Titanium Dioxide Nanoparticles Demand to Grow Rapidly, Decline in Demand for Cosmetic Products During COVID-19 to Affect Revenue Growth: Fact.MR
Published : 12 Jun 2020 Industry: Chemical & Materials
The titanium dioxide nanoparticles market value is estimated to surpass US$ 458.5Mn in 2020 and grow at a CAGR of 6% during the forecast period (2020-2030). Titanium dioxide nanoparticles are a key material used in cosmetics and beauty products which offer brightening and whitening properties. An increased interest in nanotechnology along with an extensive application of titanium dioxide nanoparticles in various fields is significantly contributing to the market growth.
The advent of titanium dioxide nanoparticles has caused a sharp decline in demand for organic materials used earlier in cosmetic products. In the recent past, these nanoparticles have gained high popularity and used interchangeably with zinc oxide nanoparticles to enhance the SPF (Sun protection factor) of skincare products. Aforementioned factors portray an image of rapid expansion of the titanium dioxide nanoparticles market, providing numerous opportunities for the players to improve their market share.
Key Takeaways of Global Titanium Dioxide Nanoparticles Market
- The global titanium dioxide nanoparticles market is anticipated to create a value opportunity of around US$ 381 Mn during the forecast period, adding 1.8X times more value as compared to 2020.
- In terms of crystal structure, anatase continues to influence growth strategies of market players, accounting for more than one-third of the total market value.
- Application in catalyst is anticipated to lose around 60BPS during the forecast period.
- Personal care products emerge as a key application area and are set to grow at a robust CAGR of 4.8% through 2030.
- East Asia leads the global market and accounts for more than 4.5kilo tons of titanium dioxide nanoparticles production which cater to the requisite demand from application-based industries in the region.
“Demand of titanium dioxide nanoparticles from cosmetic manufacturers is set to provide thrust to the market growth by 4th quarter of CY2020,”says the Fact.MR analyst.
Titanium Dioxide Nanoparticles Market Shows Fair Level of Fragmentation
The titanium dioxide nanoparticles market is fairly fragmented with key players such as Showa Denko K.K and Ishihara Sangyo Kaisha accounting for relatively high share of the market revenue. Though the market is fairly fragmented, penetration of the new entrants is low. Rest of the products launched by the Tier-2 and Tier-3 stakeholders have gained regional presence and are trying to penetrate the global titanium dioxide nanoparticles market.
COVID-19 Impact on Titanium Dioxide Nanoparticles Market
The COVID-19 pandemic has affected the global economy in several ways. Demand for various products across several industrial verticals has fallen, directly impacting production. Supply chains have been disrupted, causing a gap in the demand-supply equation. A significant market crunch is anticipated for the cosmetics market, attributed to shortfalls in demand for personal grooming products. As the market growth is set to gain its pace with rise in demand for titanium dioxide nanoparticles from cosmetic manufacturers, market revenue is anticipated to rebound post two quarters of market reopening.
More Valuable Insights on Titanium Dioxide Nanoparticles Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global titanium dioxide nanoparticles market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the titanium dioxide nanoparticles market on the basis of type (coated & metal doped nanoparticles), crystal structure (rutile, anatase, combination of rutile & anatase), and application (personal care products, catalyst, paints & coatings, electrical & electronics and others) across six major regions.
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Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.