Global specialty pigments market is expected to witness robust growth over the forecast period owing to growth of construction materials, eco-friendly feature, growing market for coating and paintings and high demand for energy efficient solutions. In addition, urbanization coupled with rising expenditures on infrastructure is likely to boost paint and coating industry which in turn is projected to fuel specialty pigment market over six years. Specialty pigments are used to enhance product value and product performance in their application segments. Their metallic and special color shifting effect has made them popular among consumers. They are predominantly used for attractive packaging and high end products. The demand for specialty pigments is estimated to increase owing to the benefits associated with it such as attractiveness, high durability, high color strength, chemical stability, low solubility, high disposability and environmental friendly.
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On the basis of product type, specialty pigment market is segmented into fluorescent, thermochromics, light interference and metallic pigments. Thermochromics and daylight fluorescent are types which are extensively used by niche and small companies operating in the market. Thermochromics pigments are heat sensitive which is further classified into reversible color change (in which color changes at specific temperatures and as soon as temperature drops, it recovers the original color.), reversible color change and memory effect (color changes at temperature T1 and recover the original color at temperature T2. The difference between T1 and T2 shows the memory effect) and, irreversible color change (color changes after certain temperature and remains unchanged after it drops). They are applied in packaging labels, beverage labels, ceramic coffee mugs, straws toys and, shirts.
The market is segmented on the basis of applications into paint and coatings industry, aerospace industry, automobile industry, printing inks, construction industry, plastics, cosmetics and toiletries. Among these, paint and coating industry is considered to be one of the major applications of specialty pigment. BASF chemical manufacturing company uses its specialty pigment for coating aerospace materials and other plastic materials. These pigments help in decreasing the interruption during airframe refurbishments as well as increasing the lifespan of the coatings. Specialty pigments such as mearlite and metasheen provides liquid and mirror finishing to the plastics of aircraft cabins. Brand differentiation is the need for customers to recognize the product. These pigments help in creating the long lasting impression in customer’s mind. Black olive pigment is a pearlescent pigment which improves opacity, Firemist pigment show sparkling and reflective effect and Glacier pigment is a clean bluish white fluorescent giving cool silver shine to the product.
In aircraft, use of excessive paints leads to extra weight and higher fuel cost. In order to overcome this problem, BASF has manufactured certain chemicals for coating on aircrafts. These are high performance pigments which performs against harsh environments such as rain, heat and cold, ultraviolet exposures and hails. Pigments like irgazin, heliogen, sicopal, paliotol and paliogen have high hiding power, high durability and have specific key colors. Regionally, the market is segmented into North America, Europe, Asia-Pacific, Latin America and MEA. North America is expected to hold the largest market share owing to rising infrastructure expenditures, high penetration of manufacturing automotive facilities, urbanized lifestyle and high environmental awareness. Europe is anticipated to follow North America with a close difference in rising population base and R&D expenditures.
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