Aluminum Pigments Market Size

Aluminum Pigments Market size was valued at USD 518.26 Million in 2023 and is anticipated to exceed USD 1.13 Billion by the end of 2036, expanding at over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aluminum pigments is evaluated at USD 547.18 Million. The growth of the market can be attributed to the massive growth of the cosmetics industry worldwide. For instance, based on a study, the revenue of the cosmetic industry in the U.S. was worth about USD 48 billion in 2022. There are a variety of cosmetics products that require special effect pigments, such as lipsticks, eye shadows, nail lacquers, makeup, mascaras, blushers, and so on. To obtain lustrous, glossy effects, aluminum pigments are used extensively in these products. Further, the growing demand for consumer electronics, and automobiles is also expected to add to the market growth. Since aluminum pigments are also highly used for coating several electronics, and automobile products, this as a result is predicted to increase the market growth further in the years to come.

In addition to these, factors that are believed to fuel the market growth of aluminum pigments include the surge in the food and beverage industry, coupled with the surging demand for attractive labels in these sectors throughout the world. For instance, the worldwide non-alcoholic beverage industry is poised to be one of the fastest growing of all the label segments of the beverage industry with a growth of nearly USD 400 billion in the year 2021 up from about USD 370 billion in the prior year. Additionally, the increasing utilization of aluminum pigments in coatings in several end-use industries, along with the surging advancements in the printing industry is also predicted to present the potential for market expansion over the projected period.