Photocatalytic coatings are organic-inorganic hybrid materials that have self-cleaning and air purifying properties. They are primarily used in construction of self-cleaning surfaces for glass, tiles, and concrete. The coatings help reduce air pollutants and eliminates the need for frequent cleaning of surfaces.
The global Photocatalytic Coating Market is estimated to be valued at Us$ 4.25 Bn in 2023 and is expected to exhibit a CAGR Of 24% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Nano-photocatalytic coatings have emerged as one of the key trends in the market. These coatings have enhanced photocatalytic properties and enable surfaces to decompose airborne pollutants more efficiently as compared to their micro/macro-scale counterparts. Their ability to operate effectively even under low light conditions is increasing their adoption in the building and construction industry. The increased demand from construction of green buildings and focus on improving indoor air quality is expected to drive the demand for nano-photocatalytic coatings over the forecast period.
Segment Analysis
The global photocatalytic coating market is dominated by the exterior segment, which accounts for around 60% of the total market share. Photocatalytic coatings are extensively used on exterior surfaces like roads, buildings, vehicle bodies etc. to remove air pollutants. The self-cleaning and anti-fouling properties of photocatalytic coatings make them suitable for exterior applications where surfaces are exposed to environmental elements like air, sunlight etc.
Key Takeaways
The Global Photocatalytic Coating Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 24% during this period and reach a value of US$ 12.75 Bn by 2030.
Regional analysis
Asia Pacific currently holds the largest share of around 40% of the global photocatalytic coating market and is expected to remain the fastest growing regional market during the forecast period. Countries like China, Japan and India are major markets in the region owing to higher industrial production as well as stricter environmental regulations pertaining to air pollution control. Increasing manufacturing activity coupled with growing focus on sustainable construction practices are fueling demand for photocatalytic coatings in Asia Pacific.
Key players :
Key players operating in the photocatalytic coating market are 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. These players are focused on developing advanced formulation technologies and expanding their geographic presence through partnerships and acquisitions to strengthen their market position.
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