The global lithopone market is set to rise at a moderate CAGR of 4% between 2019 and 2027, according to the projections of a new study by Fact.MR. Leading manufacturers of lithopone are investing efforts in the commercialization of eco-friendly offerings to gain traction among end-use industries.
“Rising demand for novel solutions from plastic and rubber industries has boosted consumption of pigments and additives, which will support the overall performance of lithopone market in the long term,” says the Fact.MR report.
Rubber compounding remains the primary application area for lithopone. Demand for lithopone in developed economies has largely stagnated, while displaying steady growth in Asia Pacific. A third of the global lithopone manufacturing industry is concentrated in China. The lithopone market is set for a major overhaul in the near future, as governments continue to push for conventional plastic alternatives.
Key Driving Factors
Extensive consumption of plastic by all industrial verticals will continue to sustain growth of the lithopone industry. The paints & coatings industry is projected to emerge lucrative, with large-scale lithopone adoption. Role of pigments in sustaining durability of rubber compounds would bolster production of lithopone.
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Key Market Restraints
Strict environmental regulations prohibiting the use of plastics is a key restraint for lithopone manufacturers. Surge in demand for low- or no-VOC compounds continues to limit market growth.
The global lithopone market is largely fragmented. Industry leaders are focusing their efforts on hybrid polymers, reactive technology, and multi-functional additives to remain ahead of the competition. Companies are also focusing on development of low-VOC options for greater profit margins. The report provides a detailed analysis of the profiles and strategic developments of key players in the global lithopone market, which include but are not limited to, Zhengzhou Chemicals, VB Technochemicals SA, and Kremer Pigments.
About the Report
This 200+ pages study provides in-depth forecast data on the lithopone market. The key categories covered by the report include product concentration (lithopone 28%, lithopone 30%, and lithopone 60%), application (paints & coatings, plastics, printing inks, paper & pulp, rubber, leather, and linoleum flooring), and 25+ countries in key regions (North America, Latin America, Europe, APAC, and Middle East & Africa).