Functional Additives Demand for Plastic Manufacturing Increases Consumption by Nearly 1.5X
The global market for lithopone is estimated to grow at a moderate CAGR of over 4% during the forecast period (2019-2027) to reach a valuation of over US$ 250 Mn. Today, functional additives provide a wide variety of benefits such as metal-deactivation properties for plastic formulators. Active role of chemicals in manufacturing of plastics and glass enforced plastic will increase the consumption of lithopone across the globe.
Ongoing demand for functional additives will positively impact the growth of the global lithopone market and optimize performance in terms of resin systems and colored products. As plastic is a highly indispensable material which is used in almost every sector, many plastic companies look forward to new developments in the field. The market is set to witness large-scale consumption in the foreseeable future.
Accelerating Automotive Industry Amps up Growth of Lithopone in Tire Manufacturing
Lithopone is well adapted for whitening cheap compounds popular in the rubber industry. The overall industrial rubber market has expanded with an extensive variety of end uses. APAC is considered as a hub of natural rubber production; developing countries are the regions which drive the lithopone market. Rubber is the most significant application of lithopone.
Also, lithopone provides pigment properties to rubber which enhances the frictional heat absorption ability of rubber. Demand for high performance rubber especially in rubber tires has pushed the consumption of lithopone in rubber manufacturing. This will accelerate the overall growth of global market in near future
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Asia Pacific to Trigger Expansion of Lithopone Market at More Than 5 % CAGR
Consumption of lithopone will increase significantly in Asian countries especially in construction materials and paints and coatings by over 2.5 percent. Lithopone market is seeing rapid growth amid additive manufacturers in Asia Pacific. Market has experienced significant growth in terms of production and consumption of lithopone in Asia Pacific.
Primary drivers for growth of lithopone market in Asia Pacific is significantly increasing newer applications in paints and coating sector as well as the plastic industry. The region has developing countries, such as India, Malaysia, Taiwan, South Korea and many more. These countries have fast developing paints and coating, leather and rubber sectors.
Regulations to Minimize VOC Emissions Hampers Lithopone Market Growth
Lithopone usually releases VOC (volatile organic compound) when used as binders and cross-linking agents, which produces an unpleasant and strong odor that is harmful to both humans and the environment.
World Painting and Coating Industry Association (WPCIA), which includes representation from countries, such as Brazil, U.S, Mexico, U.K, European Union, India, China, Canada, France, Japan, Germany, monitors and makes guidelines to reduce hazardous waste released and formed in decorative paints industries.
Getting in sync with regulations from various government and non-government organizations, manufacturers are focused on introducing lower VOC lithopone and utilizing it as an opportunity for revenue generation
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Lithopone Manufacturers in APAC Benefit from Paints & Coating Boom
Global lithopone market is considerably fragmented in nature with the majority of players based in China. Reactive technologies, multi-functional additives, hybrid polymers /blends are among some of the key developments observed in the market.
Players are extensively focused on the development of lower VOC emission products and commercializing the same at competitive prices for gaining high-profit margins. Also, players are focusing on expanding their business footprints across Southeast Asia owing to high consumption of plastic and polymers in industrial sector.
The Shanghai Yuefang Industry & Trade Development Co., Ltd., is a company based out of China that offers more than 30 components of lithopone and similar components. Moreover, they plan to expand extensively over the coming few years, thereby contributing towards geographical expansion of the global lithopone market
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Global Lithopone Market: In-Depth Assessment on Key Segments
The global lithopone market is segmented on the basis of product, application and region.
Country-specific assessment on demand for lithopone has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous lithopone manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Lithopone Market – Scope Of The Report
The following report provides forecast and analysis of the global lithopone market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global lithopone market along with several macro-economic indicators. This newly published and insightful report on lithopone sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global lithopone market.
The report also comprises the study of current issues with end users and opportunities for lithopone. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of lithopone manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the lithopone market provided in the report adds to the credibility of this exhaustive research study.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the lithopone market are Evonik Industries AG, Wacker Chemie Ag, COLCOAT and others.
Global Lithopone Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the lithopone market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the lithopone market, which includes global GDP growth rate, paints and coating sector growth, chemical sector growth and others.
This report serves as an authentic resource of intelligence on the lithopone market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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