant defense budgets are relied upon as restrictions for development on the special effect pigments market in significant economies in the world which include Canada, the USA, the United Kingdom, France, Germany, Japan and Italy.

Market Landscape

Technology launches, acquisitions and RandD activities are key strategies adopted by players in the Special Effect Pigments Market. Major players in the Special Effect Pigments Market are Merck, Sun Chemical, GBC Speciality Chemicals, RPM International Inc., Clariant, BASF SE, Brilliant Group, Inc., Zhejiang Coloray Technology Development Co. Ltd., Glassflake Ltd, Toyal Group, QCR Solutions Corp, Yipin Pigments Inc., LCR Hallcrest, Matsui International Co. Inc., Olikrom, and United Mineral and Chemical Corporation, among others.

Key Takeaways

Special effect pigment are synthetic pigments or natural pigments with iridescent colors, heavy glistening, and optically thin films. Their visual imprints originate from a single or several layer refraction and refraction of light. Eye catches and responds to heat or light are special effect pigments to produce a wide variety of visual effects.

Due to COVID-19 palindrome, technology vendors are likely to pause on launching new products. Vendors will take time to change their strategy for product releases in China, and this is likely to reduce the usage of special effect pigments by 2020-2021.

Thermochromic ink are heat-sensitive. They change color when cooled or heated and are applied in aeronautics, construction, food and beverages, packaging and printing, textiles, and novelties. This segment is projected to expand rapidly due its wide applications.