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

Key Highlights of the report

How are the major segments performing in the Optical Variable Pigments Market?

  • The golden/silver type segment led the global market in 2021 and is expected to continue over the projection period. Golden/silver is an optically variable pigment that produces colors ranging from copper to silver. These pigments are typically used in industrial applications like printing and packaging rather than paint or ink.
  • In 2021, the coatings application segment held the largest market revenue share. Optical variable pigments are becoming more popular in coatings due to their ability to produce a very high color intensity. This is mainly due to these pigments in decorative paint, which also require strong colors and gloss levels that can endure wear and tear over time.

Which region dominated the optically variable pigments market?

In 2021, the North American region was anticipated to hold a prominent global optical variable pigments market share. Higher application in many industries, such as printing ink & coatings, growing demand from multiple end-users for more appealing products with increased color intensity, glossy finish, or other features that can endure wear and tear over time, and a wide spectrum of colors are the factors driving regional expansion in this market. Pigments are widely used in this region to create paintings and add color. Additionally, environmentally friendly variable pigments will likely gain popularity, given the consumer industries' growing interest in the region.

How is US Market Performing in the Optical Variable Pigments Market?

North American demand dominates the optically variable pigments market. The U.S. holds more than 80% market share in North America's optical variable pigments. A large number of players, end-user purchasing power parity, and end-user awareness of the benefits of optically variable pigments are primarily driving demand in the United States. The market is driven mainly by the country's expanding construction sector and rising demand for environmentally friendly and sustainable variable pigments. The demand for optical variable pigments in the United States is also increasing significantly due to constantly changing demands for developing technologies.

What is the competitive environment of the optically variable pigments market?

The market for optical variable pigments is highly fragmented, and numerous players are concentrating on in-depth research and development to create and market innovative products for various applications. Key players also concentrate on technological advancements, business expansion through mergers and acquisitions, corporate restructuring & investments, and capacity expansion to have a significant global presence and increase their optical variable pigments market share. For instance, DCL acquired Sun Chemical's manufacturing plant in Goose Creek, South Carolina, USA, in July 2021. It would provide families of specialty pigments with the best performance, particularly high chromaticity, durability, heat stability, and accountability in the most demanding applications, such as the automotive, paints and coatings, and designed plastics markets.

 

REPORT ATTRIBUTE DETAILS

Optical Variable Pigments Market by Volume

Yes

Market by Value

Yes

Market, Tornado Analysis

Yes

Market, STAR Analysis

Yes

Market, SRC Analysis

Yes

Market, Import-Export Data

Yes (On Demand)

Market Pricing Analysis

Yes (On Demand)

Market Segment Analysis

By Type (Red/Green, Golden/Silver, Yellow/Blue, Red/Golden, and Others)

By Application (Coatings, Plastic, and Others)

Market, Regional Analysis

North America (US and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)

Market Key Companies

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

Market Competitive Landscape

Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

 

Executive Summary

What are the key trends in the Optical Variable Pigments Market?

  • Growing demand for specialty pigments: Metallic tones & other special effects, like color-shifting, are provided by specialty pigments, which are becoming increasingly popular in consumer goods. Increased consumer spending power and a preference for high-end products with appealing packaging will drive demand for the specialty variable pigment market.
  • Emerging demand for high-performance pigments: Optical variable pigments facilitate manufacturers to create unique and appealing packaging that attracts consumer attention and differentiates manufacturers' products when competing for shelf space in retail establishments. Moreover, current advancements may become obsolete as consumer preferences for high-end product lines change, necessitating improved high-end products.

What are all the technical developments in the global optical variable pigments market?

Technological advancements in the plastics industrial sector have increased optical variable pigments, propelling the global market forward. A technological breakthrough in the development of nanostructured materials has created new opportunities for advancement in various industries. Nanotechnology is widely used in the optically variable pigment industry. A major industry trend is the increased use of nanotechnology in producing optical variable pigments to improve mechanical and optical properties. Nanotechnology's use in producing these pigments improves their tribological coating and mechanical and optical properties.

optical-variable-pigments-market

Which are the key investments by the optically variable pigments market players?

Major players in the optically variable pigments market are investing in R&D and working to develop environmentally friendly pigments. Viavi Solutions, Epsilon Carbon, and SMAROL are among the major players who have invested in and assimilated their operations. They are involved in every value chain stage for variable pigments, from manufacturing to distribution to final use. For instance, Epsilon Carbon, a producer of carbon black utilized in black variable pigments, announced plans in September 2022 to invest USD 61 million to enhance the capacity of its plant in Karnataka, India, to 100,000 tonnes.

