February 03, 2020
According to a recent study titled ‘Lithopone Market Size By Product (Lithopone 28%, Lithopone 30% [Coated, Uncoated], Lithopone 60%), By Application (Paints & Coatings, Plastics, Printing Inks, Paper & Pulp, Rubber, Leather, Linoleum Flooring), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global Lithopone market is anticipated to exceed USD 235 million by the year 2025.
Growing demand for lightweight plastic material for developing fuel-efficient vehicles is a major factor driving the lithopone market growth. This product offers polymerization enhancing and brightening property and hence is extensively used in plastics & polymer industry. It helps in decreasing processing costs and surging extruder yields of plastics.
In terms of product, UK 60% lithopone market is expected to cross USD 1.5 million by 2025. Factors such as rising consumption of graphics and packaging inks owing to expanding e-commerce activities and improving standard of living could play a crucial role in driving the demand for 60% lithopone. Moreover, the product is an opaque pigment and acts as an extender in inks, helping to surge inks volume without upsetting its viscosity, which is further aiding market expansion.
On account of lithopone’s low refractive index and durability, manufacturers prefer to use titanium dioxide. Thus, the availability of potential alternatives could affect industry growth over the coming years. Also, exposure of lithopone over an elongated period could cause eye and skin irritation. These elements could prove detrimental to its global demand and prices. Nevertheless, lithopone is relatively less expensive than titanium dioxide.
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In terms of regional aspects, North America lithopone market is expected to offer lucrative opportunities over the forecast period. Canada lithopone market is projected to cross USD 2.5 million by 2025 owing to its increasing application in paints & coatings industry. lithopone helps lower the overall cost for emulsion paints and powder coatings. Meanwhile, it also extends the coating’s lifespan as well as reduces film cracking.
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