Lithopone Market size is set to surpass USD 235 million by 2025 | By key players American Elements, Heera Chemicals, Zhengzhou Vidar Water Industrial Co.Ltd, Titanos, DowDuPont, Inc.

A report put forth by Global Market Insights, Inc., predicts that the lithopone market is anticipated to reach a valuation of USD 235 million by 2025 end, given its widespread applications in leather, plastics, paints and coatings, and automotive industries.

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An innate sub-vertical of the bulk and specialty chemicals industry, lithopone market, has been witnessing a profitable growth curve over the past few years. This can be undeniably credited to its massive traction in myriad application segments and rising investment in leather, paint, paper, and cosmetic industries. Moreover, what has augmented the use of lithopone in these industries is the environment concerns subject to the extensive use of chemicals.

Leather has become of the most widely traded commodities worldwide, and this has rendered a positive impact on the global leather industry. The leather industry, is potentially driven by the elevating consumption of leather for footwear, furniture, purses, interior design industries, and much more. Lithopone is generally used to fill holes and tears in the leather goods, and this measure has inclined consumers’ preference for high grade leather goods, amplifying the lithopone market outlook.

Furthermore, considering the sufficient availability of raw materials and massive population of cattle in the region, India has evolved as one of the profitable business destinations for leather trade globally. In fact, according to statistics presented by the Indian Brand Equity Foundation, exports of leather and leather products from India accounted for USD 1,420 million during April 2018 to June 2018.

In line with this, government intervention for increasing the leather industry statistics has also been playing a pivotal role over the years in the lithopone market expansion. For instance, it was earlier announced that the Punjab state government was looking at signing multiple agreements with French firms pertaining to different sectors, inclusive of the leather industry.

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Given that that demand for leather has been significantly rising all across the globe over the past few years, it is needless to mention that the product stands as a basic necessity in the automotive industry as well. Thus, it is no surprise that expanding automotive industry can add to the exponential growth of lithopone market.

Considering the regional aspects of lithopone and automotive industry connection, it is overt to state that China has emerged as a hub for automotive manufacturers, that have been fueling the demand for leather, paints, and paper. As per statistics by American coatings Association, China has a business share of over 60 per cent of the overall APAC coatings market. In this regard, it can aptly be cited that China lithopone market carries the potential of thriving successfully in the ensuing years.

Related News:

https://www.marketwatch.com/press-release/neopentyl-glycol-market-is-likely-to-exhibit-promising-gains-from-paints-and-coatings-industry-2020-05-22

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.