Lithopone Market to Perceive Substantial Growth During 2017-2025
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Lithopone is applicable in plastic and polymer industries for its polymerization enhancing properties which help to reduce plastic production costs, fueling its consumption. Growing R&D investments by leading companies for product expansion and advancements in production technology are factors escalating the production of the compound.
Reportedly, the global lithopone market forecast is estimated to exceed USD 235 million by 2025 with regard to annual remunerations. Frequent consumption of graphics and packaging inks owing to better standards of living, coupled with growing e-commerce activities, have broadened the use of lithopone products.
It acts as an inert, opaque pigment for inks and paints to rush the ink's volume without interrupting its viscosity, impacting lithopone production. Reportedly, 60% lithopone industry in the U.K. is anticipated to exceed USD 1.5 million in value by the end of 2025.
The Canadian lithopone industry is pegged to cross an annual valuation of USD 2.5 million by 2025 through earnings from paint and coating applications. There has been growth in industrial activities to meet increasing consumer product demands. Reduction of costs in powder coatings and emulsion paints along with growth of the coating’s lifespan and declining film cracking will fuel lithopone market trends.
Value additions through rubber applications
The rubber application for lithopone market is expected to record notable gains up to 2025. Continual uses in pigmentations of organic and synthetic elastomers and enhanced performances in rubber blends have boosted lithopone adoption. Simultaneously, rising adoption of rubber goods in aerospace and automotive industries will escalate the consumption of the compound.
Adverse effects with prolonged use
Gradual replacement of lithophone components to titanium dioxide owing to its low durability and refractive index are unfavorably restricting the market forecast. Use of lithopone for elongated time durations can lead to eye and skin irritations in humans and hamper the lipophore product demand.
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Lower costs of lithophone in contrast to titanium dioxide can positively influence the industry trends. For instance, Lithopone 30%L, a product of Lithopone, supplied by Venator Materials, has partially replaced titanium dioxide and is apt for natural elastomers and sealing mixtures. The product imparts strength and higher ultimate elongation.
The use of lithophone in manufacturing reduces overall system costs along with increasing the coating lifespan through reduced in-film cracking and improved color retention. The coronavirus pandemic has currently stalled the industry growth with slight deductions in the productions.
However, the gradually resuming of industries will augment the lithopone market demand and foster growth post COVID-19. Top manufacturers contributing and providers of lithopone are strengthening their marketing network by building distribution strategies through partnerships, mergers and acquisitions. The leading manufacturers include VB Technochemicals, Kremer Pigments, American Elements, DowDuPont, Inc, Langfang Pairs Horses Chemical Co., Ltd, Titanos. and Venator Materials Plc.
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