Market Definition
A co-precipitated combination of barium sulfate & zinc sulfide is known as Lithopone, which functions as a cost-effective alternative to titanium dioxide. When Lithopone is combined with Titanium dioxide, it helps in reducing lacing & improving the mechanical properties in industries like plastic. Lithopone is popular in the industry, principally to its benefits, offering minimal costs. This product is also used to fill tears & holes in leather goods.
Market Insights
The Global Lithopone Market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2022-27. The market is driven by the swift expansion of the plastic industry, demonstrating greater utilization of Lithopone owing to its chemical inertness & low abrasiveness, demonstrating diverse applicability in the plastic manufacturing sector.
Besides, as the utilization of such products to manufacture lightweight vehicles is escalating rapidly, it is making a direct influence on the lithopone demand. In addition, since lithopone finds substantial application in paints & coatings, its utilization is widening across the automotive & consumer goods industry and boosting the overall market growth.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 4.5% |
| Regions Covered | North America: The US, Canada, Mexico |
| Europe: Germany, The UK, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific | |
| South America: Brazil, Rest of South America | |
| Middle East & Africa: Saudi Arabia, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled |
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., Zhengzhou Vidar Water Industrial Co. Ltd., Others |
| Unit Denominations | USD Million/Billion |
The properties of lithopone for pigmentation of natural & synthetic elastomers is another aspect demonstrating a rise in its demand across the rubber industry to enhance the rheological performance in rubber blends. Hence, the escalation in rubber production shall also pave the way for Global Lithopone Market expansion and generate lucrative opportunities for the leading players to increase their production & distribution capabilities and cater to the rising needs globally.
Market Segmentation
Based on Product:
Here, Lithopone 28% is anticipated to dominate the Global Lithopone Market with the largest share during the forecast period. It owes principally to 28% of zinc content in the form of zinc sulfide. This product is an organically coated white pigment that is based on a co-precipitated zinc sulfide/barium sulfate, exhibiting properties like low binder requirement, exceptional dispensability, minimal abrasiveness, and natural hue, among others. Hence, these elements find extensive application across industries like rubber & paper.
On the other hand, Lithopone 60% is projected to demonstrate the fastest growth in the Global Lithopone Market and contribute significantly to the overall expansion in the coming years. In this element, zinc sulfide is found in 60% content and offers properties like resistance improvement against the light. Hence, it finds extensive utilization in industries like rubber & caters to the overall growth of the Global Lithopone Market through 2027.
Based on the Application,
Here, the Paints & Coatings application acquired the largest share of the Global Lithopone Market in the previous years and is anticipated to prevail in the same trend during the forecast period. This dominance attributes principally to the corrosion & rust resistance properties of lithopone in paints & coatings, finding extensive utilization across industries like automotive applications.
These products are also known for enhancing the overall lifespan & durability of coatings & minimizing the possibilities of film cracking in paints & coatings. Hence, the utilization of lithopone is widening in paints & coatings and stimulating the overall growth of the Global Lithopone Market.
On the other hand, Plastic applications shall also gain swift momentum in the market and contribute substantially to the overall industry growth in the coming years. It owes principally to the expansive packaging industry utilizing plastic for diverse applications. It, in turn, is augmenting the demand for lithopone to enhance the extruder yields & minimize processing costs for plastic manufacturing and driving the Global Lithopone Market.
Regional Landscape
Geographically, the Global Lithopone Market expands across the following:
Here, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. It owes principally to the massive packaging & automotive industry, augmenting the demand for lithopone for applications like packaging, paints & coatings, inks, and more. Besides, the active participation of several prominent players in the paint & coating industry across different countries in the region is contributing substantially to the up-surging demand for lithopone and driving the Global Lithopone Market through 2027.
On the other hand, North America is anticipated to demonstrate the fastest growth in the Global Lithopone Market during the forecast period. It owes principally to the active participation of the leading players in the paper & pulp industry, up-surging the demand for Lithopone for its optical properties & improving nature, demonstrating wide utilization for paper production.
Possible Restraint: Stringent Regulations to Reduce VOC Emissions
As the governments of different countries are increasingly focusing on minimizing VOC (Volatile Organic Compound), producing unpleasant & string order harmful to the environment & humans, the utilization of lithopone might witness a decline across industries. Owing to the presence of stringent regulations set by the governments of different countries, different industries are focusing on utilizing agents that do not have such toxicity. Hence, the Global Lithopone Market might witness challenges in the fledged growth during the forecast period.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Lithopone Market is projected to grow at a CAGR of around 4.5% during 2022-27.
A. The presence of stringent regulations set by the governments of different countries are instigating industries to focus on utilizing agents that do not have toxicity that are present in Lithopone. This aspect might restrain the fledged growth of the Global Lithopone Market during 2022-27.
A. Paints & Coatings are anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Lithopone Market during the forecast period.
