Photocatalyst Market Insights
The global photocatalyst is expected to grow at a significant CAGR over the forecast period. The growth can be primarily attributed to rising demand for water treatment due to depleting water resources and increasing water scarcity.
The increased benefits associated with photocatalyst including superior chemical properties and decomposition of organic compound are expected to drive demand in building & construction, air purification and water treatment sectors. Along with this, there are only a few regulations regarding application of titanium dioxide and zinc oxide on account of their harmless nature. This is also projected to stimulate market growth over the forecast period.
However, high initial investment associated with the manufacturing of photocatalyst coupled with ownership of existing technology by key manufacture is projected to affect the profitability of the market.
Photocatalyst Market: Product Insights
On the basis of product, the global photocatalyst market is segmented into titanium dioxide and zinc oxide among others. The market for titanium dioxide is expected to occupy the highest share mainly owing to factors such as physical & chemical stability and light absorption among others. Moreover, the availability of only a few alternatives of the product is projected to favor the market over the coming years.
Photocatalyst Market: Application Insights
The global photocatalyst market is segmented into self-cleaning, air purification and water purification among others. The self-cleaning segment is anticipated to dominate the market over the forecast period owing to inherent properties of photocatalyst such as resistance against pollutants such as ammonia and formaldehyde among others. Moreover, growing concern towards cleanliness and maintenance of buildings is likely to propel application of the product in building & construction sectors.
The water purification sector is also likely to grow at a healthy rate as it can be used as a disinfectant for removing toxic substances.
Photocatalyst Market: Regional Insights
Asia Pacific occupied the largest share of this market since the past few years. This can be attributed to the presence of key manufacturers coupled with high adoption of the product in this region. Moreover, rising pollution level in the region is also anticipated to stimulate the market growth over the coming years. Demand is expected to rise from countries such as China, Japan and India. Japan is projected to grow at a significant rate on account of rising R&D activities in the region.
North America is also expected to emerge as key revenue generating region due to growing adoption of the product and increased investment across the region.
Photocatalyst Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Photocatalyst Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase photocatalysts over the coming years. Some leading consumers of this market are Aquasana, and Watts Premier among others.
Photocatalyst Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players in the photocatalyst market include CRISTAL (Saudi Arabia), KRONOS Worldwide, Inc. (The U.S.), TiPE (China), TOTO Corporation (Japan), OSAKA Titanium Technologies Co., Ltd. (Japan) and JSR Corporation (Japan).
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