Photocatalyst Market

Photocatalyst Market Outlook (2024 to 2034)

The global photocatalyst market is estimated at US$ 4.15 billion in 2024. The market for photocatalysts has been projected to increase at a noteworthy CAGR of 9.5% to rise to a market value of US$ 10.28 billion by the end of 2034.

Production and use of substances that use light energy to speed up chemical reactions is part of the photocatalyst technology. Because of their capacity to decompose pollutants, produce clean energy, and accelerate chemical reactions, these materials find application in several industries such as environmental cleaning, energy production, and chemical synthesis. Photocatalysts, such as titanium dioxide (TiO2), are widely employed in solar energy conversion, self-cleaning surfaces, and water and air purification.

Governments in several countries are favoring the use of photocatalysts due to their non-toxic and eco-friendly nature, which makes them ideal for use in various industries. The need for efficient purification solutions is growing due to increasing worries regarding pollution and its effects on human health and the environment, which is boosting the demand for photocatalysts, especially for air and water purification.

Due to the ability of photocatalysts to efficiently break down hazardous pollutants, such as microorganisms and volatile organic compounds (VOCs), when exposed to light, photocatalytic materials such as titanium dioxide are being widely utilized in systems.

Key Market Growth Drivers

• A key factor driving global photocatalyst market growth is the ever-expanding building and construction sector.
• The latest global trend of smart cities is driving up demand for photocatalyst coatings and materials to reduce pollution, enhance air and surface quality, and improve the self-cleaning and antimicrobial properties of buildings.
• Adoption of photocatalysts is increasing by enterprises to meet stringent environmental regulations.
• As worries about pollution in the air and water are growing in various countries, photocatalysts are becoming necessary in purification systems. By breaking down dangerous pollutants, photocatalytic materials provide a sustainable way to maintain clean water and air.
• Performance and efficiency of photocatalyst systems are being improved by advances in nanotechnology and the manufacturing of more effective photocatalytic materials.
• Antibacterial and self-cleaning building materials use photocatalysts as these materials are applied to surfaces to improve indoor air quality and save maintenance costs by dissolving organic pollutants.
• Use of photocatalysts is increasing in solar energy conversion; splitting of water to produce hydrogen.
• Photocatalysts are being widely used in the chemical industry for oxidation and synthesis processes since they can be more energy- and environmentally efficient compared to other conventional methods.

Report Attributes	Details
Photocatalyst Market Size (2024E)	US$ 4.15 Billion
Forecasted Market Value (2034F)	US$ 10.28 Billion
Global Market Growth Rate (2024 to 2034)	9.5% CAGR
East Asia Market Share (2024E)	36.5%
North America Market Value (2024E)	US$ 1.19 Billion
Powdered Segment Value (2034F)	US$ 2.41 Billion
Key Companies Profiled	J.S.R Corporation; Tipe Inc.; Daicel Miraizu Ltd.; Nanoptek Corp.; TitanPE Technologies, Inc.; Tronox Holdings plc; Toshiba Materials Co. Ltd.; TOTO Ltd.; Kon Corporation; Cristal; Kronas Worldwide, Inc.; Showa Denko K.K.; Sakai Chemical Industry Co., Ltd.

What is Pushing Adoption of Photocatalysts at a High Rate Globally?

“Large-scale Research & Development Activities in Nanotechnology”

Research and development activities, which is a key photocatalyst market trend, are opening up new possibilities of use with ongoing developments in technology. New photocatalysts have been developed through advancements in the field of nanotechnology. If the materials are handled at the nanoscale, the surface area and activity of the photocatalyst increases, thereby increasing the absorption of light and the rate of the reaction occurring. This is why new photocatalyst systems with increased performance characteristics necessary for various applications such as environmental cleaning, production of clean energy, and complex chemical transformations are being developed.

Such advancements are contributing to the photocatalyst market size expansion due to the availability of enhanced and all-encompassing solutions for companies in search of environment-friendly and innovative approaches.

What Main Challenge Do Photocatalyst Manufacturers Face?

“High Cost Limiting Widespread Employment of Photocatalysts Across Industries”

The manufacturing process of high-quality photocatalysts, particularly the ones with advanced components such as nano-particles, significantly increases the overall cost of the final product. This shoots up even further due to extensive research and development efforts needed for the high-tech equipment required during the production phase.

Nanoparticles are one of those materials that are still new in use and require precise synthesis methods and careful handling to keep up their unique properties. This results in a marginal rise in cost, making these advanced photocatalysts less affordable and accessible to a larger base of potential customers. This cost factor is a primary barrier to their widening commercial use, limiting their adoption across many industries and applications.

Country-wise Insights

East Asia is estimated to hold 36.5% of the global photocatalyst market share in 2024, and by 2034, this is forecasted to rise to 38.4%. Continuously increasing industrialization is leading to more challenges regarding the environment, such as air and water pollution. Countries such as China, Japan, and South Korea are substantially investing in research and development activities of photocatalysts to combat such environmental issues.

