Analysis of Lithopone market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global market for lithopone is estimated to grow at a moderate CAGR of over 4% during the forecast period (2019-2027) and the lithopone market size is set 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. The active role of chemicals in the 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 that 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.
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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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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.
Lithopone usually releases VOC (volatile organic compound) when used as cross-linking and binding 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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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
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.
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Functional additives (Lithopone) provide a wide variety of benefits such as metal-deactivation properties for plastic formulators.
Consumption of lithopone will increase significantly in Asian countries especially in construction materials and paints and coatings by over 2.5 percent.
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