Nanoparticle Titanium Dioxide Market size was over USD 11.36 billion in 2023 and is set to cross USD 23.93 billion by 2036, witnessing more than 5.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of nanoparticle titanium dioxide is estimated at USD 11.9 billion. The growth of the market can be attributed to the increasing applications of nanoparticle titanium dioxide in various industries, such as, chemical, petrochemical, paper, and others. nanoparticle titanium dioxide possess different physiochemical properties than its fine particles, such as, higher bioactivity, which is estimated to boost the demand for nanoparticles over other forms of titanium dioxide. Increasing use of these particles in the pharmaceutical industry as pigment for gelatin capsules and tablet coatings, is also expected to boost the market growth. The pharmaceutical industry was valued over USD 1.2 trillion in 2019, and has experienced tremendous growth in 2020-21, which is anticipated to positively influence the market growth. Moreover, the growth in the construction industry is also expected to boost the market growth, owing to the growing usage of nanoparticle titanium dioxide for paints and coatings.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.9% |
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Base Year Market Size (2023) |
USD 11.36 billion |
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Forecast Year Market Size (2036) |
USD 23.93 billion |
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Regional Scope |
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The market is segmented by application into paints & coating, pharmaceuticals, plastics, inks, and others, out of which, the paints & coatings segment is anticipated to hold the largest share in the global nanoparticle titanium dioxide market over the forecast period on account of increasing use of nanoparticle titanium dioxide in the paint & coating industry, as it provides higher opacity and brightness to the paint. The high refractive index of these particles makes the paint brighter, opaque and provides better coverage. Moreover, the paint with added nanoparticle titanium dioxide is more durable, which is estimated to boost the segment growth.
Our in-depth analysis of the global market includes the following segments
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By Form
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By Application |
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North America Market Analysis
On the basis of geographical analysis, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is poised to dominate majority revenue share by 2036, on the back of growing technical research in the region, with high investment in the R&D for advanced technological innovations in the field of medicines. Moreover, presence of major pharmaceutical companies in the countries, such as, Canada and United States, is estimated to boost the market growth.
APAC Market Statistics
The market in the Asia Pacific is estimated to garner significant share over the forecast period owing to the increasing investment in the pharmaceutical companies and growing generic drugs industry in countries, such as, China, and India. For instance, according to the data by the India Brand Equity Foundation (IBEF), the pharmaceutical market in India exported vaccines and generic drugs worth USD 24.44 billion in FY21. Moreover, APAC region is the nucleus of chemical industry, which is estimated to further fuel the market growth.
February, 2021: Venator Materials PLC to increase the price for all its titanium dioxide pigments for coatings, plastics, inks and paper applications, effective from April 1, 2021.
Author Credits: Rajrani Baghel
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