Photocatalyst Coating Market Size, Share, Growth, and Industry Analysis, By Type (Indoor Type and Outdoor Type), By Application (Health Care, Hotel and Catering, Industrial Facilities, Agriculture, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Photocatalyst Coating Market Report Overview

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The global photocatalyst coating market size is expected to be USD 423.9 million in 2022 and is projected to touch USD 771.08 million by 2031, at a CAGR of 6.9% during the forecast period.

Photo catalysis reaction produces photocatalytic coatings as a byproduct. In the presence of a catalyst, photo catalysis is the photoreaction’s acceleration. In catalyzed photolysis, a substrate that has been adsorbed absorbs light. In this catalysis, the photo-catalytic activity (PCA) of the catalyst is determined by its capacity to form electron-hole pairs, which produce free radicals capable of secondary reactions. One such use uses titanium dioxide (TiO) to electrolyze water molecules. When applied to a surface, a photo-catalytic coating has the capacity to maintain itself and clear away accumulated filth.

The photocatalyst coating eliminates the need for pricey surface cleaning. These coatings have a significant positive impact on building upkeep, especially for skyscrapers. TiO2 can be applied to various surfaces to make them self-cleaning in both natural and artificial light. As a result, surfaces made of paints, ceramics, glass, and cementitious materials that include active photocatalytic titania nanoparticles have several uses for generating clean environments close by. They can also be used to stop the transmission of viruses like COVID-19.

COVID-19 Impact: Disruptions in the Manufacturing Industry Hampered Market

The global COVID-19 pandemic has been unprecedented and staggering, with photocatalyst coating experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A number of countries implemented strict lockdown laws in response to the unanticipated pandemic outbreak, which made it more difficult to import and produce chemicals and other materials. However, during the pandemic, there was a greater interest in the growth of the chemicals industry due to the increasing market need for excellent products. In any case, during the COVID-19 outbreak, a number of challenges, such as the lack of a skilled labor force and the delay or cessation of activity due to the total lockdown, had a major impact on the market. Additionally, the supply and manufacturing were closed, which hampered the demand for various chemical products. The construction industry took a pause which turned out to be a major factor that impeded the growth of the market. 

LATEST TRENDS

"Growing Construction Industry to Surge Major Growth in the Market"

Photocatalyst coatings market growth is anticipated to be backed by its use in building construction and decreased environmental contamination. Additionally, it is projected that increased R&D into improving TiO2's photocatalytic coatings effectiveness would present profitable prospects for the expansion of the photocatalytic coatings market globally.  These coatings are used in hospitals for acute care facilities and senior care facilities. Due to its high stability, effective photoactivity, low cost, and safety for the environment and people, titanium dioxide (TiO2) is widely used as a photocatalyst in various energy and environmental applications. The discovery of photo-induced hydrophilicity in the past years has significantly expanded the application range of material coated with titanium dioxide, which is driving up demand for titanium dioxide in self-cleaning applications. These factors are expected to boost the photocatalyst coating market growth.

Photocatalyst Coating Market Segmentation

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• ·    By Type Analysis

By type, the market is segmented into indoor and outdoor types. 

• By Application Analysis

Based on application, the market is classified into health care, hotel and catering, industrial facilities, agriculture, and others

DRIVING FACTORS

"Expanding Demand for Self-Cleaning Products to Enhance Product Demand"

The market for self-cleaning goods is increasing, in part because consumers are becoming more conscious of the value of cleanliness and the spread of contagious diseases. The rising attention on the significance of sanitary conditions and the requirement to clean domestic surfaces is also helping the global market. All-purpose disinfectants also have the advantage of being convenient, which is appealing to consumers who are strapped for time but yet want to keep their homes clean and hygienic. In addition, innovation will be crucial during the projection time. Manufacturers maintain a consistent advertising campaign to strengthen their market presence and improve brand image.

"Various Advantages of Using the Product to Bolster Market Growth"

Coatings are an efficient technology to prevent the effect of paint-chalking, which places an inorganic-organic layer between the painted surface and the other material. Coating this interlayer serves as a barrier to stop the substrate from being harmed by the photocatalytic reaction and a binder for the other particles. This method allows for the achievement of a constant and long-lasting self-cleaning effect on painted panel surfaces. When treated with photocatalytic self-cleaning coatings, the same material can endure for longer. Low maintenance expenses result automatically from this. These factors are expected to propel photocatalyst coating market growth.

RESTRAINING FACTORS

"Use of Visible Light to Impede Market Growth"

The ineffective use of visible light and inadequate adsorption of hydrophobic pollutants are anticipated to restrain market expansion. Additionally, the zinc oxide and cadmium sulphide availability in the market is expected to restrict the photocatalyst coating market growth. 

Photocatalyst Coating Market Regional Insights

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"Asia Pacific to Dominate the Market Due to Various Applications of the Product"

Asia Pacific is estimated to hold a major part of the photocatalyst coating market share attributed to the expanding usage of coating materials in the healthcare industry. It is used in preventing the spread of various viruses.

North America is expected to hold a significant part of the photocatalyst coating market share accredited to the growing technological investment in the region. Additionally, the rising awareness about the applications of photocatalyst coating.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in the Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales.  The companies are investing on research and development to launch advanced chemicals that do not require any maintenance. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Asahipen Corporation (Japan)
• Green Millennium (U.S.)
• Shin-Etsu Chemical (U.S.)
• Ecotio2 (Australia)
• KEIM (U.S.)
• SolGelWay (India)
• CleanShield (U.K.)
• KRONOS (U.S.)
• Japan Photocatalyst Center (Japan)
• USA Nanocoat (U.S.)
• LED Tailor (Finland)
• Beijing Jie Dao Fu (China)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.
• Significant players and their business offices are also covered in the article.