Worldwide lithopone market is anticipated to exceed US $235 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
The growth of the lithopone market can be attributed to the product’s various properties and related applications. Owing to its light weight, lithopone is used in the manufacturing of vehicles to make them fuel efficient. It is used in polymer & plastics industry as it enhances and brightens the polymer products. When used in production of plastics, it reduces the manufacturing cost by increasing extruder yields.
Being an inert pigment, lithopone is used in inks and paints. Another use of the product is in paints & coatings industry as a jointing and sealing compound. The product provides opacity and blends easily with organic compounds. Various products of leather, paper & pulp and linoleum flooring use lithopone as a filler. All these applications along with the growing use of decorative paints will boost the demand for the product driving lithopone market growth.
According to the report, UK Lithopone 60% market is presumed to accrue more than US $1.5 million by the end of 2025 owing to the growing demand for printing ink. As the standard of living is improving, the consumers are increasingly indulging in e-commerce, fueling the use of graphics and driving the demand for packaging inks. Lithopone being an opaque pigment acts as an extender for ink increasing the volume without affecting its viscosity.
However, lithopone has some limitations such as lesser refractive index and low durability. It is known to cause some health ailments like eye irritation and skin inflation on prolonged exposure. Owing to these factors, lithopone can be replaced by costlier substitute like titanium oxide, adversely impacting the demand and restricting the profitability of the market.
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Canada lithophone market from paints & coatings application is projected to exceed US $2.5 million over the forecast period owing to the use of the product for increasing the lifespan of coatings and reducing cracking of the film. Increasing industrial activities along with reduced formulation cost for emulsion paints and powder coating will bolster the market growth, cited the report.
The key players of the lithophone market are collaborating with other contenders to widen the marketing network and improve distribution strategies. Technological advancement along with increasing investment in R&D activities for better production will give the market contenders an edge over competitors. The key players profiled in the report are Titanos, VB Technochemicals, Ltd., Kremer Pigments, DowDuPont, Inc., American Elements, Venator Materials Plc. and Langfang Pairs Horses Chemical Co.