Photocatalytic coating is a thin film coating that employs titanium dioxide as the main ingredient to reduce air and water pollution. It acts as a catalyst to accelerate the decomposition of organic pollutants like volatile organic compounds, nitrogen oxides and other harmful compounds in the presence of ultraviolet light. These environmentally friendly coatings are increasingly being applied on exterior walls, roofing tiles, glass facades and other surfaces of buildings, homes and infrastructures to purify surrounding air. With growing environmental concerns regarding air and water pollution, the demand for anti-pollution and self-cleaning building materials is rising which is driving the photocatalytic coating market globally.
The Global Photocatalytic Coating Market is estimated to be valued at US$ 4.9 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the photocatalytic coating market are OMEGA Engineering, Siemens AG, Servomex, Thermo Fisher Scientific Inc., Kusam – Meco, Aeroqual, Horiba Ltd., Fortive Corporation, PCE Holding GmbH, CEM Corporation, Vaisala, Teledyne Technologies Inc. These players are focusing on developing advanced product offerings and expanding their geographical presence globally to strengthen their market share.
Some of the key opportunities in the photocatalytic coating market include its increasing adoption in the building & construction industry for self-cleaning and air purifying functions. Photocatalytic coatings can help construct green buildings with improved indoor air quality. These coatings are also finding applications in water treatment which is another growth avenue for players.
Globally, countries like China, Japan, and some European nations have made photocatalytic coating installations mandatory for new public buildings to encourage environmental protection. Manufacturers are also exploring opportunities in North America and Asia Pacific regions through partnerships with local players. Foreign collaborations and acquisitions remain key strategies of major companies to expand their photocatalytic coating business globally.
Market drivers:
Growing environmental regulations regarding emission control from industries and vehicles is a major driver for photocatalytic coatings market. Stringent norms by regulatory bodies have increased the demand for self-cleaning exterior construction materials integrated with air purification properties.
Market restraints:
High initial costs of Photocatalytic Coatings Market Size installations on large surfaces remains a challenge limiting widespread adoption. Limited awareness regarding the benefits of these eco-friendly coatings, especially in developing nations, is another key restraint. Outdoor performance of photocatalytic coatings may reduce over longer usage period requiring maintenance, which adds to the maintenance costs.
Segment Analysis
The photocatalytic coating market is dominated by the exterior segment. Exterior photocatalytic coatings are applied on the facades of buildings to reduce air pollution levels. The self-cleaning and anti-microbial properties of these coatings helps remove dirt and pollutants from building exteriors. This substantially reduces maintenance and cleaning costs for commercial and residential buildings. Growing awareness about improving indoor and outdoor air quality is a key factor boosting the demand for exterior photocatalytic coatings.
Global Analysis
The Asia Pacific region is poised to be the fastest growing market for photocatalytic coatings during the forecast period. This can be attributed to rapid urbanization and industrialization in countries such as China and India. Stringent regulations regarding air pollution levels in major cities have prompted the construction of green buildings with photoactive facades. Additionally, rising consumer awareness about health impacts of air pollution is driving the sales of self-cleaning exterior coatings in the region. Europe currently dominates the global market due to wide acceptance of sustainable building practices. Presence of leading coating manufacturers and the growing construction of LEED certified buildings are some of the factors fueling the European photocatalytic coating market.
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