Global Special Effect Pigments Market - 2021-2028
Global Special Effect Pigments Market Overview
The global special effect pigments market size was worth US$ XX billion in 2020 and is projected to record significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% within the forecast period (2021-2028).
Special effect pigment is a specific material that changes the color of light reflected and spread due to wavelength-selective absorption. The physical process differs depending on the type of luminescence, such as fluorescence, phosphorescence, and so on. Special effect pigments are used in several applications, including jewelry, cosmetics, and coatings, to create unique optical effects.
The selection and orientation of nanoparticles allow for birefringent, pearlescent, and angle-dependent color. Structural color is another class of pigments where the color is obtained through the periodic ordering of nanoscale features, similar to the opalescence of a butterfly wing. It also has magnetic, corrosion-inhibiting, electrical, and electromagnetic properties. The companies use special effect pigment to dye other materials. It's also used in various applications, including paint and coatings, printing inks, plastics, and more.
Special Effect Pigments Dynamics
The growing market of the paints and coating industry and the increasing shift towards the adoption of special effect pigments in these industries boost the growth of the product. Increasing cosmetic industry market share over the past few decades and accepting special pigments in nail paints, eyeshadows, and lipsticks are expected to improve the market share of the product in the coming years.
The growing market of the paints and coating industry and increasing shift towards adoption of special effect pigments in these industries are boosting the growth of the product.
The paints and coatings industry in the world is huge and rising. Paints and coatings had a total market share of nearly 10 billion gallons in 2019. Paints and coatings are used in a broad range of applications. The industry is diverse and complex, ranging from architectural paints and coatings to coatings explicitly designed for ships and spacecraft. Sherwin-Williams, headquartered in the United States, was the largest paints and coatings corporation globally in 2020, with 18 billion dollars. With 13.3 billion dollars in sales that year, another American company, PPG Industries, came in second. Overall, the United States is home to five of the top ten multinational paint and coatings firms. These pigments are in great demand in a wide range of paints & coatings, plastics, printing inks, as these impart properties such as enhanced appearance, excellent glitter, shimmer, shine, and luster to products.
Furthermore, these special effect pigments have given automotive manufacturers a chance to develop their distinctive color effects. They fulfill multiple technical requirements, including the ability to withstand the ravages of weather and UV rays. Thus improving the paints and coating industry accelerates the growth of the special effect pigments market in recent times.
Increasing cosmetic industry market share since the past few decades and acceptance of special pigments in nail paints, eyeshadows, lipsticks is expected to improve the market share of the product in the coming years
The cosmetics industry is still on the lookout for new coloristic effects that visually appeal to customers. Aside from color and effect, the pigments should also have beneficial skin-caring properties and be simple to apply. Special effect pigments, the most important examples of
which are pearlescent pigments and metal effect pigments. Cosmetic pigments are used the most in facial makeup. Foundation, blushers, skin bronzing lotions, creams, powders, loose & pressed powders, and mineral powders are all examples of facial makeup. Foundations are light-colored cosmetics added to the face to give the appearance of a more even skin tone. Titanium dioxide, zinc oxide, and kaolin are the coverage pigments used in facial makeup. These provide a white color that scatters light and brings out the natural color of the skin. These ingredients also have the benefit of being UV-protective. Cosmetic pigments, such as titanium dioxide, are used in facial makeup applications such as foundations, blushers, and powders.
High raw material costs, low-cost imports from developing countries, failure to meet international quality requirements in local manufacturing of special effect pigments are the major challenging factors hampering the growth of the market
Failure to meet international quality requirements in local manufacturing of special effect pigments, high raw material costs, and low-cost imports from developing countries are expected to challenge the growth of the special effect pigment market over the forecast period. Furthermore, in major economies worldwide, such as Canada, the United States, the United Kingdom, France, Germany, Japan, and Italy, dismantled or stagnant defense budgets are used to grow on the special effect pigments market.
COVID-19 Impact Analysis
COVID-19 had a negative effect on the market in 2020. In the event of a pandemic, various paint & coating industries coupled with different cosmetic brands were temporarily halted during the lockdown to prevent the spread of new COVID-19 cases, lowering demand for special effect pigments in the industries. Furthermore, in the 2019-2020 period, there has been a significant drop in customer buying behavior is seen. The customer is not investing in buying expensive cosmetic products in the covid period.
Special Effect Pigments Market Segment Analysis
The global special effect pigments market is segmented based on effect, type, application, and region.
The increasing inclination on renewable sources for energy generation leads to an increase in the consumption of PVB interlayers in the photovoltaic segment is projected to grow during the forecast period
The global special effect pigments market is segmented into metallic, pearlescent, and others in terms of type. The pearlescent segment is growing at the fastest rate in recent times as compared to other segments. Pearlescent pigments are made up of metal oxide coats on synthetic mica platelets or artificial glass substrates. Individual plates that serve as tiny mirrors are lined up to create these. These pigments have a lot of shine, are very bright, and have a lot of coverage. They also have a lot of optical effects. The high demand for effects such as fine-grained luster and silvery-white sparkle, which can be achieved with pearlescent pigments, is expected to drive the market for pearlescent pigments to rise. These are commonly used in the beauty industry for various applications, including skin care, hair care, eyeshadows, nail polish, and make-up.
Special Effect Pigments Market Geographical Analysis
The Asia-Pacific region has the world's largest producers of special effect pigments owing to the presence of global players in the region and the improving construction sector
During the forecast era, the Asia-Pacific region is projected to dominate the market for special effect pigments. The market for special effect pigments has grown due to increased demand from China, India, and Japan. The Asia-Pacific region has the world's largest producers of special effect pigments. BASF Colors & Effects GmbH, Merck KGaA, Silberline Manufacturing Co., Inc, Sun Chemical, and Shepherd Color are some of the leading manufacturers of special effect pigments.
Under the smart cities program, the Indian government declared a USD 31,650 billion investment to develop 100 cities in 2018. Over the next five years, 100 smart cities and 500 cities are expected to attract investments worth USD 28.18 billion. Thus, improving the construction sector and adopting the smart cities program is expected to build the region's market in the forecast period.
Special Effect Pigments Market Competitive Landscape
The special effect pigments market is highly fragmented with the presence of local as well as global key players. Some of the key players contributing to the market's growth include Huntsman International LLC, Altana AG, Merck KGaA, BASF SE, Clariant, Sudarshan Chemical Industries Limited, DIC Corporation, GEOTECH, Du Pont, DayGlo Color Corp and among others.
The major players adopt several growth strategies such as product launches, acquisitions and collaborations, contributing to the special effect pigments market's growth globally. The key manufacturers are following expansion and collaboration as the key strategy to build revenue for the company.
Overview: Merck is a growing science and technology company, operates across different domains such as life science, healthcare, and performance materials. Nearly 57,000 employees work in the company to make a positive difference in millions of people's lives. The is focusing on advancing gene-editing technologies coupled with discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices
Timiron: Silverwhite and interference pigments from the Timiron® family give refinement to practically any composition. The pigments can be used to create a pearlescent dimension to cosmetics or personal care items.
The global special effect pigments market report would provide access to an approx: 61 market data table, 54 figures and 240 pages.
Target Audience 2022
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