The photocatalytic coatings market is estimated to touch USD 984.6 million in 2023, which will touch USD 1,856.7 million, advancing at a 9.6% compound annual growth rate, by 2030.
The progression of this industry is mainly because of the rising need for these coatings in air purification and water treatment applications due to the increasing air and water pollution. Moreover, they are highly employed in the construction industry because of their de-polluting, anti-microbial, and self-cleaning properties.
The zinc oxide category, on the basis of type, is leading the industry, with over 20% share in 2023, and it will also advance at the highest rate during this decade. A key benefit of ZnO is its capability to react to visible light. TiO2 photocatalysts need ultraviolet light to activate, on the other hand, zinc oxide can be started by a transparent spectrum of light.
The building & construction category, based on end use, is dominating the photocatalytic coatings market, with over 45% share, in 2023. This can be attributed to the increasing urbanization rate and the rising concentration on sustainability. Photocatalytic coatings work effectively in this situation by offering environmentally friendly solutions for enhancing air quality, allowing self-cleaning surfaces, and decreasing energy use.
The self-cleaning category, based on application, is advancing at a significant rate. The nano-function belongings of photocatalytic self-cleaning coatings led to their extensive employment in construction since they offer efficiency and cost-savings.
Europe accounts for a significant share of the industry. This is because of the rising consciousness regarding the importance of good air quality as well as the existence of major players. Moreover, these players are increasing their funding in research and development activities.
It is because of the development in the construction sector as well as the mounting acceptance of photocatalytic coatings with low VOC emissions, the photocatalytic coatings industry will continue to propel in the years to come.
