Lithopone Market is set to surpass USD 235 million by 2025; according to a new research report.
Increasing light weight plastics demand for manufacturing of fuel-efficient vehicles is likely to propel lithopone market growth. The product due to polymerization brightening and enhancing property is used in plastics & polymer industry. It helps in surging extruder yields and decrease processing costs for producing plastics. These factors may stimulate industry growth.
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Lithopone confers opacity and blends easily with organic compounds. The product functions as an inert pigment for ink and paints. It is utilized as a filler in linoleum flooring, paper & pulp, leather products. Lithopone due to its application in sealing and jointing compounds is used in paints & coatings industry. Growing decorative paints utilization in construction activities will drive industry growth.
UK 60% lithopone market would surpass over USD 1.5 million by the end of 2025. Improving standard of living, rising consumption of graphics and packaging inks along with escalating e-commerce activities have led to increased demand for printing ink. The product functions as an extender in inks and is an opaque pigment. It helps to surge ink's volume without affecting its viscosity thus, stimulating lithopone market growth.
Lithopone owing to low durability and refractive index is replaced by titanium dioxide. It might cause skin and eye irritation in humans if exposed for an elongated period. These factors may affect lithopone market profitability and market price trends in the forecasted timeframe. The product's low cost as compared to titanium dioxide may propel market growth.
Lithopone market from rubber application may observe significant gains up to 2.5% during projected time. The product is utilized for pigmentation of organic and synthetic elastomers while enhancing rheological performance in rubber blends thus, escalating market. Growing demand for rubber goods in automotive and aerospace industries will have a positive impact on product demand.
Canada lithopone market from paints & coatings application may surpass USD 2.5 million by 2025. It helps to reduce the overall cost while formulating powder coatings and emulsion paints. The product helps to increase coating's lifespan along with diminishing film cracking which may drive market growth. Escalating industrial activities to cater rising consumer goods demand will fortify product demand.
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Global lithopone market share is moderately fragmented and highly competitive with key manufacturers including Kremer Pigments, VB Technochemicals, American Elements, Langfang Pairs Horses Chemical Co., Ltd, Titanos, DowDuPont, Inc. and Venator Materials Plc. Manufacturers are focusing on escalating their marketing network by developing distribution strategies through mergers & acquisition and partnership. Growing investments in research and development activities by companies for product expansion may fortify market growth. Increasing technological advancement in production technology will propel industry size.