Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Photocatalyst Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material, By Application, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Photocatalyst market is anticipated to grow significantly through 2028 due to the growing demand for purification applications
With an increasing emphasis on purification applications, the global photocatalyst market is poised for significant expansion in the coming years. Photocatalysts, known for their environmentally friendly characteristics and ability to harness light energy for various processes, hold promise as non-toxic solutions. Substances like zinc oxide and titanium dioxide, owing to their innocuous nature, are carving a path of growth with minimal regulatory constraints, fostering market development across the projected timeframe.
The surge in awareness surrounding the pollution of water bodies and air quality across diverse industries is a driving force behind the photocatalyst market's robust growth trajectory. The imperative for air and water treatment processes, in turn, elevates the demand for titanium dioxide, a pivotal element in these applications, as manufacturing establishments burgeon worldwide.
Additionally, stringent regulations aimed at curbing waterway contamination are further catalyzing the photocatalyst market's expansion. For instance, the Chinese government's imposition of a hefty fine of USD 0.15 million for constructing sewage outlets in designated drinking water sources underscores the urgency to combat pollution. This escalating demand for photocatalysts in the realm of water and air pollution treatment is poised to propel the growth of the global photocatalyst market in the forthcoming years.
Rising Demand Due to Self-Cleaning Application
The self-cleaning application of photocatalysts plays an important role in the building & construction sector. This feature is used in structures around the world. Its main impact is a significant reduction in the amount of surface-level dirt adhesion.
Another benefit is that light transmission through glazing and transparent membranes is enhanced due to the decrease in surface debris and obscuring grimy sunlight, which can lower lighting energy costs. Large buildings are not the only structures where photocatalytic material is used.
The translucent covering may also be utilized for other things while creating roads, such as noise barriers. Tiles that are baked with durable coatings are used for both interior and exterior purposes. A self-cleaning surface may be added to concrete which is used as a building material for facades.
For instance, according to The Ministry of Land, Infrastructure, Transport, and Tourism (Japan), total construction spending reach almost USD 501.09 million in 2022. Therefore, the self-cleaning applicability of photocatalysts increases the demand for Global Photocatalyst market during the projected period.
Increasing Demand for Photocatalytic Paints and Coatings
The outside and interior of the building can now be painted or coated with photocatalytic paints and coatings. In addition to removing dirt, photocatalytic coatings also remove impurities and stains from the building's outside surfaces, including smog and airborne pollutants. In addition, photocatalyst coatings from the inside furnishings of the building eliminate smells and destroy VOC, germs, and airborne viruses. Additionally, one of the most popular solutions used to safeguard wooden interior building surfaces is photocatalyst coating.
Moreover, a photocatalytic coating is used in a variety of applications, such as automobile windscreens, window glass, eyeglasses, microscopes, skyscrapers, kitchen appliances, solar cell panel covers screens of many optical instruments, and electronic devices. All these factors drive Global Photocatalyst market demand during the forecast period.
Market Dynamics
Drivers
- Rising demand for Water treatment process
- Increasing demand from Self Cleaning application
- Raising demand for Air Purification application
Market Trends & Developments
- Product Launches
- Mergers & Acquisitions
- Technological Advancements
Challenges
- High Capital Investment for production
- Availability of Substitutes
Competitive landscape
- Business Overview
- Product Offerings
- Recent Developments
- Financials
- Key Personnel
- SWOT Analysis
Company Profiles: Detailed analysis of the major companies in global Photocatalyst market.
- 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.
Report Scope:
Photocatalyst Market, By Material:
- Titanium Dioxide
- Zinc Oxide
- Others
Photocatalyst Market, By Application:
- Self-cleaning
- Air Purification
- Water Purification
- Others
Photocatalyst Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Singapore
- South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/sdmxpt
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