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Oct 14, 2020 6:56 PM ET

Nano Titanium Dioxide Market Size Forecast to Reach $20 Billion by 2025


Nano Titanium Dioxid

iCrowd Newswire - Oct 14, 2020

The Global Nano Titanium Dioxide Market size is forecast to reach $20 billion by 2025, after growing at a CAGR of 20% during 2020-2025. The rapidly evolving field of nanotechnology offers potential benefits to almost all industries and products. The increasing demand for nano titanium dioxide from paints and coatings industry and biomedical applications is driving the growth of global market size over the study period. Besides, growing penetration of UV-filters in the personal care products & sunscreens and increasing trend towards environmental sustainability are also driving the growth of Nano Titanium Dioxide market size during the forecast period.

Manufacturing Method – Segment Analysis

The sol-gel segment holds the largest share of more than 30% in the Nano Titanium Dioxide market in 2019 and is projected to grow at a substantial rate over the forecast period. This growth is due to its simple operations, moderate reaction condition, and scalable production that make sol-gel based TiO2 nanomaterial suitable to use in the various application include medical and healthcare, personal care, and pharmaceutical. Furthermore, the specialty of forming a high-performance bond to a broader range of substrates drives the demand for sol-gel based Nano Titanium Dioxide over the forecast period.

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Application – Segment Analysis

The healthcare/medical segment is projected to grow to witness the highest CAGR of 23% in the nano titanium dioxide market during the forecast period. This growth is attributed to the rise in demand for titanium dioxide (TiO2) photocatalytic nanotechnology coatings to reduce the impact of COVID-19 pandemic and rising investments for the development of the healthcare/medical sectors globally. Furthermore, excellent physio-chemical properties and growing skin cancer patients from the North America and Europe region are also contributing for the growth of this segment during the forecast period.

Geography – Segment Analysis

Among the regions, the APAC region is projected to witness the highest CAGR of around 25% in the global Nano Titanium Dioxide market followed by North America and Europe during the forecast period. The growing building and construction and increased disposable income of the countries such as China and India are driving the growth of this market in the APAC region. For instance, according to the Chinese government report, the construction sector across the country is projected to witness a growth of 5.9% and 6.1% during years 2019 and 2020, respectively. Furthermore, the growing titanium dioxide mining activities across the region accelerate the growth of Nano Titanium Dioxide market share in APAC region.

Drivers – Nano Titanium Dioxide Market

Growing uses of nano titanium dioxide across various applications

The use of nano titanium dioxide offers various advantages such as high chemical and thermal stability, non-toxicity, high catalytic activity, and resistance to corrosion that makes it suitable product to be used in many applications including photo catalysis, photovoltaic, sensors, hydrogen generators batteries, self-cleaning, and electro chromic devices. Due to these benefits the demand for nano titanium dioxide is growing. Besides, the rise in number of residential and non-residential construction projects in developed and developing regions and increasing demand for anti-corrosive architectural coatings in pigments are also driving the growth of nano titanium dioxide market over the study period. For instance, in April 2017, BASF and Landa Labs announced their strategic long-term partnership at the European Coatings Show (ECS) in Nuremberg, Germany. With this partnership BASF employ Landa’s nano-pigment technology for automotive coatings. Whereas, the growing uses of nano titanium oxide for wastewater treatment in papermaking includes cooking waste liquid, washing wastewater and paper wastewater, which mainly contain a lot of lignin and various phenolic organic compounds is also driving the growth of this market.

Growing awareness about the effects of UV rays among consumers

The growing skin care awareness among the consumers in the developed and developing regions from ultraviolet (UV) radiation drive the demand for cosmetics like sunscreens. The sunscreens contain several chemicals designed to protect skin from harmful UV rays and nano titanium dioxide is one of the most important and effective substance used in sunscreens that helps to absorb UV radiation to protect the skin. Furthermore, the growing sunburn and skin cancer cases in the North America and Europe region is also driving the demand for sunscreens containing nano titanium oxides. Nanoparticles of titanium dioxide used in sunscreens remain on the outer layer of skin and are not absorbed into the skin or sub dermal tissues when applied as a cream. For instance, according to The Skin Cancer Foundation report, in the US it is estimated that the melanoma cases diagnosed will increase by almost 2 percent in 2020. Whereas, according to the UK study, it has found that about 86 percent of melanomas can be attributed to exposure to ultraviolet (UV) radiation from the sun. This growth in melanoma cases across the US is projected to drive the growth of this market during the forecast period.

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Challenges – Nano Titanium Dioxide Market

Nano Titanium Dioxide effect on marine life and environment

The increased use of nano titanium dioxide across various consumer products, industries, and medical applications has raised concerns regarding the potential exposures and subsequent human health and environmental effects. As nano-TiO2 is one of the main ingredients of sunscreen that acts as a protective against harmful UV rays. But the concentrations used in the sunscreens are harmful for the environment and aquatic organism. Additionally, when the sunscreen chemicals wash off skin and enter waterways becomes environmental hazards and also impacted the marine life such as green algae, coral, mussels, sea urchins, fish, and dolphin. For instance, in August 2018, according to the research study presented at the Goldschmidt Geochemistry Conference in Boston, it was concluded that sunscreen containing titanium dioxide polluting the beaches. In the study the researchers were found that the nanoparticles tend to lose their protective coating under the influence of UV light or seawater composition, which exposes the more toxic titanium dioxide to the aquatic environment. Besides, in May 2019, Thailand’s Ministry of Public Health (MoH) placed restrictions on using titanium dioxide and zinc oxide nanoparticles in cosmetic UV filters.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nano Titanium Dioxide market report. Major players in the Nano Titanium Dioxide Market are BASF SE, Croda International Plc., Evonik Industries AG, Nano-Oxides, Inc., Huntsman International LLC, Cinkarna Celje D.D., Cabot Corporation, Cristal, E. I. Du Pont De Nemours and Company, C-Bond Systems, Inc., and Tayca Corporation, NanoScale Corporation, among others.

Acquisitions/Technology Launches

In March 2020, C-Bond Systems, Inc. has announced its partnership with the MACOMA Environmental Technologies, LLC to resell FN® NANO, a titanium dioxide (TiO2) photocatalytic nanotechnology coatings. The FN NANO is used in hospitals, acute care facilities, assisted living facilities, senior care facilities, athletic centres, schools, child-care facilities, arenas, and other facilities to reduce the spread of airborne toxins and allergens like COVID-19 and MRSA.

Key Takeaways

In the North America region, in 2019, the US is the major market for the Nano Titanium Dioxide owing to growing demand for cosmetics across the country.

The growing popularity of environment friendly TiO2 and economically viable technologies is likely to aid in the market growth of global Nano Titanium Dioxide industry.

The use of nano silicon dioxide in paints forms an excellent abrasion property along with it resist the swelling and shrinking of paints associated with temperature and humidity changes.

The outbreak of COVID-19 is projected to drive the growth of the global nano titanium dioxide market at an exponential rate during the forecast period due to growing uses of titanium dioxide (TiO2) photocatalytic nanotechnology coatings in healthcare/medical sectors to reduce the spread of COVID-19.

The alternatives available for nano titanium dioxides such as zinc oxide nanoparticles or nano zinc oxide also used as a zinc sunscreen is acts as a restraining factor to the growth of this market.

Related Reports :

A. Global Nanomaterials Market

https://www.industryarc.com/Research/Global-Nanomaterials-Market-Research-502988

B. Titanium Dioxide Nanomaterials Market

https://www.industryarc.com/Research/Titanium-Dioxide-Nanomaterials-Market-Research-503346

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