The Global Lithopone Market is projected to grow at a CAGR of 4.5% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the swift expansion of the plastic, rubber, and paints & coating industries, augmenting the demand for lithopone, finding application in the manufacturing of plastics, leather, painting & coating automobiles, among others.
It, in turn, is also generating growth opportunities for the leading players to increase their production & distribution capacities and cater to the rising needs across industries and positively influence the overall growth of the lithopone market.
Besides, growing awareness across industries about the properties of lithopone for pigmentation of natural & synthetic elastomers is also demonstrating a rise in its demand across the rubber industry. It is principally to enhance the rheological performance in rubber blends and contribute to the overall market growth. Hence, such factors are paving the way for the expansion of the Global Lithopone Market through 2027, further states the research report, “Global Lithopone Market Analysis, 2022.”
Pigmenting Properties of Lithopone Driving Its Application in the Paints & Coatings Industry
Based on the Application, Paints & Coatings dominated the Global Lithopone Market with the largest share in the previous years and is anticipated to prevail in the same trend during the forecast period. It attributes principally to the properties of lithopone of delivering the corrosion & rust resistance in paints & coatings, demonstrating greater applicability across industries like automotive applications & consumer goods.
Besides, growing awareness among industry players about the capabilities of these products to enhance the overall lifespan & durability of coatings while minimizing the possibilities of film cracking in paints & coatings. As a result, the demand for lithopone is widening for paint & coating applications and stimulating the overall growth of the Global Lithopone Market through 2027.
Expansive Automotive & Packaging Industries in Asia-Pacific to Drive the Market
Geographically, Asia-Pacific is anticipated to dominate the Global Lithopone Market with the largest share in the previous years and is anticipated to prevail in the same trend during the forecast period. It owes principally to the expansive automotive & packaging industry across different countries like China & India in the region, augmenting the demand for lithopone for different activities.
Since these industries have a substantial requirement for lithopone, the leading players in the industry are actively participating and expanding their production & distribution capacities to cater to the rising needs and contribute to the overall market expansion through 2027.
The leading players in the Global Lithopone Market are American Elements, Anhui Union Titanium Enterprises Co. Ltd., Fengchen Group Co. Ltd., Heera Chemicals, Kremer Pigments Inc., Langfang Pairs Horses Chemical Co. Ltd., Natural Pigments Inc., Shanghai Yuejiang Titanium Chemical Manufacturer Co. Ltd., Titanos Group Limited, VB Technochemicals SA, Venator Materials PLC (Huntsman Corporation), Wuhu Loman Chemical Co. Ltd., Xiangtan Red-Swallow Chemical Co. Ltd., and Zhengzhou Vidar Water Industrial Co. Ltd.
Key Questions Answered in the Research Report