Photocatalysts consume solar energy and bio-waste feedstock, resulting in low operational costs. Furthermore, the heterogeneous photocatalysis allows to avoid the use of dangerous and harmful chemical reagents and emission of harmful waste. Due to cost and environmental benefits associated with photocatalysts, their demand is expected to increase, which in turn, is expected to drive the growth of global photocatalysts market. However, design and development of appropriate quantitative measurement methods for the photocatalytic effect require high investments, hampering the growth of the global photocatalysts market over the forecast period. Requirement of environmental sustainability and biocompatibility is expected to remain a key challenge for market players in the global photocatalysts market.
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Global photocatalysts market can be segmented on the basis of material type, reaction and application. On the basis of material type, global photocatalysts market can be segmented into titanium dioxide, zinc oxide, tin oxide and cerium oxide. Based on the reaction, global photocatalysts market can be segmented as homogeneous photocatalysts and heterogeneous photocatalysts. In the homogeneous photocatalysis, the reactants and the photocataysts exist in the same phase, while in the heterogeneous photocatalysis the phase of photocatalyst is different from that of the reactants. On the basis of application, global photocatalysts market can be segmented into construction, automotive, chemical, environmental, medical, consumer products and others.
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Japan is ahead of all other markets in terms of both production and consumption of photocatalysts globally. Western Europe followed by North America are other markets for photocatalysts after Japan due to stringent government regulations regarding environmental concerns. Asia Pacific excluding Japan market is expected to increase owing to high demand and growing environment awareness among consumers in countries such as India and China. Photocatalytic coatings that fight Bird Flu and SARS infections are used exclusively in high risk regions. The Chuba International Airport Terminal in Japan is coated with photocatalytic coatings. Numerous hospitals and complexes in Asia and Europe are coated with the material to protect against transmissible diseases and environmental pollution. Eastern Europe and Latin America are expected to register a steady growth over the forecast period. In Middle East and Africa, photocatalysts market is expected to expand at an average CAGR over the forecast period.
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