Viavi Solutions, SMAROL, Huizhou Foryou Optical Technology Co. Ltd, and Dimacolor Industry Group Co. Ltd are major optically variable pigments market players.

What are the Major Driving Factors for the Optical Variable Pigments Market?

The demand for these products is driven by the rising demand for eco-friendly packaging applications with high color intensity and the capacity to mix multiple colors using a single base pigment. These pigments in ink formulations for gravure, flexo, screen printing, and digital printing are expanding, driving demand for these products globally. It is also anticipated that factors like a rise in end-user industries, a rise in the demand for high-performance pigments (HPP), and a rise in consumer preference for environmentally friendly products will further fuel the growth of the global optical variable pigments market.

What are the Major Risks for the Optical Variable Pigments Market?

Optically variable pigments are significantly more expensive, which restricts the growth of the global market. Aside from these issues, obtaining raw materials can be difficult, and their availability and cost constantly change.

Which is the key application in the optically variable pigments market?

The coatings application segment will account for a significant revenue share of the global optical variable pigments market over the projection period. Optical variable pigments are becoming more popular in coatings and ink applications as they can impart color-changing properties that are extremely useful in anticounterfeit packaging. Optical variable pigments are becoming increasingly popular in coatings due to their ability to achieve extremely high color intensity. This is primarily due to pigments in decorative paint, which require long-lasting colors and gloss levels that can withstand wear and tear over time. Additionally, there is an increase in the use of variable visual pigments in applications that require security, the trade market, inks for bank notes, etc.

How is the optically variable pigments market performing in regions?

Furthermore, Asia Pacific is expected to have the highest revenue share in the global optical variable pigments market during the projection period. China and India, in particular, are expected to be the major producers, and regulatory compliance will continue to be a key factor influencing market growth, particularly in the production of lead chromate and volatile organic compounds (VOCs). The highly regulated optical variable pigments market relies heavily on Chinese markets for intermediaries and finished goods. Decorative coatings are expected to generate significant profits in this regional market.

What is the regulatory landscape for the optically variable pigments market?

Optical variable pigments are widely used in printing ink applications due to regulations and acts such as the Code of Federal Regulations (CFR), FFDCA, and Generally Recognized as Safe (GRAS). Various laws govern the ingredients used to make products and the labeling and packaging.

What is the Market Size of Optical Variable Pigments regarding value?

The global optical variable pigments market is anticipated to grow at a substantial CAGR of 9.1% in the upcoming years. The global optical variable pigments industry was estimated to be worth USD 2.1 billion in 2021 and was expected to be worth USD 3.54 billion by 2028.

What are the major players planning for the future of the optically variable pigments market?

Increased vehicle manufacturing and increased demand for industrial paints and coatings are projected to contribute to the growth of the optically variable pigments market in the coming years. Major market participants invest heavily in R&D for high-quality, environmentally friendly products. They are expanding their operations to remain competitive by producing specialty variable pigments made from organic and bio-based materials. For instance, Venator Materials PLC emerged as the first manufacturer & supplier of a premium TiO2 variable pigments grade for the delustering (sheen reduction) of synthetic fibers such as viscose, polyester, and acrylic in September 2022.

Segmentation of Global Optical Variable Pigments Market -

Global Optical Variable Pigments Market – By Type

  • Red/Green
  • Golden/Silver
  • Yellow/Blue
  • Red/Golden
  • Others

Global Optical Variable Pigments Market – By Application

  • Coatings
  • Plastic
  • Others

Global Optical Variable Pigments Market – By Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global optical variable pigments market.

The global optical variable pigments market was also hit by the COVID-19 pandemic, which resulted in a 4.6% decrease in revenue in 2020.

North America accounted for the most heightened share in the global optical variable pigments market.

The demand for eco-friendly packaging with vibrant colors and the ability to blend multiple hues using a single base pigment is fueling the market for these optical variable pigments.

The golden/silver segment had a major global market revenue share in 2021.

The coatings segment had a major revenue share in the global market in 202

Optical Variable Pigments Market Scope

Report Attribute Details
Market Value in 2021 USD 2.1 billion
Market Value in 2028 USD 3.54 billion
CAGR 9.1%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Dec 2022
Category:  Chemicals
Report ID:   60865
Report Format:   PDF
Pages:   130
Rating:    4.6 (40)
Delivery Time: 24 Hours to 48 Hours   
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