This white pigment composed of barium sulfate and zinc sulfide, is influenced by several market drivers and trends. One significant driver is the expanding demand for lithopone in the paint and coating industry, owing to its excellent hiding power and (ultraviolet) UV resistance. The construction sector also propels the market growth of this compound, as it is widely used in architectural coatings for its durability and weather resistance. Additionally, the rising popularity of lithopone in the plastic and rubber industries, driven by its ability to enhance product opacity and stability, contributes to market expansion. Trends in this compound market include a growing emphasis on eco-friendly alternatives, stimulating research and development of sustainable production processes. Furthermore, the increasing focus on product quality and performance, along with advancements in nanotechnology applications, presents new opportunities for lithopone market players. Overall, the evolving landscape of industries utilizing this compound underscores its dynamic market, driven by both traditional applications and emerging trends.

A steep decline in the prices of titanium dioxide was observed in the second half of 2022 as the erratic energy costs along with rising covid cases affected the market negatively. In addition to this, the decreased offtakes from paints and coating industries, weak economic growth, and strict restrictions imposed to deal with the resurgence of covid cases further aided the declining trajectory of titanium butoxide prices.

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Because of its unique pigment and fine-milled texture, titanium dioxide has become popular over the past century in a wide variety of different products. These include adhesives, paints, plastics, rubbers, textiles, inks, ceramics, and even some pharmaceuticals, foods, and hygiene products.