Global Effect Pigments Market: Overview
Effect pigments show special effects to different substrates that improve their quality and make them more enticing to consumers. An effect pigment can display a wide array of properties such as color travel and reflecting or refracting of light. They can also act as mirrors and show different color effect in a process referred to as iridescence. The most widely used pigments are produced from silver, titanium, and platinum.The different kinds of effect pigments include helicons, polymer stacks, coated substrates, metal salt stacks, and mirrors. Polymer stacks contain iridescent film, coated substrates contain pearls, metal salt stacks contain OVPs, and mirrors comprise of metallic flakes.
Effect pigments find application in different end-use industries such as fashion industry, automotive industry, etc. Effect pigments are typically laminar, i.e., they have a flat surface. They can be natural or synthetic. The effect pigments can be taken away once the intended effect is accomplished to create another effect pigment. Most of the effect pigments that are used are transparent and can be applied on different substrates, namely mica, kaolin, fluorophlogopite, and glass flake, among others.
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Global Effect Pigments Market: Drivers and Restraints
Majorly boosting the global market for effect pigments are upcoming emerging trends in fashion, the automotive industry, and the consumer market. Swift pace of urbanization, growth in the market for paints and the coatings, and the building materials and plastic industry are also said to be catalyzing growth in the market. Developing economies across the world where industrialization and construction activities are booming along with consumerism, are main contributors to the demand for effect pigments. Effect pigments find application in automotive industry on account of their durable nature and special effects feature. A wide range of pigments that generate special effects such as decorative textures or angle dependent color have growing economic importance and are found in various end user applications and industrial products.
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Acting as a challenge to the effect pigment industry is the continued globalization which makes certain markets mature leaving little scope for further growth. Manufacturers suffer from excess capacities in such regions. Besides, their fallout on the environment is also acting as a deterrent to their market. Europe, for instance, has strict regulations placed on their use which has dealt quite a blow to the effect pigment market in the region. However, lack of such stringent measures in countries of Asia Pacific, particularly China and India, has facilitated the production and use of effect pigments on a substantial scale in them.
Global Effect Pigments Market: Geographical Segmentation
Geographically, the key segments in the global effect pigments market are North America, Asia Pacific, Europe, and the Rest of the World. Among them, Asia Pacific is a key market, powered primarily by China which manufactures maximum effect pigments and also accounts for most of the demand in the market. Burgeoning automotive, paints and coatings, and plastic industries in the region is the prime reason for the increasing demand for effect pigments. North America follows Asia Pacific and Europe comes in the third position.