Global Photocatalyst Market Report 2023-2028: Environmental Friendly Innovations Across Multiple Industries Propel Growth

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Aug 29, 2023, 06:30 ET

DUBLIN, Aug. 29, 2023 /PRNewswire/ -- 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

As a result of its lack of toxicity and ability to work by absorbing light from lamps or sunshine, a photocatalyst is a substance that is favorable to the environment. Due to their innocuous nature, materials like zinc oxide and titanium dioxide are currently subject to very few restrictions, which will help to develop the market throughout the projection period.

Growing Awareness Regarding Pollution

The photocatalyst market is being significantly driven by the rise in awareness and relevance of water body and air quality pollution across several end-use industries. One of the major drivers of the expansion and need for the air and water treatment process, which ultimately drives the demand for titanium dioxide, with a growing number of manufacturing outlets throughout the world.

Moreover, the market for photocatalysts is also expanding because of laws and regulations against contaminating waterways. For instance, the Chinese government fines USD 0.15 million to anybody (individuals or businesses) who constructs sewage outlets in designated drinking water sources. Therefore, increasing demand for photocatalysts for water & air pollution treatment will lead to the growth of Global Photocatalyst market in the upcoming 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/9toq9y

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