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

Global Photocatalyst Market size was valued at USD 3.1 billion in 2021 and is poised to grow from USD 3.43 billion in 2022 to USD 7.61 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

Photocatalysts are chemicals used to promote chemical reactions that result in the production of light. It is common practice to use titanium dioxide as a photocatalyst. It is a powerful photocatalyst and is also known as titanium white. The decontamination of air and water purification systems frequently uses photocatalysts. Photocatalysts are used in a wide range of processes, including sewage treatment, antifouling treatment, water treatment, textile antibacterial treatment, and antibacterial treatment in different healthcare facilities.

The growing acceptance of photocatalysts in water and air purification due to the significant development of numerous industries and the depletion of freshwater resources are major factors that are anticipated to drive the photocatalyst market in the projected years. Additionally, it is projected that the growing demand for photocatalysts in the building and construction sector as a result of their numerous advantages will fuel the market's expansion. Additionally, it is predicted that the existence of appropriate rules and guidelines due to the non-toxic nature and environmentally friendly characteristics of photocatalysts will restrain the growth of the photocatalyst market. However, the increase in capital investment will restrain the expansion of the photocatalyst market during the forecast period. In the upcoming years, the market for photocatalysts may also witness prospects for growth due to the increased awareness brought on by research and development programmes. The impact of COVID-19, however, could pose additional obstacles to the market for photocatalyst growth in the near future.