Photocatalyst Market to be Dominated by Purification applicability through 2028
Rising
demand for purification applications is expected to drive Global Photocatalyst
market in the forecast period 2024-2028.
According to TechSci Research
report, “Photocatalyst Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Photocatalyst Market
is anticipated to upsurge at an impressive rate in the forecast period 2024-2028.
A significant factor fueling the growth of the Global
Photocatalyst Market is increasing demand from the building & construction
sector, as photocatalyst coating help in removing dirt from the surface. The
use of photocatalyst is expected to expand in the next years as it is used to
coat optically transparent glass materials, which are used in many
applications, including automobile, electronics, medical & solar energy
generation which will further fuel the growth of Global Photocatalyst market. For instance, the National
Bureau of Statistics of China estimates that the value of China's construction
production peaked in 2021 at around USD 4.2 trillion. Photocatalyst are help in the
decontamination of air and water purification process which increase its
utilization in water treatment, sewage treatment, and antifouling treatment as
well as increasing use of self-cleaning glass coating in the window panes of
cars result in increasing demand of photocatalyst. Along with this need for
less VOC contents in paints & coating due to increasing concern regarding
eco-friendly infrastructure the demand of photocatalysts increases which led to
the growth of Global Photocatalyst Market in the upcoming years.
Furthermore, the market is
being further stimulated by the extensive use of photocatalysts in textile antibacterial,
and antibacterial treatment in various medical facilities.
However, the high capital
investment for production can slow down market growth. Also, the availability
of substitutes can further slowdown market growth.
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Global Photocatalyst
Market is segmented based on material, application and region.
Based on material, the
market is segmented into titanium dioxide, zinc oxide, and others. Titanium
Dioxide segment will experience the highest market share during the
forecast period, 2024-2028. Due to its superior chemical and physical
properties such as high stability and less toxic in nature.
Based on application, the
market is segmented into self-cleaning, air purification, water purification, and
others. Self-Cleaning segment will experience the highest market share
during the forecast period, 2024-2028. As it greatly reduces the extent of dirt
adhesion on surfaces.
Major
companies operating in the Global Photocatalyst Market are:
- Kronos Worldwide Inc.
- Syzygy Plasmonics Inc.
- PCN Materials IKE
- Photocat AS
- TitanPE Technologies, Inc.
- Venator Materials PLC
- Tronox Holdings plc
- The Chemours Company
- Green Millennium Inc.
- LB Group Co Ltd.
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“Asia
Pacific region is expected to grow at the highest rate during the forecast
period. This
is due to the rising construction activity and the growing demand of paint and
coatings in a different sector. Additionally, presence of major manufacturer and
increasing R&D activities creates lucrative
opportunities for market growth. Furthermore, in North America, rising awareness, the low
maintenance cost of the product, and adopting the technological innovation create
huge prospects of market growth during the forecast period ,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Photocatalyst Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material (Titanium
Dioxide, Zinc Oxide, Others), By Application (Self-cleaning, Air Purification,
Water Purification, Others), By Region and Competition,
has evaluated the future growth potential of Global Photocatalyst Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Photocatalyst Market.”
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