International.
Transparency Market Research has forecast that the global metal pigments market will exhibit a CAGR of 6.4% between 2015 and 2023. The market stood at a valuation of US$736.2 million and is projected to be worth US$1.2 billion by the end of 2023.
Among the various end users, the paints and coatings industry is expected to show the maximum contribution to the market revenue. Regionally, Asia Pacific held the dominant share of 30% in the global metal pigments market in 2015.
The global metal pigments market is driven by the increasing demand for industrial coatings, marine coatings, and aerospace coatings. As the consumption of metallic pigments in printing inks and the manufacture of plastic components increases, it will subsequently create lucrative prospects for the market. By the end of 2023, the market is projected to exhibit robust growth.
Growing opportunities in Latin America will also boost the market. Other developing countries such as Brazil also have strong potential for market growth. Thus, it is evident that the industrialization and urbanization witnessed in emerging nations have been a major driver of the global metal pigments market.
