A new report published by Allied Market Research, titled, “Nano Titanium Dioxide Market by Application – Global Opportunity Analysis and Industry Forecast, 2014 – 2022″, states that the market was $4,486 million in 2015 and is expected to reach $16,682 million by 2022, registering a CAGR of 20.7% from 2016 to 2022. Consumption of nano titanium dioxide is maximum in cosmetic application throughout the study period. Asia – Pacific is expected to continue to be the leading consumer in the global market until 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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About Allied Market Research:
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relations with various companies and this helps us in digging out market data
that helps us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
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