Portland, OR, July 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global nanoparticle titanium dioxide market was pegged at $9.7 billion in 2020, and is expected to reach $17.3 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030.
Rise in awareness regarding effects of UV rays among consumers, surge in demand for passive protective coatings, trend toward environmental sustainability, and approval from regulatory bodies drive the growth of the global nanoparticle titanium dioxide market. However, the adverse effects of nanoparticle titanium dioxide on marine life and the environment and toxicity at high concentrations hinder the market growth. On the contrary, surge in disposable income in developing economies and expanding paints & coatings, pigments, and cosmetic industries are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- Due to the Covid-19 pandemic, the paints & coatings manufacturing facilities have been shut down to comply with government’s lockdown regulations. Thus, the demand for nanoparticle titanium dioxide as an additive for the formulation of paints declined.
- The construction of several industrial, residential, and commercial projects has been suspended amid lockdown. Moreover, the demand from the cement industry reduced, which led to downfall of its production. The plastic industry has been severely affected due to prolonged lockdown.
The report segments the global nanoparticle titanium dioxide market on the basis of type, application, and region.
Based on type, the report is divided into rutile, anatase, and combination of rutile & anatase. The rutile segment held the largest share in 2020, accounting for around two-fifths of the market. However, the segment is projected to register the highest CAGR of 6.4% during the forecast period.
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On the basis of application, the report is classified into paints & coatings, pigments, cosmetics, plastics, energy, and others. The paints & coatings segment held the largest share in 2020, contributing to nearly two-fifths of the market. However, the pigments segment is estimated to manifest the highest CAGR of 7.1% from 2021 to 2028.
The global nanoparticle titanium dioxide market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for nearly two-fifths of the market. In addition, the region is anticipated to portray the highest CAGR of 6.6% during the forecast period.
The global nanoparticle titanium dioxide market includes an in-depth analysis of the prime market players such as Cabot Corporation, BASF SE, Croda International Plc, Cinkarna Celje d.d., Kronos Worldwide, Inc., Evonik Industries AG, The Chemours Company, Tayca Corporation, Venator Materials Plc., and Tronox Holdings Plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate 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.