International.
The global pearl pigment market is expected to reach $547.8 million by 2022, according to a new report from Grand View Research, Inc. The growing demand for high-performance, high-gloss paints due to the expansion of the automotive and construction industries in emerging markets is expected to remain a determining factor for the global market.
Titanium dioxide (TiO2) mica coated pigment was the leading segment with a demand share of over 35% in 2014. The high consumption rates of these pigments in the printing, automotive and construction ink industries is expected to drive this segment during the projected period. It is also expected to witness the highest growth of 5.1% from 2015 to 2022.
Paints and coatings was the leading application segment and accounted for 34.1% of the total market volume in 2014. Increasing consumer preference for high-value coatings and colorful iridescence in sports and luxury vehicles can drive market growth. Plastic is expected to witness the highest growth, at 5.1% from 2015 to 2022.
A change of trend towards reducing VOC emissions is also expected and the growing awareness regarding sustainability is also expected to act as a determining factor for the growth of the market. Developed markets will face obstacles in the form of strict regulatory standards, which hinders the growth of the market during the projected period.
