The surge in demand for interior and exterior paints and use of plastic across various end-use industries drive the global Lithopone market. Lithopone white pigment is used in paints and coating systems that find applications in residential and industrial landscapes. Hence, as the construction & building sector flourishes, the demand for building and architectural materials such as paints and coatings will increase. This trend is conducive for the Lithopone market growth. In addition, white plastic materials are increasingly being used in consumer products. Developments in plastic forming technology is anticipated to indirectly boost plastic production, thus, increasing the demand for white pigments during the forecast period.

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.