Photocatalytic Coating Market is Estimated to Witness Growth Due to Rising Demand from the Construction Industry and Increasing Adoption in Cleaning Applications
The global photocatalytic coating market is estimated to be valued at USD 987.4 Mn in 2024, exhibiting a CAGR of 8.2% over the forecast period (2024-2031). Furthermore, rapid urbanization and increasing construction activities globally have boosted the demand for self-cleaning materials like photocatalytic coatings.
Market Dynamics:
Rising construction activities: Growing infrastructure development and construction industry worldwide have propelled the demand for photocatalytic coatings. Photocatalytic coatings help reduce air pollution and keeps exterior surfaces cleaner for a longer duration without manual cleaning. This has driven their adoption in various construction applications.
Increasing usage in cleaning applications: Photocatalytic coatings break down organic dirt, pollutants, and microbes upon exposure to UV light from sunlight. This self-cleaning property has led to its increasing usage in various cleaning applications like on exterior walls, windows, rooftops, etc. of commercial buildings. The ability to reduce frequent manual cleaning is another key factor fueling its adoption in various end-use industries such as in automotive.
Increasing Demand for Self-cleaning and Anti-microbial Surfaces is Driving the Market Growth
One of the major drivers for the global photocatalytic coating market is the increasing demand for self-cleaning and anti-microbial surfaces. Photocatalytic coatings have the ability to break down and decompose organic dirt, grime, pollutants, and microbes when activated by sunlight or artificial UV light. This property makes them ideal for applications where self-cleaning and reduction of microbes is required. Some key applications driving the demand include building exteriors, indoor floor and wall coatings, anti-smog coatings on automobiles, and marine vessel hulls. With growing awareness about the benefits of hygienic indoor environments and ease of maintenance, photocatalytic coatings are seeing increased adoption in both residential and commercial construction projects globally.
Strict Environmental Regulations Regarding Air Pollution are Fueling Market Growth
Another major driver is the stringent environmental regulations enforced by governments worldwide to curb air pollution, especially in urban areas. Photocatalytic coatings have the ability to break down nitrogen oxides (NOx) and volatile organic compounds (VOCs) released in the atmosphere. They work as an effective air purifying material when coated on building exteriors, roads, and other infrastructure. The increasing regulatory push for air quality improvement and reduction of greenhouse gas emissions is prompting the construction, infrastructure, and automotive sectors to adopt photocatalytic coatings on a larger scale. Various government incentives and subsidies are also encouraging market growth.
High Material and Production Costs Hamper Wider Adoption
One key restraint for the global photocatalytic coating market is the higher material and production costs compared to conventional paints and coatings. Pure titanium dioxide, which is the most commonly used photocatalyst, is expensive to source and process. The additional production steps involved in applying ultra-thin photocatalytic layers also increase manufacturing costs. This makes photocatalytic coatings less feasible for applications that require large surface areas to be coated. The market is also held back by the inability of coatings to function properly in low light conditions.
Limited Product Awareness Restricts Market Reach
Another challenge is the relatively lower level of awareness among end users about the benefits of photocatalytic coatings. Despite possessing self-cleaning and air purification properties, not many construction projects and infrastructure development schemes opt for these advanced coatings due to lack of technical know-how. Even in developed markets, photocatalytic coatings have limited penetration beyond high-end construction and specialty applications. Manufacturers need to emphasize more on marketing and promotional activities to increase visibility and educate potential customers. Considering the new applications constantly being explored, better awareness can help photocatalytic coatings fulfill their vast untapped market potential.
Growing Building Renovation Projects Spur New Opportunities
One key market opportunity for photocatalytic coating providers lies in the growing building renovation and retrofitting market worldwide. As existing structures undergo repairs, maintenance, and upgrading, there is a scope to replace older building materials with advanced photocatalytic coatings. This presents a lucrative avenue to tap the aftermarket demand. Various renovation and refurbishment grants and subsidies extended by governments can encourage wider implementation of photocatalytic technologies in retrofitting projects.
Rising Emphasis on Green Buildings to Boost Adoption
The increasing focus of construction players as well as regulatory bodies on developing green and sustainable infrastructure is opening new growth pathways. Requirements to attain LEED certifications compel builders to use eco-friendly materials like photocatalytic coatings. More projects adhering to green building norms in the future will ultimately support the market expansion. With their inherent ability to purify air and reduce energy consumption, photocatalytic coatings are well-positioned to gain importance in next-generation green construction initiatives globally.
Link - https://www.coherentmarketinsights.com/market-insight/photocatalytic-coating-market-5120
Key Developments:
Venator Materials PLC is a global chemical company known for producing pigments and additives, offering innovative solutions across industries like textiles, coatings, and construction. In September 2022, Venator became the first manufacturer of fiber anatase titanium dioxide (TiO₂) to receive the ECO PASSPORT certification from OEKO-TEX for the textile industry. This certification reflects Venator's commitment to sustainability and meeting the rising demand for eco-friendly textile solutions.
Tronox Holdings plc, a leading producer of titanium dioxide pigments and zircon, operates a diverse portfolio of mining, smelting, and processing facilities worldwide. In March 2022, the company signed a major long-term power purchase agreement with SOLA Group, a South Africa-based independent power producer. This deal secures 200 MW of solar energy to power Tronox's South African mines and smelters, demonstrating the company's commitment to integrating renewable energy and reducing its carbon footprint.
Key Players:
AkzoNobel N.V., PPG Industries, Inc., BASF SE, Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Kao Corporation, TOTO Ltd., Cristal (a subsidiary of Tasnee), Ecolab Inc., Hempel A/S, Jotun Group, Sika AG, 3M Company, Dow Inc., and Saint-Gobain S.A.
