The global nanoparticle TiO2 market is anticipated to witness significant growth over the forecast period. As a nanoparticle, TiO2 exhibits properties, such as high stability, anti-corrosiveness, and capability of undergoing photocatalytic reactions. Nanoparticle TiO2 has replaced fine particle TiO2 in industrial and consumer products on account of its low carcinogenic characteristics and strong catalytic activity in comparison to the latter.
Growing demand for nanotechnology in the treatment of cancer and central nervous system disorders is expected to drive demand for nanoparticles TiO2 in medical applications. In addition, the growing electronics market in China, Japan, South Korea, and Singapore is expected to augment the use of nanoparticle TiO2 in the semiconductor photocatalysis process. However, health hazards associated with human exposure such as respiratory system disorders and inducing gastrointestinal tract (GIT) malfunctioning is expected to restrict nanoparticles TiO2 demand. Increasing funding and investment of the nanotechnology sector by countries such as China, Russia, and the U.K. is expected to facilitate new technological development in the use of TiO2 as a nanoparticle over the forecast period.
Nanoparticle TiO2 is primarily used as a pigment in coatings, plastics, papers, inks, medicines, pharmaceuticals, foods, cosmetics, and toothpaste on account of its high brightness and refractive index. Other uses of TiO2 include semiconductor photocatalysis, self-cleaning and self-flogging applications intended for cleaning of tiles, windows, textiles, and cars. In addition, Nanoparticle TiO2 is also being used as a photosensitizer in photodynamic therapy (PDT) which is still in the pilot phase and is yet to be fully commercialized. Asia Pacific is expected to be the fastest-growing nanoparticle market for nanoparticle TiO2 over the forecast period on account of increasing demand from application industries such as consumer goods, pharmaceuticals, and cosmetics in emerging countries such as India and China. In addition, the Chinese government is providing strong support for the development of nanotechnology-based products seen from the increase in the number of patents being filed in the segment. North America and Europe are also expected to have a significant contribution to the market over the forecast period. The high scale of production in the nanotechnology sector in the United States is expected to act as a major challenge for the nanoparticle TiO2 market. In addition, there is increasing migration of manufacturing facilities from Europe and North America to parts of Asia on account of the latter’s low labor cost and favorable government policies in the region. This trend is expected to have a strong impact on the regional consumption patterns of nanoparticles TiO2.
Some of the leading manufacturers marketed nanoparticles TiO2 include Advanced Nanotechnology Ltd., Altair Nanomaterials, Multi-Direction (Bionano) Co. Ltd., Advance Syntex, American Dye Source, 20 MICRONS, Access Business Group, American Elements, Shanghai Xiaoxiang Chemicals Co. Ltd., Nano Science Reinste Nanoventures Pvt. Ltd. and technology Consortium, US Research Nanomaterials Inc., Qingdao Mingyu Industry Ltd., and others.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.