The global titanium dioxide nanomaterials market in North America holds a significant 35.7% share, primarily due to the rapid increase in the demand for cosmetics. This demand is on the upswing in tandem with rising per capita disposable income, which is expected to be a driving force behind the growth of the titanium dioxide nanomaterials market in the years to come.
The worldwide titanium dioxide nanomaterials market is anticipated to advance at a steady Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period spanning from 2022 to 2032. By 2032, the market is poised to achieve a valuation of approximately US$ 3.6 billion, marking a significant increase from the 2022 figure of US$ 1.71 billion.
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Key Takeways From Market Study Report –
- North America accounts for 35.7% share of the global titanium dioxide nanomaterials market owing to the rapidly rising demand for cosmetics.
- The rapid expansion of the construction industry and rising initiatives by government organizations for housing projects are driving the market expansion in Asia Pacific.
- Based on application, the titanium dioxide nanomaterials market is classified into personal care products, paints and coatings, papers and inks, catalysts, and others.
- The use of paints and coatings in the automotive industry is increasing with a growing number of passenger and commercial vehicles, especially across emerging nations.
Market Development –
“New Market Entrants Focusing on Technological Innovations for Product Development”
Start-ups are focused on investing in the creation of toxic-free titanium dioxide nanoparticles and the sustainability trend. Emerging companies are using advanced technologies for the development of new products. This is a tactical move used by new entrants to increase their market presence.
- TioTech AS is a Norwegian start-up that produces nanomaterials made of titanium dioxide and works on titania-based technology. For use in quick charging and long-lasting batteries, TioTech is creating the next generation of titania (TiO2) materials. With TitanBTM, a TiO2-based compound, batteries can be charged in arctic temperatures, have their lifetimes extended, and safety concerns are all but eliminated.
Covid-19 Impact on Titanium Dioxide Nanomaterials Market –
- COVID-19 has adversely impacted the global economy in three major ways: decrease in production and demand, disruption of supply chain, and adverse financial impact on firms and financial markets
- The COVID-19 pandemic has had a swift and severe negative impact on globally integrated industries such as the paints & coatings and cosmetic & personal care by hampering the supply chain. It is expected to negatively impact manufacturing, distribution, and supply of titanium dioxide nanomaterials in the near future.
Competitive Landscape
The development of novel goods is receiving more funding from the producers of titanium dioxide nanoparticles. Leading manufacturers are putting their efforts into creating new product features to solve various user issues. The focus of key companies is on creating joint ventures to capture a higher market share in novel applications.
For instance :
- In 2021, DuPont acquired Laird Performance Materials as it became part of the electronics & industrial interconnect solutions business. This acquisition will aid in strengthening the electronics & industrial (E&I) segment of DuPont.
Key Segments in Titanium Dioxide Nanomaterials Industry Research
- by Product Form :
- Rutile Nanoparticles
- Anatase Nanoparticles
- Combination of Rutile & Anatase Nanoparticles
- Nanowires & Nanotubes
- Others
- by Application :
- Personal Care Products
- Paints & Coatings
- Paper and Inks
- Catalysts
- Others
- by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Answered in This Report
- How has the global titanium dioxide nanomaterials market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global titanium dioxide nanomaterials market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global titanium dioxide nanomaterials market and who are the key players?
- What is the degree of competition in the industry?
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