International. The size of the aluminum pigments market will likely exceed $580 million by 2024, according to a new research report from Global Market Insights, Inc.
Latin America is one of the fastest growing aluminum pigment markets with a CAGR of over 6.5%. It is estimated that this region will earn an income of more than US$30 million by the end of 2024. Healthy growth in the construction industry will increase the demand for paints and coatings which in turn will drive the aluminum pigments market in this region.
The North American market is estimated to exceed US$130 million by 2024, increasing with CAGR of nearly 6%. The constant demand for cosmetic products coupled with the growing automotive coatings market will be the main driver in that region.
The use of aluminum pigments in solvent medium can cause serious impacts on the environment. Solvent-based aluminum coatings emit a considerable amount of volatile organic compounds (VOCs) that are easily converted into carbon dioxide by the oxidizing effect of sunlight. VOCs can also react with other air pollutants to produce ozone.
