Global Lithopone Market
Global Lithopone Market Size By Product, By Application, By Geographic Scope And Forecast
According to Verified Market Research, The Global Lithopone Market was valued at USD 177.20 Million in 2018 and is projected to reach USD 260.38 Million by 2026, growing at a CAGR of 5.03% from 2019 to 2026.
Lithopone is a combination of Barium Sulfate and Zinc Sulfate. It is called Inorganic white pigment. Widely used as the white pigment of plastics such as polyolefin, vinyl resin, ABS resin, polystyrene, polycarbonate, nylon, and polyoxymethylene (POM), also for paint ink, grinding wheel and plaster. It is used as a colorant for rubber products, linoleum, leather, paper, enamel. Lithopone is generally used in paints and coating industries for solvent-based paints and high gloss applications. Lithopone acts as an alternative that is quite cheap in comparison with titanium dioxide, binders, and additives without bringing down the quality. The companies prefer using Lithopone in place of titanium dioxide, binders, and additives due to its less demand for the binder in comparison with treated rutile TiO2.
Lithopone has its applications in several industries, out of which, paints and coatings also make use of the compound in large scale proportions. Paints and coatings are used in a variety of domains, such as the construction industry, automobile sector, and manufacturing, and hence the demand for lithopone remains high. Following this trend, the market for lithopone is anticipated to have large-scale progress in the North American countries on account of the significant use of paints and coatings in different industrial domains.
Lithopone is used in the paper industry as a filler as well as pigment. As a result of the growing trend in Europe’s paper industry, Lithopone being one of the key raw materials used in the production of paper is also anticipated to show the same pattern of significant growth during the forecast period.
Although Lithopone has a wide range of application in several industries, it has its own disadvantages, such as it may cause eye and skin irritation. It is also looked at as an inferior whitener when compared to other white pigments. Lithopone has mostly been replaced by Titanium due to its durable nature and high refractive index. Hence, the availability of substitutes may hamper product demand during the forecast period. However, increasing demand for lightweight plastics for fuel-efficient vehicle manufacturing is probable to drive growth in the lithopone industry.
On the basis of product, the market is classified into Lithopone 28%, Lithopone 30%, Lithopone 60%. The Lithopone 30% is further bifurcated into Coated and Untreated. The Global Lithopone market for 28% is expected to have the largest market share followed by 30%, owing to its large-scale use in several industries, such as paints and coating, paper, rubber, ink, thermosetting plastics, leather, ceramic and pigment.
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