LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global titanium dioxide nanomaterials market is expected to grow at a CAGR of more than 9% during the forecast period.
This research report titled ‘Global Titanium Dioxide Nanomaterials Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. In order to calculate the market size, Technavio analysts considered the revenue generated through sales of titanium dioxide nanoparticles for applications such as personal care products, paints and coatings, energy sector, paper and ink, and others (catalyst, production of self-cleaning ceramics, production of self-cleaning cement, and glass industry).
Sigma-Aldrich, one of the major titanium dioxide producers, got acquired by Merck in November 2015 for USD 17 billion. After the acquisition, Merck is operating in 67 countries with 72 production units offering more than 3,000 products worldwide. Merck is focusing on strengthening its position in the market through mergers and acquisitions. The acquisition of Sigma-Aldrich was second major acquisition by Merck after the acquisition of Millipore in 2010. The company might threaten to acquire other smaller titanium dioxide nanomaterials players.
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Technavio’s chemicals and materials analysts categorize the global titanium dioxide nanomaterials market into three major segments by end user. They are:
- Personal care products
- Paints and coatings
- Energy sector
Global titanium dioxide nanomaterials market for personal care products
By value, the global titanium dioxide nanomaterials market for personal care products is likely to reach USD 189 million by 2020, growing at a CAGR of nearly 13%. Titanium dioxide nanomaterials are used in sunscreens and lotions as a UV filter. UV radiations are classified according to their wavelength as UV-A (long: 320-400 nm), UV-B (medium: 290-320), and UV-C (short: 200-290nm). Ultrafine grade is preferred for sun filter application. Titanium dioxide nanomaterials help in scattering light in UV-A and UV-B regions, thus helping in protecting the skin from the harmful effects of these radiations.
According to Chandrakumar Badala Jaganathan, a lead metals and minerals research analyst from Technavio, “The titanium dioxide nanomaterials used for sun protection are anatase and rutile. A sunscreen product contains up to 25% of titanium dioxide nanomaterials by weight. Approximately 70% of the sunscreens contain titanium dioxide nanomaterials. The global sun care market was USD 9.80 billion in 2015, out of which sun care protection products accounted for approximately 65% and after sun and self-tanning products accounted for the rest.”
Global titanium dioxide nanomaterials market for paints and coatings
By value, global titanium dioxide nanomaterials market for paints and coatings was USD 56.80 million in 2015 and is likely to reach USD 99.50 million by 2020, growing at a CAGR of almost 12%. The market in the paints and coatings segment is expected to witness significant growth during the forecast period, owing to the increased use of titanium dioxide nanomaterials in the form of pigments for the production of self-cleaning and pollutant-degrading paints and coatings. Pigments containing rutile titanium dioxide nanomaterials are more stable than pigments containing anatase titanium dioxide nanomaterials and are, thus, preferred for paints and coatings for outdoor applications. However, anatase nanomaterials are of lower cost and preferred for indoor applications and low-price paints and emulsion.
“Titanium dioxide nanomaterials are also used in architectural coatings for various applications such as wood protection. The demand for architectural coatings is expected to increase in the next few years because of a surge in civil construction activities across the globe and rising investment in the maintenance and repair of existing buildings. The market is expected to grow significantly during the forecast period primarily because of increased demand from emerging markets such as APAC,” says Chandrakumar.
Global titanium dioxide nanomaterials market for energy sector
By value, the global titanium dioxide nanomaterials market for energy sector is likely to reach USD 25.45 million by 2020, growing at a CAGR of almost 10%. The market in the energy sector is expected to grow at a constant rate because titanium dioxide nanomaterials, being cheaper, are beginning to replace traditional silicon-based photovoltaic materials in the production of dye-sensitized solar cells. Unlike in traditional photovoltaic cells, light absorption and charge transportation is done separately in titanium dioxide solar cells and the manufacturing of these cells requires less cost.
In 2015, global investments in solar energy technologies was USD 161 billion. China, Germany, Japan, and US are the major markets for PV cells. Thus, there is a huge potential for the growth of titanium dioxide nanomaterials in the energy sector.
The top vendors highlighted by Technavio’s research analysts in this report are:
- American Elements
- EPRUI Nanomaterials and Microspheres
- Reinste
- Sigma-Aldrich
- US Research Nanomaterials
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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