According to the latest report by IMARC Group, titled “Photocatalyst Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the market to reach US$ 3.61 Billion by 2027, exhibiting at a CAGR of 8.4% during 2022-2027.
A photocatalyst is a substance that induces a chemical reaction in the presence of light. It is produced using easily available materials, such as oxysulfides, metal sulfides, metal oxides, oxynitrides, and composites. It absorbs light to reach a higher energy level and provide energy to a reacting substance resulting in a chemical reaction.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Photocatalyst Market Trends:
The market is primarily driven by the increasing utilization of photocatalysts in the water treatment process as they have superior chemical properties and the ability to decompose organic compounds, which enhances the water treatment process. Moreover, as they are made with self-cleansing materials that act as a barrier for stains and dust, photocatalysts also find application in the construction industry. Furthermore, key players are significantly investing in research and development (R&D) activities to introduce innovative photocatalysts materials using calcium sulfide (CdS) and zinc oxide (ZnO). On account of these factors, the market is expected to witness positive growth in the upcoming years.
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Photocatalyst Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Daicel Corporation, Ishihara Sangyo Kaisha Ltd, Japan Photocatalyst Center Co. Ltd., Kaltech Co. Ltd., Nanoptek Corporation, Sakai Chemical Industry Co Ltd, Showa Denko K. K., Souma Co. Ltd., Tayca Corporation, The Chemours Company, Toto Ltd. and Tronox Limited.
The report has segmented the market on the basis on region, type, form, application.
Breakup by Type:
- Titanium Dioxide
- Zinc Oxide
Breakup by Form:
Breakup by Application:
- Air Purification
- Water Treatment
Breakup by Region:
- North America:(United States, Canada
- Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America;(Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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