Pearlescent or ‘pearl’ effect pigments have gained immense popularity in recent years owing to their high sustainability, brilliant color effects, and a wide range of variations. These pigments are increasingly being incorporated into various paints, coatings, printing inks & even cosmetics to provide highly appealing, durable & unique color effects.
Product appearance & aesthetics remain a major driving factor for industry growth along with increasing consumer focus on durability, performance characteristics such as thermal stability, barrier effects, and corrosion resistance. Additionally, the development of waterborne technology has also presented various opportunities for special effect pigment manufacturers.
Various schemes such as the ‘Make in India’ initiative, introduced by the Government of India, have boosted regional manufacturing activities, which has acted as a stimulus for pigment production & consumption in various industrial applications. Such schemes are mostly centered around boosting the region’s economy by reducing the reliance on imports, which in turn has fostered investments in nascent technologies such as pearl effect pigments.
Titanium dioxide (TiO2) mica based pigments have displayed excellent compatibility with varied substrates, good hiding power, and high luster. Additionally, the country has ample reserves of ilmenite & rutile, from which this dioxide can be obtained with ease. These factors have boosted the consumption of pigments based on TiO2 mica, leading to a higher volume share in the Indian market.
India is a country that witnesses several religious, spiritual and other festivals celebrated on a regular basis. Rising consumer disposable income has encouraged consumers to invest in decorative paints & coatings for household interiors on such auspicious occasions. Thus, the decorative paints segment is a major application for pearlescent pigments with a high growth rate as well.
Furthermore, the plastics industry is India is currently witnessing rapid growth owing to the accelerated pace of urbanization. Consumers are also increasingly demanding smaller package sizes, while retailers attempt to attract more sales by refining their visual merchandising techniques. This trend has fostered pigment demand in rigid & flexible packaging applications as well.
Major domestic companies include Sudarshan Chemicals, Dev Tech India Pvt. Ltd., FX Pigments, Plasti Pigments, Colourex, Dycon Chemicals, and Premier Pigments & Chemicals. Other industry participants include multinationals such as BASF S.A., Merck Performance Materials, Fujian Kuncai Material Technology Co. Ltd., and Valspar among others.
In-depth report on India pearlescent pigment market by Grand View Research: