According to the report by Expert Market Research (EMR), the Global Lithopone Market Size reached a value of USD 181 million in 2022. Aided by the increasing demand for cost-effective pigments and the growing applications of lithopone in various industries, the market is projected to further grow at a CAGR of 3.30% between 2023 and 2028 to reach a value of USD 219.93 million by 2028.
Lithopone is a white pigment composed of a mixture of barium sulphate and zinc sulphide. It is commonly used as an alternative to titanium dioxide in a variety of products, including paints, inks, plastics, and rubber, due to its exceptional hiding power, good heat resistance, and weatherability. Lithopone significantly improves the quality of various products by enhancing their appearance and durability.
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The increasing consumer preference for cost-effective and durable pigments is driving the global lithopone market growth. With growing awareness of the efficacy and affordability of lithopone, there has been a significant shift towards its use in various sectors, akin to the shift towards high-protein diets observed in the food sector.
Additionally, the rising trend of efficient resource utilisation in manufacturing industries has further contributed to the increasing popularity of lithopone, thus propelling the lithopone market development. Its excellent heat resistance and weatherability make it a popular choice in sectors such as paints and coatings.
The expanding applications of lithopone in various industries also play a significant role in propelling the lithopone market. In the paint industry, lithopone is used as a filler and pigment for its excellent hiding power and durability. The plastic industry utilises lithopone for its heat resistance and weatherability, which are essential in the manufacturing of various durable plastic products. Moreover, lithopone’s ability to improve product appearance makes it a vital component in the production of inks, paper, and rubber, thereby increasing the lithopone market demand.
Further, the growing concern for environmental sustainability has led to a greater focus on environmentally friendly and sustainable pigments in the manufacturing sector. As a result, lithopone has emerged as a critical component in the formulation of eco-friendly products, thereby boosting the lithopone market expansion.
Lithopone Market Segmentation
The market can be divided based on product, application, and region.
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Market Breakup by Product
- Lithopone 28%
- Lithopone 30%
- Lithopone 60%
Market Breakup by Application
- Paper and Pulps
- Rubber
- Paints and Coatings
- Plastics
- Printing Inks
- Leather
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global lithopone companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Xiangtan Red-Swallow Chemical Co. Ltd.
- Zhengzhou Sino Chemical Products Co., Ltd.
- Anhui Union Titanium Enterprise Co. Ltd.
- Wuhu Loman Chemical Co. Ltd.
- Shanghai Yuejiang Titanium Chemical Manufacturer Co. Ltd.
- VB Technochemicals SA
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