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Lithopone Market Size
- Report ID: GMI3518
- Published Date: Sep 2024
- Report Format: PDF
Lithopone Market Size
Lithopone Market size achieved USD 218 million in 2023 and will grow at 4.5% CAGR from 2024 to 2032. Rapid development in the polymers and plastics industry will positively impact market growth. The product, owing to chemical inertness and low abrasiveness, has applications in the plastic manufacturing sector. Rising plastics demand for producing light weight vehicles will boost market growth.
Rising disposable income and changing purchasing patterns of consumer will boost leather industry growth. Leather goods market is expected to witness substantial gains over 5% by 2025. Lithopone is used to fill tears and holes in leather goods. Rising leather goods demand due to their fancy and stylish appearance will amplify lithopone industry growth.
Lithopone is co precipitated combination of barium sulphate and zinc sulphide. It functions as a cost-effective alternative of titanium dioxide. Titanium dioxide and lithopone’s combination helps to decrease lacing and improves mechanical properties in plastic industry. The product aids in reducing overall system costs. Lithopone overcomes the limitations of lead carbonate of poor weathering and high toxicity.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Lithopone Market Size in 2023: | USD 218 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 331 Million |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 172 |
| Segments covered: | By Product, By Application and By Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The global Lithopone market is poised for growth driven by several factors. The expanding paints and coatings industry is a significant catalyst, as Lithopone's properties make it an effective white pigment and opacifier. The rising demand for paper products further supports market expansion, as Lithopone is used in paper coatings to enhance brightness and opacity. Additionally, the increasing consumption of plastic products boosts the need for Lithopone, which is utilized to improve the quality of plastic materials. However, the availability of alternative pigments and opacifiers poses a challenge to market growth, potentially impacting demand for Lithopone. As these dynamics evolve, the market's trajectory will be influenced by the balance between these growth drivers and competitive pressures from substitute products.
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Lithopone Market Scope
