by The global Photocatalytic Coating Market is estimated to be valued at US$ 4.25 Bn in 2023 and is expected to exhibit a CAGR of 24 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Photocatalytic coatings have self-cleaning and anti-microbial properties. When light activates the photocatalytic materials, it breaks down organic dirt and kills bacteria/germs on the coated surfaces. This eliminates the need for frequent cleaning and maintenance of surfaces.
Market key trends:
One of the key trends in the photocatalytic coating market is its rising adoption in the construction industry. Photocatalytic coatings are increasingly being used on building exteriors, roofing materials, and interior wall surfaces. When activated by sunlight, these coatings break down air pollutants like nitrogen oxides and decompose organic dirt and grime. This self-cleaning and anti-pollution property is driving their adoption in the construction of green buildings. The coatings help improve indoor air quality and reduce maintenance costs of buildings.
Segment Analysis
The global photocatalytic coating market is dominated by exterior wall coatings segment, as it accounts for nearly 50% of the market share. Exterior wall coatings require minimal maintenance and provide improved durability and self-cleaning properties compared to conventional wall coatings. Photocatalytic coating on exterior walls helps reduce air pollution around buildings by decomposing airborne pollutants and also cuts down indoor cleaning costs.
Key Takeaways
The global Photocatalytic Coating Market Share is expected to witness high growth, exhibiting CAGR of 24% over the forecast period, due to increasing demand from building and construction industries.
Regional analysis
Asia Pacific region dominates the global photocatalytic coating market and is expected to maintain its leading position during the forecast period, growing at a CAGR of around 25%. This can be attributed to rapid industrialization and infrastructure development activities in countries such as China and India.
Key players analysis
Key players operating in the photocatalytic coating market include Mitsubishi Chemical Corporation, KoN Corporation, PPG Industries, Inc., Photocatalytic Coatings Ltd, Alpha Coatings, KRONOS Worldwide, Inc., Saint-Gobain, PURETi Group, LLC, Sto SE & Co. KGaA, and Eco Active Solutions. Mitsubishi Chemical Corporation leads the global photocatalytic coating market, followed by KoN Corporation, owing to its well-established distribution network and wide product portfolio for construction applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
