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According to the latest report by IMARC Group, titled “Photocatalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global photocatalyst market reached a value of US$ 2.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.61 Billion by 2027, exhibiting at a CAGR of 8.4% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A photocatalyst is a substance tglobal photocatalyst market reached a value of US$ 2.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.61 Billion by 2027, exhibiting at a CAGR of 8.4% during 2022-2027.hat induces a chemical reaction in the presence of light. It is produced using easily available materials, such as oxysulfides, metal sulfides, metal oxides, oxynitrides, and composites. It absorbs light to reach a higher energy level and provide energy to a reacting substance resulting in a chemical reaction.
Photocatalyst Market Industry Trends and Drivers:
The market is primarily driven by the increasing utilization of photocatalysts in the water treatment process as they have superior chemical properties and the ability to decompose organic compounds, which enhances the water treatment process. Moreover, as they are made with self-cleansing materials that act as a barrier for stains and dust, photocatalysts also find application in the construction industry. Furthermore, key players are significantly investing in research and development (R&D) activities to introduce innovative photocatalysts materials using calcium sulfide (CdS) and zinc oxide (ZnO). On account of these factors, the market is expected to witness positive growth in the upcoming years.
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Revenue forecast, company ranking, competitive landscape, growth factors, and trends
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Daicel Corporation, Ishihara Sangyo Kaisha Ltd, Japan Photocatalyst Center Co. Ltd., