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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

A multilayer thin film interference stack is a significant part of Optical Variable Pigments with substantially parallel first & second planar surfaces. A Multilayer stack is made up of an opaque reflecting layer. Finished products of Optical Variable Pigments offer entirely different colors when viewed from different angles in daylight. In addition, Variable optical Pigments impart robust optical variable characteristics and obvious chromatism to finished products.


The Global Optical Variable Pigments market is expected to witness a 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 is expected to generate revenue worth USD 3,867.72 million in 2028. Therefore, 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 anticounterfeiting packaging
  • The average price of Optical Variable Pigments is USD 300 per kilogram
  • Aluminum, Magnesium, Copper, Zink, Manganese, Nickel, etc. are vital raw materials for Optical Variable Pigments
  • S. is the single largest market for Optical Variable Pigments, with over 30% share in 2021
  • China is the 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% of total revenue generated by the global Optical Variable Pigments market in 2021. Optical Variable Pigments are growing in demand from coatings and inks applications as Optical Pigments can impart color-changing properties, which are highly useful in anticounterfeiting packaging. In addition, Variable visual Pigments are also increasing in applications that call for security, trade market, inks for bank notes, etc.     

Red/Green Rule the Demand for Optical Variable Pigments

Red/Green, Golden/Silver, Yellow/Blue, Red/Golden, and Others are significant types of Optical Variable Pigments. Red/Green Optical Variable Pigments accounted for the largest share of over 20% of total revenue generated by the industry in 2021. In contrast, the Golden/Silver segment will likely exhibit the fastest CAGR of around 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 significantly costlier. This is one of the major restraints for this industry. Moreover, challenges in procuring raw materials and their fluctuating supply and prices also present significant challenges for manufacturers.

Growing Demand for Specialty Pigments

Color is often a question of individual taste and perception; this requirement is fashion-based with scope for continuous development. Thus, substantial gains are expected from augmentation in providing 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, continuously gaining popularity in consumer products. Moreover, such pigments enable manufacturers to create unique and attractive packaging that attracts consumer attention and differentiates manufacturers’ products, competing for shelf space in retail establishments. Increasing spending capacity and the inclination of consumers toward high-end products with attractive packaging will boost the demand for the specialty pigment market. Specialty pigments satisfy the requirements of high gloss for most industrial end products and are 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 time, thus demanding improved high-end products. As this is a continuous process, it will signify the need for specialty pigments in the market and drive it further.

North America to Lead the Demand for Optical Variable Pigments

The optical Variable Pigments market is dominated by strong demand from North America. North America Optical Variable Pigments market is dominated by the U.S., with over 80% share in 2021. The presence of a large number of players, higher purchasing power parity of end-users, and awareness among end-user regarding the benefits of Optical Variable Pigments is mainly driving the demand in the region. While Germany is dominating the European market with over 20% share in total volume consumption in the region. China is advancing rapidly in the global Optical Variable Pigments market. India, South Korea, and Japan are also poised to play an essential 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 the Optical Variable Pigments market. The Global Optical Variable Pigments market is highly fragmented, and many players are focused on extensive research & development to develop and commercialize the innovative product for the wide-ranging application. 

Frequently asked questions

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












Major Players Analysed Viavi Solutions, SMAROL, Huizhou Foryou Optical Technology Co., Ltd and Dimacolor Industry Group Co. Ltd.
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Mar 2022
Category:  Chemicals
Report ID:   60521
Report Format:   PDF
Pages:   132
Rating:    4.6 (24)
Delivery Time: 24 Hours to 48 Hours   
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