San
Francisco, 25 October 2018 , The global photocatalyst market is expected to reach USD 4.58 billion by 2025, according
to a new report by Grand View Research, Inc. Growing demand for photocatalysts
as a self-cleaning material in construction industry owing to their low
maintenance cost is expected to propel growth.
At present, the industry is in its nascent
stage, with few manufacturers. Japan is expected to lead the industry, owing to
the early adoption of the technology. In addition, high investment in R&D
pertaining to the product coupled with several patents by the Japanese
researchers are key factors contributing to the high growth.
The
industry was dominated by the TiO2 photocatalysts, owing to early research on this product. However,
initiatives taken by the manufacturers to develop innovative photocatalysts
materials using zinc oxide (ZnO), and cadmium sulfide (CdS) is likely to
challenge the existing material and open new avenues for the industry growth
over the projected period.
The product has the ability to decompose
organic compounds, which makes them suitable for air purification and water
treatment application. Furthermore, in building and construction, the technology
through its self-cleaning mechanism acts as a barrier for dust and stains,
which is expected to propel growth over the next eight years.
High initial investment in the commercial
manufacturing of photocatalysts coupled with proprietary on the existing
technology by the manufacturers and researchers are expected to be the key
barriers for the new entrants. However, wide scope in R&D for innovative
technology development is expected to compel new players to invest in the
business.
Full Research Report On Photocatalyst
Market Analysis:
Further key findings from the report suggest:
·
Titanium dioxide accounted for over 85% of
the global demand as the compound is inexpensive, and has a high chemical
stability on account of which it is a preferred material as a photocatalyst in
several application industries
·
Self-cleaning application dominated the
industry and is expected to be the fastest growing application, accounting for
51.9% of the overall demand in 2016 owing to its superior property including
eliminating unwanted plants
·
The demand in Europe was valued at USD
400.8 Million in 2016 and is expected to witness significant growth over the
projected period owing to economic recovery and growing building &
construction industry in the region
·
Japan is projected to witness a growth of
9.2% over the forecast period with the industry growth primarily driven by
self-cleaning owing to increasing technological advancements in the sector
Browse
More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/nanoparticles
Grand View Research has segmented the photocatalyst market on the basis
of material, application, and region:
Material Outlook (Revenue, USD Million,
2014 - 2025)
·
Titanium Dioxide
·
Zinc Oxide
·
Others
Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Self - Cleaning
·
Air Purification
·
Water Purification
·
Others
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Japan
·
Rest of Asia Pacific
o
China
o
India
·
Rest of World
Access Full Press
Release of this Report:
www.grandviewresearch.com/press-release/global-photocatalyst-market
www.grandviewresearch.com/press-release/global-photocatalyst-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com/
