USD 187.06 million
Global Lithopone Market Size, Share, Growth Analysis, By Product(Lithopone 28%, Lithopone 30%), By Application(Paints & Coatings, Plastics) - Industry Forecast 2024-2031
Report ID:
SQMIG25J2048 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
67 |
Figures:
65
Global Lithopone Market Insights
Global Lithopone Market size was valued at USD 187.06 million in 2022 and is poised to grow from USD 239.44 million in 2023 to USD 1725.32 million by 2031, growing at a CAGR of 28% in the forecast period (2024-2031).
The lithopone market is a crucial sector within the chemical industry, primarily driven by its widespread application in various sectors, including paints and coatings, plastics, rubber, and ceramics. Lithopone, a white pigment produced from a combination of barium sulfate and zinc sulfide, is valued for its opacity, durability, and weather-resistant properties.
In the paints and coatings industry, lithopone is extensively used to enhance the whiteness and opacity of paints, making it a key ingredient in architectural paints, industrial coatings, and printing inks. Additionally, its UV-resistant attributes contribute to the longevity and color retention of coated surfaces.
The plastics and rubber industries also rely on lithopone to provide opacity and whiteness to products, particularly in applications where color consistency is crucial. Its use in plastic masterbatches and PVC products contributes to the overall aesthetic appeal of a wide range of consumer and industrial goods.
Furthermore, the ceramics sector utilizes lithopone for glazing and as a flux in ceramic formulations, leading to improved gloss, whiteness, and surface finish of ceramic products.
While the lithopone market has experienced steady growth over the years due to its indispensable role in multiple industries, environmental concerns and increasing preference for alternative pigments have presented challenges. Nonetheless, ongoing research to improve the eco-friendliness of lithopone, combined with its enduring utility in diverse applications, positions the market to adapt and continue being a valuable component in the coloration and enhancement of various products across industries.
US Lithopone Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Lithopone 28%
Fastest Growth
Lithopone 30%
Growth Rate
28% CAGR
Global lithopone market ($ Bn)
Country Share for Asia Pacific Region (%)
Global lithopone market By Product ($ Bn)
Global lithopone market By Product (%)
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Global Lithopone Market Segmental Analysis
The global lithopone market is segmented on the basis of Product, Application, and Region. Based on Product Type the market is segmented as, Lithopone 28%, Lithopone 30% and Lithopone 60%. Based on Application the market is segmented as, Paints & Coatings, Plastics, Printing Inks, Paper & Pulp, Rubber, Leather and Others. Based on Regional the market is segmented as, North America, Asia Pacific, Latin America, Middle East & Africa (MEA)
Lithopone Market Analysis By Product
The lithopone market is categorized into three key product segments: Lithopone 28%, Lithopone 30%, and Lithopone 60%. The Lithopone 30% category is additionally divided into two sub-categories: Coated and Untreated. Among these, the Global Lithopone Market for 28% is projected to command the dominant market share, with the 30% segment following closely behind. This distribution of market share is primarily attributed to the extensive utilization of Lithopone 28% in diverse industries such as paints, coatings, paper, rubber, inks, thermosetting plastics, leather, ceramics, and pigments.
The demand for Lithopone 28% stems from its widespread application across these sectors, where it plays a pivotal role in enhancing whiteness, opacity, and weather resistance. Its versatility and ability to impart desirable properties to various end products make it a preferred choice in numerous manufacturing processes. Meanwhile, the 30% category, specifically the Coated and Untreated subdivisions, contributes to the overall market share as well, further demonstrating the essential role of lithopone across a spectrum of industries, each benefiting from its unique characteristics and performance attributes.
Lithopone Market Analysis By Distribution
The market is divided into distinct application segments, encompassing Paints & Coatings, Plastics, Printing Inks, Paper & Pulp, Rubber, Leather, and Other sectors. Among these, the Paints & Coatings segment is poised to exhibit both the largest market share and the highest compound annual growth rate (CAGR). Lithopone plays a crucial role in this sector, functioning as an inert pigment. Notably, its minimal binder requirement grants paint products advantageous properties, including superior flow and enhanced application characteristics. One notable advantage of lithopone in the paints and coatings realm is its cost-effectiveness, making it an increasingly preferred alternative to titanium dioxide, the former primary ingredient. The substitution of titanium dioxide with lithopone stems from the latter's more economical price point, contributing to its growing prominence in the paints and coatings industry.
Global lithopone market By Product, 2023 (%)
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Global Lithopone Market Regional Insights
The Asia Pacific region, spearheaded by countries like South Korea, Australia, India, and Japan, is projected to experience robust growth in the lithopone market, with an anticipated increase of over 3.0% by the year 2025. This product plays a significant role in enhancing color retention, making it a valuable component in the paints and coatings industry. The region's escalating investments in the paint and coating sector for innovative product developments are expected to drive the market's expansion.
