The global photocatalytic coatings market is estimated to be valued at US$ 3.41 billion in 2022, according to the Global Photocatalytic Coatings Market Report, by Coatings Type (Titanium dioxide (TnO2), Zinc oxide (ZnO), and Others), by Thickness Type (<10nm, 10-20nm, 20-30nm, and >30nm), by End User (Concrete, Building panels, Glass, Ceramics, Painted surfaces, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights
The Global Photocatalytic Coatings Market was valued at US$ 3.41 billion in 2022. Photocatalytic coating is a coating that contains photocatalyst as ingredient. Photocatalytic coating is similar to photosynthesis where light energy is transformed into chemical energy. It is an interesting development for architectural textiles. These coatings are advantageous in maintenance of skyscrapers, buildings as they reduce the need for costly surface cleaning. These coatings are transparent and designed for a wide variety of surfaces.
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Browse 50 market data tables* and 40 figures* on "Global Photocatalytic Coatings Market” - Forecast to 2030
Key Trends and Analysis of the Global Photocatalytic Coatings Market:
- The global photocatalytic coatings market is expected to rise as a result of factors such as increased use in building construction and reduction in environmental contamination. The market's expansion is projected to be hampered by an inefficient visible light exploitation and limited adsorption capability for hydrophobic pollutants. Furthermore, increased R&D in improving TiO2 photocatalytic coatings effectiveness is expected to give profitable prospects for the global photocatalytic coatings market growth.
Key Takeaways of the Global Photocatalytic Coatings Market:
- North America is expected to observe significant growth at a CAGR of 22.33% during the forecast period as in the U.S, Canada, and Mexico commercial real estate is proving to be a far more tempting investment option for both individual and institutional investors. The commercial market has been growing as private equity inflows have increased.
- Major players operating in the global photocatalytic coatings market include Mitsubishi Chemical Corporation, KoN Corporation, PPG Industries, Inc., Photocatalytic Coatings Ltd, Alpha Coatings, KRONOS Worldwide, Inc., Saint-Gobain, PURETi Group, LLC, Sto SE & Co. KGaA, and Eco Active Solutions
- Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the global photocatalytic coatings market. For instance, in April 2019, the titanium oxide business of CRISTAL was acquired by Tronox Holdings is one of the world's leading producers of high-quality titanium products, which will strengthen the position of Tronox Holdings in Saudi Arabia.
Global Photocatalytic Coatings Market - Impact of Coronavirus (COVID-19) Pandemic
- The COVID-19 pandemic had a minor impact on the photocatalytic coatings industry, but it had an impact on the chemical sector. Chemical and materials companies face threats to their fragile business models as well as significant opportunities for expansion and transformation, depending on the path of the pandemic and its impact on economic conditions. The photocatalytic coatings market growth in Covid 19 Pandemic has slowed due to the severe downturn in the construction industry.
