Photocatalyst Market Size, Share, Growth Analysis, By Type(Titanium Dioxide, Zinc Oxide, Tin Oxide, and Cerium Oxide.), By Form(Powder, Fines, Sponge, Bars/Blocks), By Application(Self-Cleaning, Air Purification, Water Treatment, Anti-Fogging), By End User(Building and Construction Industry, Textile Industry, Automotive Industry, Packing Industry), By Region - Industry Forecast 2024-2031

Drivers

Increased Water Treatment Process and Air Purification Applications

• The growth of the air and water purification industries is boosting demand for photocatalysts worldwide. For the purpose of removing leftover colours from the textile and paper industries, photocatalysts are frequently used in water treatment applications. In the treatment of wastewater and drinking water, it has been widely used.

High Demand for Titanium Dioxide

• Due to its high photoactivity, stability, low cost, and safety for both humans and the environment, titanium dioxide (TiO2) is frequently used as a photocatalyst in a range of environmental and energy applications. The market for photocatalysts is due to the rising consumption of titanium dioxide in developed countries, particularly Japan. Due to the growing popularity of its hydrophilic uses, such as its self-cleaning and anti-fogging capabilities, titanium dioxide is being used in more and more applications. Over the past few years, photo-induced hydrophilicity has significantly expanded the range of applications for materials coated with titanium dioxide, increasing the demand for titanium dioxide in self-cleaning applications.

Restraint

Availability of Substitutes such as Zinc Oxide and Cadmium Sulphide

• Titanium oxide, the product with the highest revenue in the photocatalyst market, is in danger of being replaced due to the availability of cadmium sulphide and zinc oxide. The cheaper alternatives offered by substitutes are thought to be one of the biggest obstacles facing the market for photocatalysts. The alternatives are also cost-effective and readily available.

Expensive Capital Investment

• The substantial initial capital outlay required to set up a photocatalyst plant is predicted to act as a roadblock to the market's growth. Although there is growing interest in the potential future applications of the photocatalyst, it is anticipated that the sizable sum of money that will need to be spent on research in order to make these applications viable and bring them to market will act as a barrier to the industry's expansion.