Lithopone Market is estimated to reach a valuation of over US$ 250 Mn by the end of 2027
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.
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.
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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.
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