Jan 27, 2020
Notable Demand for High Mechanical Performance Additives Amps up Lithopone Market Growth By 1.8X, Says Fact.MR
by Team Fact.MR
The global lithopone market is projected to grow at a CAGR of over 4% and is estimated to reach a valuation of over US$ 250 Mn by the end of the forecast period (2019-2027). In the past decade, inorganic pigment industry went through significant developments. The market developed new application areas such as plastics, building & construction and paints & coatings which created new opportunities for growth of lithopone market. Demand has remained moderate in western economies while APAC countries are likely to witness above-average growth. High mechanical performance and easier extrusion proliferates consumption of lithopone in plastic and glass-reinforced plastic manufacturing. Many innovations and technical advancements are witnessing a prolific increase in the usage of additives for high efficacy. This factor increases consumption of lithopone in several new applications and will positively impact the market growth in the near future.
Key Takeaways of Lithopone Market
- Rubber is the most important application of lithopone. Rubber compounding remains significant area for lithopone consumption and the segment is expected to grow at a CAGR of over 5%, says Fact.MR
- According to the Fact.MR study, high mechanical performance in plastic amps up the demand of lithopone in plastic manufacturing and the plastic segment will experience growth of over 4% in the foreseeable future
- Demand has remained stagnant in western countries, while market has shown an increase in Asia-Pacific countries such as China, India, South Korea, Taiwan and others Asia-Pacific is anticipated to experience significant growth of over 5% in the long term forecast period.
- China has taken a leading position with more than one third share in lithopone market and has become the major global supplier. The rapid development in China’s chemical manufacturing as well as increased demand for functional additives in domestic plastic production has propelled the Chinese lithopone market
- Market is considerably fragmented in nature with the majority of players based in China
“Increasing demand for advanced solution in plastic and rubber industries have soared consumption of pigments and additives to enhance the overall performance of lithopone market in long term forecast period.” says the Fact.MR analyst
Innovative, Sustainable Solutions to Unleash Accelerated Growth
Companies need to focus on strategic partnerships to improve their global market presence. Moreover, prominent players are investing in development of products to increase consumption across new applications to cater to the growing demand of lithopone. Some of the other leading players in the global lithopone market are VB Technochemicals SA, Kremer Pigments, Zhengzhou Chemicals and others
Find More Valuable Insights on the Lithopone Market
Fact.MR, in its new offerings, brings to fore an unbiased analysis of the global lithopone market, presenting historical demand data (2013-2018) and forecast statistics for the period, 2019-2027. The study divulges compelling insights on the lithopone market on the basis of product (Lithopone 28%, Lithopone 30%, Lithopone 60%), application (Paints & Coatings, Plastics, Printing Inks, Rubber, Leather, Others), across several regions.
>>> To Get more insights on lithopone market, visit- https://www.factmr.com/report/4481/lithopone-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemical industry insights, visit here.