Published on : May 12, 2016
Visual appeal has always been playing a key roles in the demand and sales for products. Better aesthetics create an enhanced appeal to the eyes of the costumers and also results in the sale of products at higher rates. Enhanced visuals can also give an appearance of product quality. Visuals affect the choice of individuals and can result in a greater count of sales. The global market for metallic pigments stood at US$736.20 mn in 2014 and is predicted to reach US$1.2 bn by 2023, by rising at a 6.40% CAGR from 2015 to 2023.
The key application areas of metallic pigments have been elaborated upon as under:
- Paints in Automobiles of Utmost Significance: Paints as well as other characteristics are of utmost importance when it comes to the type of consumer a car company wants to attract. By the consumer point of view, the right paint can make a choice in the type of car h/she purchases. Thus, there are increasing activities of research and development going on in order to innovate and study car paint pigments such as metallic pigments. The high-quality metallic pigments involve a lot of engineering and a number of characteristics are considered for defining the numerous paint qualities such as the level of noise, fluctuations in lightness, paint’s scaling properties, and flake orientation. All of these properties aid the engineers innovate and define the upcoming paint textures.
- Employed in Architecture Industries: Metallic pigments, apart from their usage in increasing the visual appearance of things, also impart a number of other key qualities to numerous products. Some of these qualities include corrosion resistance, which is a chief reason why metallic pigments are also employed in marine and architecture coatings. Axalta Coatings Systems is a major player in the market owing to the introduction of AR400 Anodic Natura Powder Coating, utilized for both automotive and architecture industries. This company’s key target was to develop a pigment that will make a surface look as if it is anodized aluminum and will also outperform it. A lot of similar innovations in the market are predicted to bolster the market in the coming years.
Carl Schlenk AG, BASF AG, Silberline Manufacturing Co., Sun Chemical Corporation, and Asahi Kasei Corporation, among others are amongst the other top players operating in the global metallic pigments market.