Nano Titanium Dioxide Market Latest Trends And Key Drivers Supporting Growth By 2022
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Nanoscale titanium dioxide is approximately 100 times finer than the titanium dioxide (TiO2) pigment and is commonly applicable in high-factor sun protection creams, textile fibers or wood preservatives, paints & coatings, and plastics. Factors that drive the nano titanium dioxide market are upsurge in demand for passive protective coatings, growth in penetration of UV-filters in personal care products & sunscreens, and trend towards environmental sustainability.
However, toxicity at higher concentration is expected to hamper the market growth along with rise in penetration of nano zinc oxide.
According to Eswara Prasad, Team Lead, Chemical Research at Allied Market Research, “Nano titanium dioxide market is driven by its extraordinary physio-chemical properties, which results in improved performance of end-products.”
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In 2015, cosmetics was the largest application segment, in terms of revenue and volume, with more than one-third share followed by paints & coatings, pigments, plastics, energy, and others. Furthermore, in cosmetic application nano titanium dioxide is used as UV blocker in various sunscreen applications.
Key findings of the study:
o Pigment segment is expected to witness highest CAGR of 21.9% during the forecast period.
o Paints & coatings along with cosmetic segment together account for more than two-third market share.
o Asia-Pacific is anticipated to lead the market, growing at a CAGR of 21.3%, in value terms, from 2016 to 2022.
o China, Germany, and U.S. led the global nano titanium dioxide market in 2015.
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In 2015, Europe and Asia-Pacific collectively accounted for nearly two-thirds of the worldwide demand for nano titanium dioxide and are expected to maintain their lead position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, with a CAGR of 21.3%, in value terms, followed by LAMEA, North America, and Europe.
Major players in the industry invest significantly in research & development to launch new commercial applications at low cost. Strategic collaborations & business expansion are the other major strategies adopted by some of the industry players. The major companies profiled in the report include BASF SE, Cabot Corporation, CINKARNA Celje d.d., Cristal, Croda International Plc, E. I. Du Pont De Nemours and Company, Evonik Industries AG, Huntsman International LLC, Nano-Oxides Inc., NanoScale Corporation, and Tayca Corporation.
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