Lithopone Market Outlook - 2020–2027
The global Lithopone market size was valued at $169.8 million in 2019, and is projected to reach $218.6 million by 2027, growing at a CAGR of 3.3% from 2020 to 2027.
Lithopone is an inorganic white pigment, obtained from co-precipitation of Zinc sulfide (ZnS) and Barium sulfate (BaSO4). As a white pigment, it acts as a cost-effective alternative for TiO2. Some of the properties of Lithopone include high brightness and performance under UV exposure. Lithopone requires less wetting agent to achieve optimum wetting of its surface. It is commercially graded on the basis of amount of ZnS. Its grades include 28%, 30%, and 60% ZnS. As a comparatively inexpensive white pigment, Lithopone is presently used in various paint formulations, road marking paints, jointing compounds, and putties.
Due to its low binder requirement, lithopone provides paints with good flow and application properties. In the plastic processing industry, it is added to plastics to increase the plastic product’s UV tolerance, thus increasing its outdoor life. In the leather industry, it is one of the sulfide-based white pigments. It is also used in the production of linoleum floorings.
Developments in the paints & coatings industry and increase in plastic products are some of the major drivers of the global Lithopone market. It is used in paints and coating systems such as emulsion paints, as a partial replacement for Titanium Dioxide (TiO2) without loss of quality. The demand for white pigments in the plastic processing industry is projected to grow during the forecast period. Lithopone is added to plastic resin systems to enhance UV protection of the final plastic products that includes outdoor plastics and automotive plastics. It is used as a white pigment for plastics such as polyolefin, vinyl resin, ABS resin, polystyrene, polycarbonate, nylon, and polyoxymethylene (POM). It ensures that UV rays do not penetrate and damage the product and its appearance.
The major restraint to the global Lithopone market is the availability of numerous white pigment substitutes. It can be replaced by other inorganic white pigments such as Titanium Dioxide (TiO2) and Sachtolith. Among these substitutes, the introduction of TiO2 has reduced the commercial importance of Lithopone white pigment. Compared to other white pigments, TiO2 has high brightness and refractive index, which results in lower pigment loading.
Developing new Lithopone formulations, one that enhances the properties of the existing Lithopone is anticipated to boost the demand for Lithopone white pigment during the forecast period. Reinforced Lithopone is one such development, wherein a copolymer is added to the polymerization reaction to yield Lithopone with increased weather resistance. Moreover, development of nano-scale Lithopone is anticipated to attract market interest during the forecast period.
The Lithopone market is segmented into application, and region. The major applications studied in the global Lithopone market report include paints & coatings, plastics, printing inks, paper & pulps, rubber, leather, linoleum, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global Lithopone market is highly consolidated and a major bulk of Lithopone is produced in China. Some of the major Lithopone producers include Anhui Union Titanium Enterprise Co. Ltd., Fengchen 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, and ZhengZhou Sino Chemical Products Co. Ltd.
The global Lithopone market report provides in-depth competitive analysis as well as profiles of these major players.
Lithopone market, by region
Asia-Pacific accounted for the largest revenue share in 2019. China and India are the key markets in the region that have a growing paint and plastics industry, owing to rise in urbanization and industrial developments such as in automotive and construction domains.
Asia-Pacific is the fastest growing segment
Lithopone market, by Application
The paints & coatings segment contributed the largest in the global Lithopone market share. It is added to paint as a white pigment to enhance its surface properties such as UV resistance and resistance to fungicidal and algae growth.
Paints and Coatings segment is the fastest growing segment
Key benefits for stakeholders
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current Lithopone market trends and future estimations from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Lithopone Market Report Highlights
Key Market Players
NATURAL PIGMENTS INC., HENAN PREMTEC ENTERPRISE CORPORATION, VENATOR MATERIALS PLC, TITANOS GROUP, LANGFANG PAIRS HORSES CHEMICAL CO. LTD., VB TECHNOCHEMICALS SA, ANHUI UNION TITANIUM ENTERPRISE CO. LTD., FENGCHEN GROUP CO. LTD., ZHENGZHOU SINO CHEMICAL PRODUCTS CO. LTD., NOAH TECHNOLOGIES CORPORATION
Lithopone is one of the many white pigments currently available in the pigments market. Currently, the demand for Lithopone is driven by use of white pigments in the paint and plastic industry. Titanium Dioxide (TiO2) has replaced Lithopone in many applications. Such a trend poses a huge threat to the global Lithopone market. However, compared to Titanium Dioxide (TiO2), Lithopone is cheaper and has low bonder requirement. It has a significantly lower specific surface area than titanium dioxide and therefore, requires less wetting agent to achieve optimum wetting of its surface.
Presently, the demand for Lithopone is driven by the paints & coatings and plastic processing segments. In addition, Lithopone is also used in printing inks, rubber products, cometic ingredients, and leather dying.
The COVID-19 pandemic has negatively affected the key sectors such as building & construction, automotive, and plastic industries. This is expected to disrupt the global Lithopone market during the forecast period.
The global Lithopone market is segmented on the basis of application and region. On the basis of application, the paint & coatings segment held the largest Lithopone market share in 2019. It is also projected to grow at the fastest CAGR of 4.20%.