The global photocatalyst market was pegged to be on the higher side of US$ 2 Bn, while expanding at a significant growth rate of around 10%, crossing the US$ 6 Bn mark by the end of the forecast period.
The study of market analysis of Photocatalysts Market focuses on the key elements and the market dynamics of a specific market within that industry. Photocatalysts Market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
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Persistence Market Research, in its latest report titled, ‘Photocatalyst Market: Global Industry Analysis 2014–2018 and Forecast 2019–2029’, provides detailed information on the global photocatalyst market, through extremely organized market research. The report evaluates the photocatalyst market, and projects the upcoming market scenario on the basis of type, form, application, and region. As per the information delivered in this report, titanium dioxide photocatalysts are anticipated to account for a high proportion in regards to the consumption (greater than 70%) over the forecast period.
Amongst the forms, photocatalysts are noted to be highly preferred in the powder segment, and this is anticipated to remain the top-consumed form of photocatalysts, witnessing fast-paced growth over the forecast period. In view of applications, the water treatment application accounts for a significant proportion of the photocatalyst market, with the air purification and building materials segments registering relatively fast growth over the forecast period.
The production of photocatalysts is observed to be highly intense in the East Asia region. Countries such as China and Japan are noted to be the front runners, not only in the production of photocatalysts, but are also the larger markets for photocatalyst manufactures. With the prime focus hovering around developing innovative products and novel applications in the photocatalyst market, manufacturers are also noted to indulge in product launches and capacity expansions.
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The Rising Demand for Photocatalysts in Building Materials & Paints and Coatings is Anticipated to Fuel the Growth of the Global Market
Photocatalysts, especially titanium dioxide, are increasingly used in manufacturing building materials (such as tiles and blocks) and paints & coatings, owing to their characteristic self-cleaning and anti-bacterial properties, among others. Growth in the construction industry and paints & coatings industry is expected to optimistically impact the overall photocatalyst market.
The rising focus of the research fraternity in developing products effective to visible light sources, as they are to UV rays, is anticipated to keep the market driven over the forecast period. The rising awareness surrounding air pollution and its hazardous effects on human health is considered to be a prime factor in the market for the sales of air purifiers. Photo-Catalytic Oxidation (PCO) air purifiers are witnessing higher demand, hence, are contributing to the upsurge in the demand for photocatalysts.
Rising Industrial Activities in East Asia Have Led to Higher Production as Well as Consumption of Photocatalysts in the Region
Numerous manufacturers of photocatalysts are noted to be located in East Asian countries such as Japan and China. Not only is this region one of the leading producers of photocatalysts, but also consumes a larger proportion of photocatalysts. Japan is estimated to account for a prominent proportion in the photocatalyst market, creating high revenue opportunities for market participants. North America and Europe are estimated to represent significant growth by the end of the forecast period, cumulatively creating revenue opportunities well over US$ 1 Bn. In terms of growth, the South Asia photocatalyst market is forecast to showcase robust growth over the forecast period.
Key Stakeholders
Photocatalyst Market Manufacturers
Photocatalyst Market Distributors/Traders/Wholesalers
Photocatalyst Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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