New product launches, mergers, joint ventures, acquisitions, expansions, agreements, and collaborations are the key strategies adopted by industry players to achieve growth in the special effect pigments market. Increasing industrial developments, technological advancements, and demand for products with excellent appearance and special effects have led to the high demand for special effect pigments for various applications such as paints & coatings, plastics, printing inks, and cosmetics. Companies are therefore adopting strategies such as new product launches, expansions, mergers & acquisitions, and agreements. Some of the key players, such as BASF SE (Germany), Clariant AG (Switzerland), Huntsman Corporation (U.S.), Altana AG (Germany), and Merck KGaA (Germany) have adopted these strategies to develop their businesses, globally. These strategies also accounted for a significant share of the overall growth strategies adopted by players in the special effect pigments market between 2013 and 2017.
BASF SE is among the leading players in the global special effect pigments market. The company, as a major special effect pigments manufacturer, aims to expand its market share to become one of the most innovative companies in the world. As part of its growth strategy, BASF expanded its capacity for the production of Paliocrom effect pigments by more than 20 percent by 2017 in Ludwigshafen, Germany. The investment enabled the company to accommodate the growing demand for its aluminum-based effect pigments in the automotive coatings sector. This expansion helped the company in promoting sustainable growth and also meeting the increasing demand for special effect pigments in various applications such as paints & coatings, plastics, printing inks, cosmetics, and others.
Altana AG (Germany) which manufactures special effect pigments under its subsidiary, Eckart is one of the largest manufacturers of special effect pigments worldwide. As part of its business strategy, the company focuses on new product developments and research. The company emphasizes on the manufacture of superior quality products by employing the latest state-of-the-art technology and improving the efficiency of its operations. For instance, in 2016, ECKART launched the latest metallic and pearlescent pigment and ink portfolio for printing labels and packaging. This includes ROTOSTAR UV SHRINK FX 68 series, ROTOSTAR LED FP 71 series, ULTRASTAR UV FP-8254, and ULTRASTAR AQUA. These products offer brilliant metallic effects without losing film integrity during high percentage shrinkage.
Key companies, such as BASF SE (Germany), Clariant AG (Switzerland), Huntsman Corporation (U.S.), Altana AG (Germany), Merck KGaA (Germany), Sudarshan Chemical Industries (India), DIC Corporation (Japan), and Geotech International B.V. (Netherlands) are the most active players in the global special effect pigments market.
Related Reports:Special Effect Pigments Market by Type (Metallic, Pearlescent), Application (Plastics, Paints & Coatings, Printing Inks, Cosmetics), and Region - Global Forecast to 2022
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