The Global Optical Variable Pigments Market generated revenue of around USD 2,008.23 million in 2021 and is anticipated to grow a CAGR of over 9.37% during the forecast period from 2021 to 2028 to reach around USD 3,867.72 million in 2028. While, cumulative growth opportunity presented by the global Optical Variable Pigments is around USD 21.14 billion during 2022 to 2028.
Global Optical Variable Pigments Market, 2021 – 2028 (USD Million)
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.
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Golden/Silver Optical Variable Pigments to Grow at Rapid Pace
Red/Green, Golden/Silver, Yellow/Blue, Red/Golden and Others are some of the important types of Optical Variable Pigments used across different industries. However, Golden/Silver Optical Variable Pigments is growing in demand and held significant share in total revenue generation with over170% in 2021. While, Red/Green, Yellow/Blue and Red/Golden segments collectively held over 50% share in total revenue generation in 2021 and poised to play important role in growth of Optical Variable Pigments in the years to come.
Coatings & Inks Industry to Govern Future Growth of Optical Variable Pigments Industry
Inks, Coatings, Plastic and Other are major application markets for the global Optical Variable Pigments industry. Coatings & Inks industry held the largest share of global Optical Variable Pigments industry in 2021 with over 70% contribution to revenue generated by Optical Variable Pigments market. Secondly, plastic industry is also expected to grow at a significant CAGR which in turn likely to drive demand for Optical Variable Pigments.
Europe is Second Leading Optical Variable Pigments Demand
Europe is second leading the Optical Variable Pigments industry with over 30% share in 2021. Increasing demand for specialty raw materials for the production of inks & coatings for specialty application in Europe and North America are primarily driving the demand for Optical Variable Pigments. Moreover, demand for Optical Variable Pigments is growing in Asia Pacific owing to increasing consumption of Optical Variable Pigments based coatings and inks. China, South Korea, Japan and India are promising market for Optical Variable Pigments in the region. While, U.S. has been remained at the forefront in adoption and consumption of Optical Variable Pigments over the past few years.
Major players operating in the Optical Variable Pigments industry include but not limited to Viavi Solutions, SMAROL, Huizhou Foryou Optical Technology Co., Ltd and Dimacolor Industry Group Co. Ltd. Global Optical Variable Pigments market is characterized by the presence of large number of manufacturers across the world. Increasing production capacity in order to achieve economies of scale and growing in market share is primary focus of the industry participants.
Market Segmentation
Global Optical Variable Pigments Market by Type, 2016 – 2028
- Red/Green
- Golden/Silver
- Yellow/Blue
- Red/Golden
- Others
Global Optical Variable Pigments Market by Application, 2016 – 2028
- Inks
- Coatings
- Plastic
- Other
Global Optical Variable Pigments Market by Company, 2016 – 2028
- Viavi Solutions
- SMAROL
- Huizhou Foryou Optical Technology Co., Ltd
- Dimacolor Industry Group Co. Ltd
- Others
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