Industry Outlook and Trend Analysis
The Photocatalyst Market was worth USD 1.35 billion in 2014 and is expected to reach approximately USD 3.56 billion by 2023, while registering itself at a compound annual growth rate CAGR of 11.41% during the forecast period. Rising water shortage inferable from quick mechanical development and exhausting freshwater resources is probably going to boost water treatment over the globe. Photocatalysts have outstanding chemical properties which improve the water treatment process, which is anticipated to drive development over the gauge time frame. Rising interest for low VOC coatings in building and construction sector is anticipated to boost the demand for photocatalysts inferable from its prevalent property including deterioration of a organic compound.
Material Outlook and Trend Analysis
The requirement for photocatalysts in Japan was commanded by titanium dioxide, representing 88.7% of the general income share in 2016. The extraordinary chemical and physical stability displayed by TiO2 are anticipated to drive development. Moreover, the interest for TiO2 is foreseen to expand attributable to the existence of couple of other options to the material. Zinc oxide is the ideal substitute accessible to TiO2 which can be used as a photocatalyst.
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Application Outlook and Trend Analysis
The self-cleaning application is foreseen to develop at a significant CAGR over the forecast period attributable to rising concerns related with support and cleanliness of buildings. Presently, this application is broadly used in building and construction sector and is anticipated to develop with the rising interest in the business. Accordingly, photocatalysts market is anticipated to become over the estimate time frame.
Regional Outlook and Trend Analysis
Japan ruled the market in 2016 as far as revenue representing USD 560.5 million inferable from the most elevated number of technology patents, the existence of major manufacturers, and high implementation of the technology. Furthermore, the expanding RandD exercises in the nation are foreseen to boost development over the gauge time frame. China is anticipated to develop tremendously attributable to expanding entrance of the product in the development business in the region.
Competitive Insights
The major players in the market are KRONOS WORLDWIDE INC, OTC Osaka Titanium technologies Co Ltd, TiPE, Toto Ltd, Cristal and JSR CORPORATION. These companies compete in terms of price and regional footprint. The competition in Japan is relatively higher in comparison to other regions due to the high concentration of the manufacturers in the region.
The Photocatalyst Market is segmented as follows-
By Material:
Zinc Oxide
Titanium Dioxide
Others
By Application:
Water Purification
Self-cleaning
Air Purification
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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