The 2022 global size for photocatalysts market stood at USD 2.4 billion and is anticipated to experience a revenue compound annual growth rate (CAGR) of 7.8% throughout the forecast period, as per the most recent report from Reports and Data.
Photocatalysts play a crucial role in air purification systems by eliminating harmful pollutants like volatile organic compounds (VOCs), nitrogen oxides (NOx), and sulfur oxides (SOx) from the air. The market is poised for revenue growth due to heightened awareness regarding air pollution and its detrimental effects on human health.
In the realm of water purification, photocatalysts are employed to remove harmful impurities, enhancing the quality of drinking water. The global demand for clean drinking water is expected to rise, leading to an increased need for photocatalysts in water treatment processes.
Furthermore, the demand for self-cleaning surfaces is a key driver of market revenue growth. Photocatalytic coatings are applied to various materials such as glass, ceramics, and metal, creating surfaces that clean themselves with minimal maintenance. These coatings utilize sunlight or artificial light to convert organic substances like dirt and grime into harmless compounds. The adoption of self-cleaning surfaces is gaining traction across diverse industries, including construction, automotive, and healthcare.
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Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
While the wider patterns discussed in the previous section apply to the entire sector, the complexities of the distinctions among the various players indicate the need to analyze trends by segment of the industry. As part of its multiverse series, Deloitte classified chemical sector stakeholders into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups usually has its own strategic imperatives. It is common for vertically integrated natural owners to prioritize continuous improvement over innovation when operating their businesses. By focusing on supply chain efficiency, market innovation, and cost optimization, differentiated commodities flourish in a highly fragmented and complex industry. This is exactly what solution providers do: they focus on maximizing the value of their unique products as well as their application expertise and services.
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Moreover, the report provides insight into how the Photocatalyst market will develop between 2023 and 2032. Companies operating in the Photocatalyst market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Photocatalyst market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Photocatalyst market and estimates market progress in terms of value (USD million) and volume (thousand units).
- Titanium dioxide (TiO2)
- JSR Corporation
- Kronos Worldwide, Inc.
- Panasonic Corporation
- Kuraray Co. Ltd.
- Kon Corporation
- Nippon Kayaku Co. Ltd.
- Mitsubishi Chemical Corporation
- Sakai Chemical Industry Co. Ltd.
- Sigma-Aldrich Co. LLC
- Titanium Dioxide
- Zinc Oxide
- Environmental Remediation
- Water Treatment
- Air Purification
- Self-cleaning Coatings
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Research Methodology: Photocatalyst Market
The research methodology adopted by analysts to compile the Photocatalyst market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Photocatalyst market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Photocatalyst market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Photocatalyst market.
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