In North America, specifically in Mexico, Canada, and the U.S., the lithopone industry is set to exceed USD 55 million within the projected time frame. The product serves as a filler in the paper and pulp industry, capitalizing on its optical properties that enhance the manufacturing of paper. The rising demand for packaging paper, driven by its increased utilization, will contribute to a surge in lithopone demand.
The Brazilian market is poised for substantial growth during the forecast period due to the thriving leather industry. In Brazil, lithopone functions as a filler within this industry, which is one of the largest leather producers globally. The rising demand for luxurious garments and boots, in line with increasing leather production, will bolster the overall market size, reflecting the positive impact of lithopone in this context.
Global lithopone market By Region, 2024-2031
- Largest
- Fastest
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Global Lithopone Market Dynamics
Lithopone Market Drivers
Increasing Demand from End-Use Industries:
- The growth of industries such as paints and coatings, plastics, printing inks, and paper & pulp is a significant driver for the lithopone market. The product's versatile properties and applications in these sectors contribute to its demand.
Cost-Effectiveness:
- Lithopone's competitive pricing compared to alternatives like titanium dioxide has positioned it as an attractive choice for manufacturers, especially in cost-sensitive markets.
Lithopone Market Restraints
Environmental Concerns:
- Lithopone, like many other chemical compounds, may raise environmental concerns. Regulations regarding environmental impact and sustainability could influence its market growth.
Emerging Alternatives:
- As technology advances, alternative products that offer similar or improved characteristics might emerge, posing a threat to the market share of lithopone.
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Global Lithopone Market Competitive Landscape
The competitive landscape of the lithopone market is characterized by the presence of key industry players striving to maintain their market share and expand their reach. Established manufacturers like CRISTAL, Lomon Billions, and Venator Materials dominate the market with their strong product portfolios, extensive distribution networks, and robust R&D capabilities. These companies often focus on product innovation to meet the evolving demands of end-use industries and gain a competitive edge. Collaborations, mergers, and acquisitions are prominent strategies, enabling companies to diversify their offerings and access new markets.
Lithopone Market Top Player’s Company Profile
- Anhui Union Titanium Enterprise Co. Ltd.
- Fengshan Group Co. Ltd.
- Henan Premtec Enterprise Corporation
- Langfang Pairs Horses Chemical Co. Ltd.
- Natural Pigments Inc.
- Noah Technologies Corporation
- Titanos Group
- VB Technochemicals SA
- Venator Materials PLC
- ZhengZhou Sino Chemical Products Co. Ltd.
Lithopone Market Recent Developments
- In January 2023, Xiangtan Red-Swallow Chemical Co. Ltd., a leading manufacturer of lithopone in China, announced the expansion of its production capacity by 50%. This expansion is expected to meet the growing demand for lithopone in the Chinese market.
- In February 2023, VB Technochemicals SA, a leading manufacturer of lithopone in Europe, announced the launch of a new line of high-performance lithopone products. These products are designed to meet the stringent requirements of the automotive and aerospace industries.
- In March 2023, Heera Chemicals, a leading manufacturer of lithopone in India, announced the launch of a new line of eco-friendly lithopone products. These products are made from renewable raw materials and are designed to meet the growing demand for sustainable products.
Global Lithopone Key Market Trends
- Increasing Demand from Emerging Economies: The lithopone market has experienced growing demand from emerging economies, driven by expanding middle-class populations, rapid urbanization, and increased industrial activities, especially in regions like Asia Pacific.
Global Lithopone Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global lithopone market analysis, the lithopone market has exhibited substantial growth, influenced by its widespread use in diverse sectors. Regionally, Asia Pacific, driven by emerging economies like China, India, and South Korea, has seen significant demand due to expanding industrial activities and a growing middle-class population. Key product segments include Lithopone 28%, Lithopone 30% (Coated and Untreated), and Lithopone 60%. Among these, Lithopone 28% holds a prominent market share, utilized extensively in the paints and coatings industry, where it enhances color retention and opacity, while also offering a cost-effective alternative to titanium dioxide. The increasing focus on eco-friendly solutions, technological advancements, and demand from the paints, coatings, plastics, and paper sectors further propel the market's growth. However, regulatory compliance and environmental concerns remain critical challenges that may impact the market's trajectory.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 187.06 million |
| Market size value in 2031 | USD 1725.32 million |
| Growth Rate | 28% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Lithopone Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Lithopone Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Lithopone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Lithopone Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Lithopone Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Lithopone Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Lithopone Market Report Snapshots
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