UNITED KINGDOM June 22 2016 2:30 PM

LONDON (Scrap Register): Global aluminum pigments market was valued at $332.9 million in 2015 and is anticipated to reach $581.9 million by 2024, expanding at a CAGR of 6.4% between 2016 and 2024, as per the latest Industry Study.

Aluminum pigments are employed widely in paints and coatings, plastics, personal care, printing inks, and construction materials. Consumer preference for high performance aluminum pigments with attractive esthetic features has been rising significantly of late. 

Aluminum pigments are widely employed in the formulation of automotive paints & coatings to enhance their aesthetic properties. Automotive OEM coatings, automotive interior coatings, wheel coatings, automotive parts and accessories, and automotive refinishes are the major areas where aluminum pigments are used. 

Increased consumption of these pigments in decorative automotive paints and coatings is likely to fuel the market in the next few years.