Photocatalytic Coatings Market

The Photocatalytic Coatings market is projected to grow from USD 0.9 billion in 2023 to USD 1.4 billion by 2028, at a CAGR of 9.7% between 2023-2028 respectively. Self-cleaning, de-polluting, and anti-microbial properties to drive the demand in high traffic areas for Photocatalytic Coatings.

Attractive Opportunities in the Photocatalytic Coatings Market

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Source: Expert Interviews, Secondary Sources, and MarketsandMarkets Analysis

Market Dynamics

Driver: Low VOC emissions

Indoor air quality is becoming a growing concern for consumers and business owners. Indoor air pollutants (VOCs — volatile organic compounds) can come from sources such as carpets, furnaces, furniture, insulation, pets, refuse and fuels from the garage. Photocatalysts are mainly added in the dispersion form to the coating systems. There are a few water based systems available in the market like low-solids gloss polish, higher solids gloss polish, satin 2K urethane system, etc. A lot of research are ongoing over the water based photocatalytic TiO2 coatings using different compositions. For example, in 2017, the photocatalytic efficiency of TIO2 nanoparticles is tested that are embedded in water-based styrene-acrylic coatings. Color characteristics, photocatalytic behavior, and resistance of the coating materials to VOC emissions and self-degradation was said suitable and can be used for indoor applications, even in the absence of suitable UV stabilizers.

Restraint: Increased cost for photocatalyst activation in a normal interior surface

Nanotechnology plays an important role in manufacturing photocatalytic coatings. This seeks not only to improve the traditional properties of the coating, but it also looks forward to providing conventional coatings with new functionalities, such as self-cleaning, antimicrobial, and air-purifying properties. However, although intensive research has been done during almost 20 years on TiO2 photocatalysis towards the above-mentioned properties, but the current restraint in applying this light-driven technology, have limited its efficiency in in-situ application and lead to increased costs for the users. Therefore, the TiO2 fundamentals in relation to the interior surfaces has main research gaps of the multifunctional properties obtained at the laboratory scale and in pilot projects.

Also, it has been observed that the initial activity of conventional photocatalytic titanium dioxide coatings is poor unless the coating has been pre-activated, such as by washing with water. This additional step makes application of a photocatalytic titanium dioxide coating inconvenient because it is time consuming and adds additional costs to the application process. In low light conditions (i.e., indoors) the de-pollution properties of the coating are less than optimal. It is desirable to provide a coating for use in low light environments that incorporates high levels of photocatalyst for optimal de-pollution and which is resistant to degradation yet provides high catalytic activity under indoor lighting conditions.

Opportunities: increased demand for visible light activated photocatalytic coatings

Photocatalytic coatings are frequently made with inorganic binders or organic polymers that are resistant to photocatalytic oxidation at low catalyst concentrations. However, the coating's de-pollution characteristics are less than perfect in low light situations. It would be desired to develop a coating for usage in low light areas that incorporates high levels of photocatalyst for optimal de-pollution and is resistant to deterioration while still providing high catalytic activity under indoor conditions.

The current invention seeks to produce coating formulations, particularly paint compositions, that contain titanium dioxide photocatalysts capable of eliminating pollutants from the air, and that have high initial activity without prior activation. Another goal of the invention is to create long-lasting coatings with high quantities of photocatalytic titanium dioxide that exhibit de-pollution activity in low-light environments, particularly in the presence of visible light.

Challenge: Cheaper alternatives available in the market

Titanium dioxide may play a key role in helping to reduce mankind's reliance on fossil fuels, while at the same time helping to create a more sterile environment inside a hospital. It is almost certain that new applications for this material will emerge in the future. But the challenge for researchers now lies in scaling up and developing photocatalytic coatings for economic production.

There are different alternatives available in the market like conventional solvent based and water-based coatings which are cheaper than photocatalytic coatings. Other alternatives include bio-based coatings, green coatings, and anti-microbial coatings. These coatings offer a great challenge to photocatalytic coatings in paints and coatings industry providing similar characteristics like low VOC emissions, reducing greenhouse effect, reducing CO2 emissions, defying microbes (bacteria, mold, and mildew) on the walls, etc. Also, these alternatives offer greater efficiency than that of photocatalytic coatings.

Market Ecosystem: Photocatalytic Coatings

The ecosystem of Photocatalytic coatings industry includes the entire process of converting raw materials—titanium dioxide, zinc oxide, tin oxide—into finished Photocatalytic coatings for various applications in end-use industries, such as residential, commercial, and educational installations. The Photocatalytic coatings industry focuses on advanced, cost-effective, high-performance materials that take less preparation, thereby increasing the air quality and protecting the substrate underneath. It is undergoing continuous technological upgrades in terms of the design and development of raw materials.

ZnO is the fastest-growing segment in Photocatalytic Coatings market between 2023 and 2028.

ZnO based photocatalytic coatings are very versatile and can by used for different purposes. One of the most important purpose of ZnO NPs is their ability to inhibit the growth of various bacterial and fungal strains, both in solution or on the surfaces. ZnO particles attracted the attention of many researchers due to its applications of UV absorption. Different scientists reported that zinc oxide has attracted much attention for photocatalytic coatings because of its property of high photosensitivity, which causes degradation of various pollutants. ZnO has potential as photocatalyst material because its property of wide band gap. Zinc oxide is an N-type semiconductor with a wide band gap of 3.37 eV and a large exciton binding energy of 60 meV.

Building & Construction is the largest end-use segment in the market of Photocatalytic Coatings between 2023 and 2028.

Buildings and construction is the largest end-use industry of Photocatalytic coatings because in this particular end-use industry the demand for such coatings is required for larger surface areas. There are numerous application areas such as building walls, glass, and metal claddings, historical building protection, fountain, sculpture, industrial facilities, etc. The benefits of these coatings includes the protection from sun’s UV radiation. They use UV radiation along with the oxygen and water vapor present in the air, to create active oxygen ions. The active oxygen ions, in turn, decompose the organic dirt into natural components by an oxidation-reduction reaction which then washed off when it rains.

Asia Pacific is the fastest-growing region in Photocatalytic Coatings market.

Asia Pacific is the fastest growing market for Photocatalytic coatings market. It is the most industrialized and populous region. The building & construction sector in the region is evolving especially in India, China, and other emerging economies which further lead to the increased demand for these coatings. Moreover, after the widespread of COVID-19, every country has taken various measures towards the health of their residents and environment. Consumers are also learning about different coating alternatives that can fight with microbes and does not harm environment leading to rise in opportunities for the given market.

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Key Market Players

Mitsubishi Chemical Corporation (Japan), Kon Corporation (US), Photocatalytic Coatings Ltd. (New Zealand), USA Nanocoat (US), and Green Millennium (US) are the key players in the global Photocatalytic Coatings market.

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Scope of the Report

This research report categorizes the Photocatalytic coatings market based on type, application, end-use industry, and region.

By Type:

• Titanium dioxide
• Zinc oxide

By Aplication:

• Self-Cleaning
• Air Purification
• Water Treatment
• Anti-Fogging

By End-use Industry:

• Building & Construction
• Healthcare
• Transportation

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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