North America Photocatalyst Market Size splits by Region and Segment, Upcoming Trends, Growth Forecast to 2028

North America Photocatalyst Market Size – USD 2.57 Billion in 2020, Growth - CAGR of 11.2%, Trends – High demand from self-cleaning applications.

Rapid industrialization and the growing awareness for air and water purification are the drivers for the growth of the market.

North America Photocatalyst Market Size – USD 2.57 Billion in 2020, Growth - CAGR of 11.2%, Trends – High demand from self-cleaning applications.

The global North America Photocatalyst Market is forecast to reach USD 5.23 Billion by 2028, according to a new report by Reports and Data. The growing demand for North America Photocatalysts as a self-cleaning material in the construction industry due to their low maintenance cost is expected to stimulate growth.

Currently, the industry is in its infancy, with few manufacturers. Japan is expected to lead the industry due to the rapid adoption of technology. Besides, the high RD investments linked to the product, coupled with several patents by Japanese researchers, are key factors contributing to the steady growth. The industry was dominated by TiO2 (Titanium dioxide) North America Photocatalysts due to early research on this product. However, manufacturing sector initiatives to develop innovative North America Photocatalyst materials using zinc oxide (ZnO) and cadmium sulfide (CdS) are likely to replace the existing material and result in the market growth over the forecast period.

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Top Companies: TOTO Corporation, JSR Corporation, Showa Denko K.K., Kronos Worldwide, Inc., Ishihara Sangyo Kaisha, Ltd., BASF SE, CRISTAL, Green Millennium, Nanoptek Corp., and TiPE, among others.

Further Key Finding from the Report Suggestion:

  • Titanium dioxide has accounted for over 47.2% of world demand as the compound is inexpensive and has high chemical stability due to which it is a preferred material as a North America Photocatalyst in several application industries.
  • The self-cleaning application has dominated the North America Photocatalyst market and is expected to be the fastest-growing application, accounting for 57.5% of total demand in 2019 due to its superior property, including the removal of unwanted plants.
  • Demand in Europe was estimated at USD 0.37 billion in 2019 and is anticipated to witness significant growth over the forecast period due to the economic recovery and growth of the building and construction sector in the region.
  • Europe is a large consumer of North America Photocatalysts. Latin America and the Middle East and Africa are relatively secondary markets; however, these regions offer lucrative opportunities in the North America Photocatalyst market.
  • North America Photocatalysts, including zinc oxide and titanium dioxide, can provide security against air pollutants such as formaldehyde, VOCs, microbes, and ammonia. Besides, the applications of these North America Photocatalysts are available for components such as air filters, air conditioning, and ventilation.
  • Oxides sharing a band gap and similar chemical and physical properties can be used as North America Photocatalysts. According to the Journal of Industrial and Engineering Chemistry, oxides such as Bi2WO6, Fe2O3, WO3, and Nb2O5 can be used as North America Photocatalysts. However, currently, it is in the research phase.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global North America Photocatalyst market is segmented into:

Type Outlook (Revenue, USD Billion; 2017-2028)

  • Titanium Oxide
  • Zinc Oxide
  • Tin Oxide
  • Cerium Oxide

Form Outlook (Revenue, USD Billion; 2017-2028)

  • Powder
  • Solution
  • Granules

Application Outlook (Revenue, USD Billion; 2017-2028)

  • Self-Cleaning
  • Air Purification
  • Water Purification
  • Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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