Cost Analysis and Economic Evaluation for TiO2 Synthesis using Sol-Gel Method

TiO2 nanoparticles as a photocatalyst system transition metal have many benefits in various application example for removal of toxic compound. To synthesis the TiO2 nanoparticle, we used sol-gel as the method. The goal of this paper is to determine whether the sol-gel method of generating TiO2 is economically and industrially viable. Numerous economic evaluation parameters had been analyzed such as gross profit margin (GPM), payback period (PBP), cumulative net present value (CNPV), and total investment cost (TIC). The result of GPM and CNVP/TIC on industrial-scale production of TiO2 nanoparticles showed payback period (PBP) in the 3 years. From the results, it shows that the engineering analysis for TiO2 nanoparticles production is feasible to run. Nevertheless, there are still several parameters that need to be studied further to ensure the feasibility of producing TiO2 nanoparticles on an industrial scale and to boost the profit to attract the investors.