“Global Lithopone Market By Product (Lithopone 28%, Lithopone 30% and Lithopone 60%) By Application (Paints & Coatings, Plastics, Printing Inks, Paper & Pulp, Rubber, Leather, Other) and Region- Global Market Size, Status and Forecast to 2026″, published by Verified Market Research.
The Global Lithopone Market size is projected to grow from USD 177.20 Million in 2018 to USD 260.38 Million by 2026, at a CAGR of 5.03% from 2019 to 2026. the market for lithopone is anticipated to have large-scale progress in the North American countries on the account of the significant use of paints and coatings in different industrial domains.
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In terms of Product, the Lithopone 28% segment is estimated to be the fastest-growing type in the Global Lithopone market in 2019-2026.
By Application, the market is classified into Paints & Coatings, Plastics, Printing Inks, Paper & Pulp, Rubber, Leather and Others. Global Lithopone Market for the FCC Catalyst segment is expected to be largest during the forecast period. The Paints & Coatings segment is expected to retain its dominance as FCC is a critical process in refining.
Due to lithopone’s low binder requirement, the paint products possess properties including good flow and improved application. lithopone has managed to replace titanium dioxide as the main ingredient in paints due to its cheaper cost. The choice of lithopone over titanium dioxide has not affected the quality of paints. In the automotive industry, lithopone is extensively used for coating due to its corrosion and rust prevention properties. Lithopone improved the lifetime of the coating by enhancing color retention and reducing in-film cracking.
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North America region is projected to account for the largest share in the Global Lithopone market during the forecast period from 2019 to 2026.
Within North America, U.S. is one of the major consumers of Lithopone chemicals for paints and coatings due to increasing new constructions. Moreover, people also prefer renovating and painting their residential and commercial spaces on a regular interval. This has led to the high usage of Paints and coatings within the real estate sector. Lithopone is used generally in paints and coating industries for solvent-based paints and high gloss applications. Paint manufacturers in North America are continuously seeking towards reducing their production costs which can be beneficial for their overall profits.
VB Technochemicals SA, Kremer Pigmente GmbH & Co. KG, ANHUI UNION TITANIUM ENTERPRISE CO., LTD Langfang Pairs Horses Chemical Co., Ltd, American Elements, Heera Chemicals, Zhengzhou Vidar Water Industrial Co., Ltd, Venator Materials PLC, Titanos Group, Loman Chemical Group Co. Ltd are the key players operating in the Global Lithopone market. New Launches and Partnerships are some of the major strategies adopted by these key players to enhance their positions in the Global Lithopone Market.
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