Global Titanium Dioxide Nanoparticles Market Highlights over 2022 – 2030
The global titanium dioxide nanoparticles market is estimated to grow at a CAGR of ~14% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing applications of titanium dioxide nanoparticles in various industries, such as, chemical, petrochemical, paper, and others. Titanium dioxide nanoparticles possess different physiochemical properties than its fine particles, such as, higher bioactivity, which is estimated to boost the demand for nanoparticles over other forms of titanium dioxide. Increasing use of these particles in the pharmaceutical industry as pigment for gelatin capsules and tablet coatings, is also expected to boost the market growth. The pharmaceutical industry was valued over USD 1.2 trillion in 2019, and has experienced tremendous growth in 2020-21, which is anticipated to positively influence the market growth. Moreover, the growth in the construction industry is also expected to boost the market growth, owing to the growing usage of titanium dioxide nanoparticles for paints and coatings.
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The market is segmented by application into paints & coating, pharmaceuticals, plastics, inks, and others, out of which, the paints & coatings segment is anticipated to hold the largest share in the global titanium dioxide nanoparticles market over the forecast period on account of increasing use of titanium dioxide nanoparticles in the paint & coating industry, as it provides higher opacity and brightness to the paint. The high refractive index of these particles makes the paint brighter, opaque and provides better coverage. Moreover, the paint with added titanium dioxide nanoparticles is more durable, which is estimated to boost the segment growth.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Titanium Dioxide Nanoparticles Market Regional Synopsis
On the basis of geographical analysis, the global titanium dioxide nanoparticles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of growing technical research in the region, with high investment in the R&D for advanced technological innovations in the field of medicines. Moreover, presence of major pharmaceutical companies in the countries, such as, Canada and United States, is estimated to boost the market growth.
The market in the Asia Pacific is estimated to garner significant share over the forecast period owing to the increasing investment in the pharmaceutical companies and growing generic drugs industry in countries, such as, China, and India. For instance, according to the data by the India Brand Equity Foundation (IBEF), the pharmaceutical market in India exported vaccines and generic drugs worth USD 24.44 billion in FY21. Moreover, APAC region is the nucleus of chemical industry, which is estimated to further fuel the market growth.
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The global titanium dioxide nanoparticles market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global titanium dioxide nanoparticles market includes the following segments:
By Form
- Anatase
- Rutile
- Brookite
- Others
By Application
- Paints & Coating
- Pharmaceuticals
- Plastics
- Inks
- Others
Growth Drivers
- Increasing Application in the Pharmaceutical Sector
- Higher Bioactivity of Titanium Dioxide Nanoparticles
Challenges
- Very High Production Cost
Top Featured Companies Dominating the Market
- Ishihara Sangyo Kaisha, Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- LB Group
- TAYCA
- Iluka Resources Limited
- Evonik Industries AG
- CINKARNA Celje d.d.
- KRONOS Worldwide, Inc.
- INEOS AG
- Venator Materials PLC.
- Tronox Holdings plc
