DUBLIN, Jun 21, 2021--(BUSINESS WIRE)--The "Lithopone Market by Application: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global Lithopone market was valued at $169.8 million in 2019, and is projected to reach $218.6 million by 2027, growing at a CAGR of 3.30% from 2020 to 2027.
Lithopone is an inorganic white pigment, obtained from co-precipitation of Zinc sulfide (ZnS) and Barium sulfate (BaSO4). Titanium Dioxide (TiO2) has replaced Lithopone as a white pigment in majority applications as TiO2 is more durable. However, it is much cheaper than TiO2 and has advantages such as low binder requirement and good dispensability. As a white pigment, it can improve the substrate's weather resistance, and improve the fungicidal properties of paint formulations. Some of the major applications of Lithopone include manufacturing of paint pigments, plastic & rubber products, paper, printing inks, cosmetics, and leather & linoleum products. It is commercially available under names such as pigment white 5, Barium zinc sulfate sulfide, Becton White, C.I. 77115, Charlton White, Enamel White, and Zincolith. On the basis of content of ZnS, Lithopone is available at 28%-30% Lithopone and 60% Lithopone.
The surge in demand for interior and exterior paints and use of plastic across various end-use industries drive the global Lithopone market. Lithopone white pigment is used in paints and coating systems that find applications in residential and industrial landscapes. Hence, as the construction & building sector flourishes, the demand for building and architectural materials such as paints and coatings will increase. This trend is conducive for the Lithopone market growth. In addition, white plastic materials are increasingly being used in consumer products. Developments in plastic forming technology is anticipated to indirectly boost plastic production, thus, increasing the demand for white pigments during the forecast period.
The availability of other white pigments poses a major challenge for the Lithopone market during the forecast period. Other alternatives to Lithopone include Zinc White, Titanium Dioxide, Calcium Carbonate, Blanc Fixe, and Barytes. The use of TiO2 has reduced the commercial significance of the Lithopone in the pigments industry.
Developing new Lithopone formulations, one that enhances the properties of the existing Lithopone is anticipated to boost the demand for Lithopone white pigment during the forecast period. Reinforced Lithopone is one such development, wherein a copolymer is added to the polymerization reaction to yield Lithopone with an increased weather resistance and an anti-ultraviolet property. Moreover, development of nano-scale Lithopone is also anticipated to attract market interest during the forecast period.
The major applications studied in the report include paints & coatings, plastics, printing inks, paper & pulps, rubber, leather, linoleum, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
Key benefits for stakeholders
Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future estimations of the Lithopone market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
Use of Lithopone in the paints & coatings industry:
Growing use of Lithopone in the plastics processing industry
Increasing end-uses of rubber products:
Availability of alternative inorganic white pigments, mainly Titanium Dioxide (TiO2) pigments
New product development
Anhui Union Titanium Enterprise Co. Ltd.
Fengchen Group Co. Ltd.
Henan Premtec Enterprise Corporation
Langfang Pairs Horses Chemical Co. Ltd.
Natural Pigments Inc.
Noah Technologies Corporation
VB Technochemicals SA
Venator Materials PLC
ZhengZhou Sino Chemical Products Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/gupdq5
View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005332/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900