A report by Global Market Insights Inc. published in June 2020, revealed the lithopone market is expected to reach $235 million by 2025.
Covid-19 has put a stop to global economy, the market shares from different walks of life has been affected. However a recent market report revealed Lithopone. Lithopone is a chemical that has widespread use in leather industry; it is generally used to fill the holes and tears in leather goods. Though in recent times the artificial leather is gaining popularity than the organic leather, however due to the widespread application in leather, plastic, paints, rubber, coating industry and automotive industries, the market of lithopone is expected to expand.
Due to widespread application in automotive industry India and China has potential to be thriving successful in the years to come. According to statistics China is one of the major automobile producers in the world and also holds almost 60% of the business shares of overall APAC coating market. Moreover due to the presence of massive raw material has led to increase in leather market in India (Leather Products from India accounted for $1,420 million during April, 2018 to June, 2018). During years it has been seen Governments have taken measures to expand the Leather market and as a result indirectly enhancing the Lithopone market.
by Sayak Nandi
Information Links: https://www.marketwatch.com.com/press-release/lithopone-market-size-is-set-to-surpass-usd-235-million-by-2025-2020-06-26
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