| The report “Photocatalytic Coatings Market by Type (TiO2, ZnO), Application (Self-Cleaning, Air Purification, Water Treatment, Anti-fogging), End-use (Building & Construction, Transportation) & Region (North America, Europe, APAC, SA & MEA) – Global Forecast to 2028″, is projected to grow from USD 0.9 billion in 2023 to USD 1.4 billion by 2028, at a CAGR of 9.7%. Urban air pollution and global warming are one of the biggest environmental problems faced today by the society. The photocatalytic coatings de-polluting and self-cleaning properties aid to their increased demand to tackle this problem.
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Some of the prominent key players are: · Mitsubishi Chemical Corporation (Japan) · Kon Corporation (US) · Photocatalytic Coatings Ltd. (New Zealand) · USA Nanocoat (US) · Green Millennium (US) Driver: Low VOC emissions Indoor air quality is becoming a growing concern for consumers and business owners. Indoor air pollutants (VOCs — volatile organic compounds) can come from sources such as carpets, furnaces, furniture, insulation, pets, refuse and fuels from the garage. Photocatalysts are mainly added in the dispersion form to the coating systems. There are a few waters based systems available in the market like low-solids gloss polish, higher solids gloss polish, satin 2K urethane system, etc. A lot of research is ongoing over the water based photocatalytic TiO2 coatings using different compositions. For example, in 2017, the photocatalytic efficiency of TIO2 nanoparticles is tested that are embedded in water-based styrene-acrylic coatings. Color characteristics, photocatalytic behavior, and resistance of the coating materials to VOC emissions and self-degradation was said suitable and can be used for indoor applications, even in the absence of suitable UV stabilizers. Building & Construction is the largest end-use segment in the market of Photocatalytic Coatings between 2023 and 2028.Buildings and construction are the largest end-use industry of Photocatalytic coatings because in this particular end-use industry the demand for such coatings is required for larger surface areas. There are numerous application areas such as building walls, glass, and metal claddings, historical building protection, fountain, sculpture, industrial facilities, etc. The benefits of these coatings include the protection from sun’s UV radiation. They use UV radiation along with the oxygen and water vapor present in the air, to create active oxygen ions. The active oxygen ions, in turn, decompose the organic dirt into natural components by an oxidation-reduction reaction which then washed off when it rains. Asia Pacific is the fastest-growing region in Photocatalytic Coatings market.Asia Pacific is the fastest growing market for Photocatalytic coatings market. It is the most industrialized and populous region. The building & construction sector in the region is evolving especially in India, China, and other emerging economies which further lead to the increased demand for these coatings. Moreover, after the widespread of COVID-19, every country has taken various measures towards the health of their residents and environment. Consumers are also learning about different coating alternatives that can fight with microbes and does not harm environment leading to rise in opportunities for the given market. |
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