Metallic pigments market to reach $3.4B by 2033
By Callie Iley | 30 March 2023 | Business, News
The metallic pigments market is predicted to reach $3.4 billion by 2033, alongside rising demand in a range of industries.
Driven by demand from industries such as cosmetics, printing, coatings, and building materials, a report by FactsMR has found that the metallics pigment market is predicted to hit $2.3 billion in 2023, with a substantial increase in the demand for metallic pigments with eco-friendly attributes.
With the reduction of environmental concerns being a key area of development, seen in the limiting of heavy elements such as cadmium and chromium in paints, construction and cosmetics, the industry is also adapting to consumer demand as the market is predicted to grow at a compound annual growth rate of 4%.
Distributors are investing in supply chain management and suppliers are engaging in mergers and acquisitions to expand their product portfolios. For example, specialised chemicals company ALTANA acquired German-based metal powder manufacturers, TL Technik GmbH Spezialpulver KG.
Metallic pigments are used widely in cosmetics and personal care products to create long-lasting gold-bronze effects, leading to an increase in demand for the pigments, offering versatility, sustainability, low maintenance, and compatibility. In nail looks, metallic pigments offer cool chrome finishes and striking metal touches to designs.