International. The market size of metallic pigments will exceed US$2.3 billion by 2024; according to a new research report from Global Market Insights, Inc.
The increasing demand for eco-friendly paints and coatings along with low carbon emissions is spurring the growth of the powder pigment market size. Aluminum and copper metal pigments are experiencing high demand due to the availability of a wide variety of products.
The growing demand of the decorative paints and coatings industry due to the burgeoning automotive OEM and finishing industry may increase the market demand for metal pigments.
The stainless steel-based metal pigment market size of paint and coating applications can record gains of more than 5.5% by 2024 due to ultraviolet, abrasion and corrosion resistance, hardness and high strength. These products are incorporated into conventional water- and solvent-based protective coatings and applied on metal substrates for enhanced protection. In addition, these products form a multilayer structure strongly attached to the substrate that exposes the flake particles despite the loss of the coating binder, thus offering sustained protection and influencing market revenues.
North America, driven by the size of the nickel-based metal pigments market in the United States, Canada, and Mexico, can attest to a consumption of more than 2.4 kilo tons through 2024. These products offer various benefits such as versatility, high corrosion resistance, electrical conductivity, ferromagnetism and attractive appearance. These products have diverse applications including decorative coatings and electrically conductive coatings for aerospace and military applications and wall protectors.
The stainless steel pigments market share in the paints and coatings sector will register a CAGR of 5.5% during 2018-2024, driven by the high strength and corrosion resistance characteristics of the material. The nickel pigments market in North America is expected to exceed consumption of 2.4 Kilo tons by 2024. Regional demand is primarily driven by the United States, Mexico, and Canada.
