Global Photocatalyst Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 11.5% through 2020 to 2026, reaching nearly US$ XX Bn.
The global Photocatalyst market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Photocatalyst report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Photocatalyst Market Overview:
Photocatalysts are substances that induce chemical reactions in the presence of light which plays an important role in the purification of water and air by destroying bacteria.
Global Photocatalyst Market Dynamics:
Growing adoption of photocatalyst in air and water purification, thanks to rapid growth of various industries and reducing freshwater resources, is a key factor expected to drive growth of the global photocatalyst market during the forecast period 2020-2026. Additionally, increasing demand of photocatalyst in building & construction industry, because of its various features, is another factor estimated to propel the market growth during the forecast the period. Favorable rules and regulations pertaining to photocatalyst, due to its non-toxic and environmental friendly properties, is a dynamic factor expected to fuel the photocatalyst market growth during the forecast period.
However, the high initial investment cost is a major factor restraining the growth of the global photocatalyst market during the forecast period. Increasing adoption of photocatalyst in emerging economies and commercialization of the product, are factors expected to create lucrative opportunities for driving the global photocatalyst market growth during the forecast period.
Global Photocatalyst Market Segment Analysis:
By Material, the photocatalyst tapes market is segmented into Titanium Dioxide, Zinc Oxide. Titanium oxide held the largest market share of more than 90.0% in 2019 thanks to its exceptional chemical and physical stability.
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Zinc oxide photocatalysts were synthesized by the sol-gel method using zinc acetate as a precursor for degradation of azo dyes under UV irradiation. The resultant samples were characterized by different techniques, such as XRD, SEM, and EDX. Zinc oxide, with a high surface reactivity owing to a large number of native defect sites arising from oxygen non-stoichiometry, has emerged to be an efficient photocatalyst material compared to other metal oxides. ZnO exhibits comparatively higher reaction and mineralization rates and can generate hydroxyl ions more efficiently than Titania (TiO2).
By Application, the market is segmented into self-cleaning, air purification, water purification. Self-cleaning application is growing at a CAGR of more than 13.2% from 2020-2026 thanks to rising concerns associated with maintenance and cleanliness of buildings. At present, this application is widely utilized in the building & construction industry and is expected to grow with the rising demand in the industry. These factors grow the photocatalyst market during the forecast period.
In water purification, the product is utilized as a disinfectant and removal of harmful substances. In 2014, Panasonic developed water purification technology based on photocatalysis technique which is expected to require other manufacturers to adopt similar expertise thanks to the high efficiency of the technology thereby driving growth.
Global Photocatalyst Market Regional Insights:
The Asia Pacific dominates the major market and is expected to grow at a rapid pace during the forecast period 2020-2026. Developing countries including India, and China are the major countries that boost the market because of expanding construction sector and significant research and development activities.
North America is expected to drive the fastest growth, thanks to increasing investment and revival of the construction sector. Further, rising awareness among the consumers and low-maintenance cost associated with the product is likely to act as a catalyst towards the growth of the North American market.
The objective of the report is to present a comprehensive analysis of the global Photocatalyst market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Photocatalyst market dynamics, structure by analyzing the market segments and project the global Photocatalyst market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Photocatalyst market make the report investor’s guide.
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Global Photocatalyst Market, by Region
- North America
- Asia Pacific
- Middle East and Africa
- South America
Global Photocatalyst Market Key Players
- TOTO Corporation (TOTO LTD.)
- JSR Corporation
- Showa Denko K.K
- Ishihara Sangyo Kaisha Ltd.
- BASF SE
- Kronos Worldwide Inc.
- Green Millennium
- Nanoptek Corp.
- Daikin Air Conditioning India Pvt. Ltd.
- Osaka Titanium Technologies Co. Ltd.
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