Why is the United States a Key Market for Photocatalyst Manufacturers?

“Growing Use in Advanced Water Treatment Systems”

Attribute	United States
Market Value (2024E)	US$ 885.8 Million
Growth Rate (2024 to 2034)	9.7% CAGR
Projected Value (2034F)	US$ 2.23 Billion

Technological advancements in photocatalysts are leading to an increase in demand in the United States because of their enhanced performance and efficiency. Development of more efficient photocatalytic materials and applications is the result of rigorous research efforts and developments. In the United States, enhanced photocatalysts are being included in advanced water treatment systems and self-cleaning surfaces since they have an increased capacity to degrade contaminants in both air and water.

Why is Requirement for Photocatalysts Increasing Rapidly in Japan?

“Rising Incorporation Photocatalysts in Advanced Construction Methods”

Attribute	Japan
Market Value (2024E)	US$ 419 Million
Growth Rate (2024 to 2034)	9.2% CAGR
Projected Value (2034F)	US$ 1.01 Billion

Innovative application of photocatalysts in building and construction activities is driving up their demand in Japan. The country is well known for its advanced methods and supplies, and photocatalysts are essential in this field. Self-cleaning building materials such as facade paints and tiles have emerged as key end uses. When exposed to light, these materials' photocatalysts dissolve dirt, pollutants, and stains, keeping the area clean and lowering the need for routine maintenance. Photocatalysts have become an important part of contemporary construction methods in Japan.

Category-wise Insights

Based on material, the market is segmented into titanium dioxide and zinc oxide. Titanium dioxide holds a significant market share due to it being widely utilized in various energy and environmental applications because of its high stability, photoactivity, low cost, and safety for humans as well as the environment.

Why is Powdered Photocatalyst Most Widely Preferred?

“Powder Form Preferred for Ease of Use Compared to Granules and Solutions”

Attribute	Powder
Segment Value (2024E)	US$ 1.02 Billion
Growth Rate (2024 to 2034)	9% CAGR
Projected Value (2034F)	US$ 2.41 Billion

Compared to granules and solutions, most end users primarily prefer powder forms of photocatalysts because of their ease of use and versatility in several applications. Powder form serves a greater surface area for reactions, contrary to granules, thus increasing the efficiency of photocatalytic processes. Besides, the powder form can be easily incorporated into different materials and systems, including coatings, composites, and catalytic filters. This has led to its widespread usage in various industrial and environmental applications.

In addition, powder is typically easier to handle, manage, and transport compared to other forms that require special containment and particular handling measures. This flexibility has contributed to the increasing demand for powered photocatalysts in both industrial and commercial applications.

Why is Application of Photocatalyst Increasing in Water Purification?

“Photocatalysts Serve Well in Removing Pollutants Effectively”

Though the applications of photocatalysts are quite diverse, they are significantly employed in the process of water purification because of their ability to break down organic pollutants and unwanted particles. In the presence of light, they generate a reaction that can decompose harmful substances in water, including harmful toxic microorganisms that are potentially harmful to humans. Apart from removing pollutants, this process also mineralizes them into harmless by-products.

As concerns over water quality and safety rise, photocatalytic technology has made it possible to offer sustainable and efficient solutions for quality and safety. This ability to address a diverse range of problems in water treatment is enhancing photocatalytic requirements in water management worldwide.

Competitive Landscape

Key players in the photocatalyst market are focusing on research and development to innovate advanced photocatalytic materials with improved efficiency that are better suited for broader applications. Several companies are extending the usage of photocatalysts to new industries, including electronics, textiles, and construction, in addition to their conventional uses in water and air purification.

• In March 2023, Samsung Electronics unveiled the Bespoke Cube Air Infinite Line, a new variant of its high-end air purifier with a new filter that doesn't need to be changed often. The Infinite Line Filter is this model's standout feature. The Infinite Line Filter is made up of a photocatalytic deodorization filter and a washable sterilization dust collection filter designed specifically for air purification and deodorization.
• On January 5, 2023, at the Consumer Electronics Show in Las Vegas, Japanese technology company Kaltech, which specializes in photocatalytic technology meant to purify food, water, and air, unveiled its first high-end humidifier. The opulent Yuragi Junsui Premier, featuring photocatalytic technology to eliminate impurities, went on sale in the United States.
• In July 2023, ECUST (East China University of Science and Technology), ECNU (East China Normal University), and Nippon Paint (China) Co., Ltd. formally introduced the 'Photocatalytic Purification Coating Technology Innovation Platform'.

Fact.MR provides detailed information about the price points of key manufacturers of photocatalysts positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Photocatalyst Market Research

• By Form:

  • Powder
  • Solution
  • Granules

• By Material:

  • Titanium Dioxide
  • Zinc Oxide

• By Application:

  • Self-Cleaning
  • Air Purification
  • Water Purification

• By Region:

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa