You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

NEW YORK, April 22, 2021 /PRNewswire/ -- The global aluminum pigment market size is expected to grow by USD 177.59 million during 2020-2024, progressing at a CAGR of over 7% during the forecast period. Download FREE Sample Report The demand for aluminum pigment in the automotive sector is one of the major factors propelling the market growth. However, the stringent regulations on VOC may impede market growth. More details: www.technavio.com/report/aluminum-pigment-market-industry-analysisGlobal Aluminum Pigment Market: ApplicationBased on the application, the market saw maximum growth in the paints and coatings in 2019. Factors such as greater construction activities and higher use of automotive paint globally will increase the demand for aluminum pigments in paints and coatings. The market growth in the segment will be significant over the forecast period.Global Aluminum Pigment Market: Geographic LandscapeBy geography, APAC is going to have lucrative growth during the forecast period. About 49% of the market's overall growth is expected to originate from APAC. Factors such as increasing demand for paints and coatings, printing inks, and plastics in various end-user industries will significantly drive the aluminum pigment market growth in this region over the forecast period. Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.View market snapshot before purchasingCompanies Covered ALTANA AG Asahi Kasei Corp. BASF SE Carl Schlenk AG Carlfors Bruk AB DIC Corp. Hefei Sunrise Aluminium Pigments Co. Ltd. Nippon Light Metal Holdings Co. Ltd. Silberline Manufacturing Co. Inc. Zhangqiu Metallic Pigment Co. Ltd. What our reports offer: Market share assessments for the regional and country-level segments. Strategic recommendations for the new entrants. Covers market data for 2020, 2021, till 2025. Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations). Strategic recommendations in key business segments based on the market estimations. Competitive landscaping mapping the key common trends. Company profiling with detailed strategies, financials, and recent developments. Supply chain trends mapping the latest technological advancements. Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports. Aluminum Pigment Market 2020-2024: Key Highlights CAGR of the market during the forecast period 2020-2024. Detailed information on factors that will assist in aluminum pigment market growth during the next five years. Estimation of the aluminum pigment market size and its contribution to the parent market. Predictions on upcoming trends and changes in consumer behavior. The growth of the aluminum pigment market. Analysis of the market's competitive landscape and detailed information on vendors. Comprehensive details of factors that will challenge the growth of the aluminum pigment market, vendors. Related Reports on Materials Include:Global Aluminum Market- The aluminum market is segmented by end-user (transportation, construction, packaging, electrical engineering, and others), production process (primary aluminum and secondary aluminum), and geography (APAC, Europe, MEA, North America, and South America). Download FREE Sample ReportGlobal Aluminum Hydroxide Market- The aluminum hydroxide market is segmented by application (chemical, flame retardant, filler, antacid, and others), geography (APAC, North America, Europe, South America, and MEA), and key vendors. Download FREE Sample ReportTable of Contents:Executive SummaryMarket Landscape Market ecosystem Market characteristics Value chain analysis Market Sizing Market definition Market segment analysis Market size 2019 Market outlook: Forecast for 2019 - 2024 Five Forces Analysis Five Forces Summary Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition Market Segmentation by Application Market segments Comparison by Application Paints and coatings - Market size and forecast 2019-2024 Plastics - Market size and forecast 2019-2024 Printing inks - Market size and forecast 2019-2024 Personal care products - Market size and forecast 2019-2024 Others - Market size and forecast 2019-2024 Market opportunity by Application Customer Landscape Overview Geographic Landscape Geographic segmentation Geographic comparison APAC - Market size and forecast 2019-2024 Europe - Market size and forecast 2019-2024 North America - Market size and forecast 2019-2024 MEA - Market size and forecast 2019-2024 South America - Market size and forecast 2019-2024 Key leading countries Market opportunity by geography Volume driver-Demand led growth Market challenges Market trends Vendor Landscape Vendor landscape Landscape disruption Vendor Analysis Vendors covered Market positioning of vendors ALTANA AG Asahi Kasei Corp. BASF SE Carl Schlenk AG Carlfors Bruk AB DIC Corp. Hefei Sunrise Aluminium Pigments Co. Ltd. Nippon Light Metal Holdings Co. Ltd. Silberline Manufacturing Co. Inc. Zhangqiu Metallic Pigment Co. Ltd. Appendix Scope of the report Currency conversion rates for US$ Research methodology List of abbreviations About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Website: www.technavio.com/Report Page: https://www.technavio.com/report/aluminum-pigment-market-industry-analysisSOURCE Technavio Related Links http://www.technavio.com/

Answer: Global Aluminum Pigment Market Records an Incremental Growth of USD 177.59 Million During 2020-2024|Technavio