Global Photocatalyst Market – Industry Trends and Forecast to 2030

Photocatalyst Market Analysis and Size

The essential factors contributing to the growth of the global photocatalyst market in the forecast period of 2023 to 2030 include the need for photocatalyst in the building and construction industry. Also, the rise in water scarcity caused by rapid industrial development can be a significant driver in the global photocatalyst market. The air purifying, antimicrobial properties of photocatalyst is significantly contributing to the global market’s growth.

Data Bridge Market Research analyses that the global photocatalyst market which was USD 9,388.08 million in 2022, is expected to reach USD 14,083.24 million by 2030, growing at a CAGR of 5.20% during the forecast period of 2023 to 2030. In 2023, “Titanium dioxide” segment will dominate the market due to rise in water scarcity caused by rapid industrial development. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Photocatalyst Market Scope and Segmentation

Market Definition

Photocatalyst are referred substances that encourage chemical reactions in the occurrence of light. Titanium dioxide is a broadly employed photocatalyst. It is also referred to as titanium white and is a highly effective photocatalyst. Photocatalysts are widely employed in the decontamination of air and water purification implementations. Photocatalysts are utilized across a broad range of applications like sewage treatment, antifouling treatment, water treatment, textile antibacterial, and antibacterial treatment in various medical facilities.

Global Photocatalyst Market Dynamics

Drivers

• The rise in Water Scarcity because of the Rapid Industrial Development

The rise in water scarcity caused by rapid industrial development can be a significant driver in the global photocatalyst market. Photocatalysts, such as titanium dioxide, can be utilized to treat and purify water through advanced oxidation processes. As water scarcity intensifies, the demand for effective water treatment solutions using photocatalyst is expected to grow, driving the expansion of the global photocatalyst market.

• The Increase in the need for Photocatalyst in the Building and Construction Industry

The increase in the need for photocatalyst in the building and construction industry can be a strong driver in the global photocatalyst market. Photocatalytic coatings and materials are used to improve air and surface quality, reduce pollution, and enhance the self-cleaning and antimicrobial properties of buildings. As the demand for sustainable and smart building solutions grows, the adoption of photocatalyst is expected to rise, contributing in expansion of the global photocatalyst market.

Opportunity

• Rising number of Research and Development Initiatives

The rising number of research and development initiatives presents an opportunity in the global photocatalyst market. Ongoing R&D efforts lead to advancements in photocatalyst materials, manufacturing processes, and applications. These innovations drive the development of more efficient, cost-effective, and sustainable photocatalytic solutions. The expanding knowledge base and technological breakthroughs create opportunities for companies to introduce new and improved photocatalyst products, meeting the evolving needs of various industries and driving market growth.

Restraint/Challenge

• Lack of Awareness and Understanding about Photocatalyst Technology

However, without proper knowledge about photocatalyst’s benefits and applications, potential customers may be hesitant to adopt photocatalyst solutions. Limited awareness can also hinder market education efforts and slow down the widespread adoption of photocatalyst. Increasing awareness through targeted marketing, education campaigns, and industry collaborations can help overcome this restraint and drive market growth.

This global photocatalyst market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global photocatalyst market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments                

• In April 2022, The Chemours Company, a global chemistry company, announced that it has entered into a Memorandum of Understanding (MoU) with North Carolina Agricultural and Technical State University (N.C. A&T). Chemours will fund faculty-led research projects, which will include N.C. A&T graduate students. The research will focus on areas of mutual interest, such as driving new science in water treatment to help advance Chemours’ 2030 Corporate Responsibility Commitment goal to reduce process emissions of fluorinated organic chemicals by 99% or more
• In March 2022, LB Group a large Chinese chemical company announced to promote new titanium dioxide (TiO₂) pigments for coatings and inks at ACS 2022. It manufactures a range of chemicals including titanium, zirconium and lithium products that it sells to over 1,000 customers worldwide. The company has invested millions of dollars to grow its TiO2 pigment manufacturing business significantly

Global Photocatalyst Market Scope

The global photocatalyst market is segmented on the basis of material, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material 

• Titanium Dioxide
• Zinc Oxide
• Others

Application

• Self-cleaning
• Air Purification
• Water Purification

Global Photocatalyst Market Regional Analysis/Insights

Global photocatalyst market is analysed and market size insights and trends are provided by country, material, and application as referenced above.

The countries covered in the global photocatalyst market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of the Middle East and Africa.

Germany dominates the global photocatalyst market due to the rise in water scarcity caused by rapid industrial development. Photocatalyst can be utilized to treat and purify water through advanced oxidation processes. As water scarcity intensifies, the demand for effective water treatment solutions is growing, hence driving the market.

Asia-Pacific is expected to grow in the global photocatalyst market during the forecast period of 2023 to 2030 because of the increasing need for photocatalyst in the building and construction industry. Photocatalytic coatings and materials are used to improve air and surface quality, reduce pollution, and enhance the self-cleaning and antimicrobial properties is also a contributing factor in the market growth.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Photocatalyst Market Share Analysis

The global photocatalyst market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global photocatalyst market.

Some of the major players operating in the global photocatalyst market are:

• TOTO LTD (Japan)
• J.S.R. Corporation. (Japan)
• KRONOS Worldwide, Inc. (U.S.)
• eramet (France)
• Tipe Inc. (U.S.)
• OSAKA Titanium Technologies Co., Ltd. (Japan)
• Daicel Miraizu Ltd. (Japan)
• Kon Corporation (Japan)
• L.B. Co L.T.D. (France)
• Nanoptek Corp. (South Korea)
• Showa Denko K.K. (Japan)
• TAYCA (Japan)
• The Chemours Company (U.S.)
• TitanPE Technologies, Inc. (Canada)
• Tronox Holdings plc (U.S.)
• Venator Materials PLC (U.K.)
• Toshiba Materials Co, Ltd. (Japan)
• COSMO CHEMICAL CO., L.T.D. (Japan)
• NIPPON SODA CO., LTD. (Japan)
• SAKAI CHEMICAL INDUSTRY CO., LTD. (Japan)

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