Global Lead Chemicals Market to Pick Up 2.3% CAGR During 2018-2028, Rising Demand for Mining and PVC Stabilizers Drives Growth
The global Lead Chemicals market was valued at US$ 1,326.1 Mn in 2018 and is expected to reach US$ 1,657.4 Mn by 2028 at a CAGR of 2.3%.
Lead chemicals or lead-based chemicals are chemical compounds produced from lead. Chemicals such as lead acetate, lead chloride, lead nitrate, lead stabilizers, etc. find numerous applications in various industries such as paints and coatings, mining, gold refining, explosives, textiles, chemicals, cosmetics, etc. Chemicals such as lead nitrate was earlier used in production of pigments for paints and coatings industry, however, these paints were phased out with less harmful titanium dioxide paints. Lead acetate was initially used as a sweetener and sugar substitute, and in later years in cosmetics and as a chemical reagent. Chemicals such as tribasic lead sulphate (TBLS), dibasic lead stearate (DBLS), dibasic lead phosphite (DLP) and lead stearate (LS) have proven as a cost-effective stabilizer used for PVC. These compounds prevent decomposition of PVC, providing excellent heat and light stability, good electrical and mechanical strength and enhanced processing range used for a variety of applications such as PVC profiles, pipes, cables, etc.
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Use of lead chemicals such as lead chromate, lead oxide, lead tetra oxide, etc. for use in paints and coatings industry as pigments is expected to boost growth of the global lead chemicals market.
However, according to the International Agency for Research on Cancer (IARC), lead and its compound are considered carcinogenic and studies have shown that exposure of any kinds to lead results in severe disorders in humans, which is a factor expected to restrain growth of the target market. Nonetheless, Adoption of lead chemicals for such as lead acetate, lead nitrate, lead molybdate, etc. for pigments used in dyes for textiles is also on the rise. Robust growth of the global textiles industry is another major factor expected to propel growth of lead chemicals market over the forecast period.
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Global Lead Chemicals market is segmented on the basis of product type, application and region. On the basis of product type, the market is segmented into Lead Nitrate, Lead Acetate, Lead Stabilizers, Lead Chloride and other products. The Lead Acetate segment accounts for the majority share, followed by Lead Stabilizers segment. On the basis of application, the market is segmented into Mining, PVC Stabilizers, Pigment and Dyes, and Other Applications. The Pigment and Dyes segment accounts for a majority share in the global Lead Chemicals market.
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On the basis of region, the market is segmented into North America, Europe, China, Japan, India, South America, Middle East Africa and Rest of the World. The China accounts for the majority share in the global Lead Chemicals market and is expected to register highest growth rate over forecast period.
The research report on the global Lead Chemicals market includes profiles of some of major companies such as Hammond Group, Inc., Baerlocher GmbH, Orica Limited, 5N Plus Inc., Gillanders Arbuthnot and Company Limited. (Waldies Limited) and L.S. Chemicals and Pharmaceuticals.