Home / Chemicals / Optical Variable Pigments Market by Type (Red/Green, Golden/Silver, Yellow/Blue, Red/Golden, Others) by Application (Inks, Coatings, Plastic, Other) - Growth, Future Prospects And Competitive Analysis, 2016 - 2028

Optical Variable Pigments Market by Type (Red/Green, Golden/Silver, Yellow/Blue, Red/Golden, Others) by Application (Inks, Coatings, Plastic, Other) - Growth, Future Prospects And Competitive Analysis, 2016 - 2028

Published Date: Mar 2022
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Report ID: 60521
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Report Format: PDF
Chemicals
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Pages: 132
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Rating: 4.6 (24)

Global Optical Variable Pigments Market Analysis

A multilayer thin film interference stack is major part of Optical Variable Pigments with substantially parallel first & second planar surface. Multilayer stack is made up of opaque reflecting layer. Finished products of Optical Variable Pigments offers a completely different colors when viewed from different angles in day light. Optical Variable Pigments impart very strong optical variable characteristic and obvious chromatism to finished products.  

optical-variable-pigments-market

Global Optical Variable Pigments market is expected to witness CAGR of 9.37% during the forecast period. The revenue generated by the global Optical Variable Pigments market in 2021 was over USD 2,008.23 million and expected to generate revenue worth USD 3,867.72 million in 2028. The incremental growth opportunity offered by the global Optical Variable Pigments is estimated to be USD 21.14 billion between 2022 and 2028.     

Interesting Facts about Optical Variable Pigments Industry

  • Optical Variable Pigments are widely being used in coatings and inks to be used in anti-counterfeiting packaging
  • Average price of Optical Variable Pigments is USD 300 per kilogram
  • Aluminium, Magnesium, Copper, Zink, Manganese, Nickel, etc. are key raw materials for Optical Variable Pigments
  • S. is single largest market for Optical Variable Pigments with over 30% share in 2021
  • China is second largest market for Optical Variable Pigments with over 10% share in 2021

Huge Demand from Coatings and Inks Market

Inks, Coatings, Plastic and Other are major application markets for Optical Variable Pigments. Coatings held the largest share of over 35% in total revenue generated by the global Optical Variable Pigments market in 2021. Optical Variable Pigments are growing demand from coatings and inks applications. As Optical Variable Pigments has ability to impart colour changing properties which are highly useful in anticounterfeiting packaging. Optical Variable Pigments are also increasing in adoption in applications which calls for security, trade market, inks for bank notes, etc.      

Red/Green Rule the Demand of Optical Variable Pigments

Red/Green, Golden/Silver, Yellow/Blue, Red/Golden and Others are major types of Optical Variable Pigments. Red/Green Optical Variable Pigments accounted for the largest share of over 20% in total revenue generated by the industry in 2021. While, Golden/Silver segment is likely to exhibit fastest CAGR of over 9.5% over the forecast period in terms of revenue.  

High Cost to Arrest The growth Rate of Optical Variable Pigments Market

Optical variable pigments are very costlier. This is one of the major restraints for this industry. Moreover, challenges in procuring raw materials and its fluctuating supply and prices are also presenting major challenge for  manufacturers.

Growing Demand for Specialty Pigments

Color is often a question of individual taste and perception, and this requirement is fashion based with scope for continuous development. Thus, substantial gains are expected from augmentation in the requirement of unique and novel eye-catching optical effects by manufacturers of automotive coatings, plastics, printing inks, toiletries and cosmetics.

Specialty pigments provide metallic tones and other special effects such as color-shifting that is continuously gaining popularity in consumer products. Moreover, such pigments enable manufacturers to create unique and attractive packaging that attracts consumer attention and differentiates manufacturer’s products, competing for shelf-space in retail establishments. Increasing spending capacity along with the inclination of consumers towards high end products with attractive packaging will boost the demand of the specialty pigment market. Specialty pigments satisfy the requirements of high gloss for most industrial end products and is expected to last as long as the product life. In addition, due to the dynamic shift in consumer preference for high end products, the current advancements may get outdated in due course of time, thus demanding improved high-end products. As this is a continuous process it will signify the need of specialty pigments in the market and drive it further.

North America to Lead the Demand of Optical Variable Pigments

Optical Variable Pigments market is dominated by the strong demand from North America. North America Optical Variable Pigments market is dominated by U.S. with over 80% share in 2021. Presence of large number of players, higher purchasing power parity of end-users and awareness among end-user regarding benefits of Optical Variable Pigments is mainly driving the demand in the region. While, Germany is dominating European market with over 20% share in total volume consumption in the region. China is advancing at a rapid pace in global Optical Variable Pigments market. India, South Korea and Japan also poised to play important role in the global Optical Variable Pigments market.   

Focus on Extensive Research & Development

Viavi Solutions, SMAROL, Huizhou Foryou Optical Technology Co., Ltd and Dimacolor Industry Group Co. Ltd are leading players in Optical Variable Pigments market. Global Optical Variable Pigments market is highly fragmented and many players are focused on extensive research & development in order to develop and commercialize innovative product for wide ranging application. 

Frequently asked questions about global Optical Variable Pigments industry

Likewise other industries, COVID 19 also taken a toll on Optical Variable Pigments market with around 10.31% decline in its revenue in 2020 as compare to 2019

North America is the largest regional market with highest share in the total volume of Optical Variable Pigments consumed in 2021

Growing demand in paints, coatings and ink application is driving the demand for Optical Variable Pigments

Red/Green segment dominated the Optical Variable Pigments market in 2021 with over 20% share

Coating’s segment was the largest application of Optical Variable Pigments in 2021 with over 35% share

Optical Variable Pigments Report Scope

Report Attribute Details
Market Value in 2021 USD 2,008.23 million
Market Value in 2028 USD 3,867.72 million
CAGR 9.37% between 2021 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Segments covered

Type

Red/Green

Golden/Silver

Yellow/Blue

Red/Golden

Others

Application

Yellow/Blue

Coatings

Plastic

Other

Major Players Analysed Viavi Solutions, SMAROL, Huizhou Foryou Optical Technology Co., Ltd and Dimacolor Industry Group Co. Ltd.
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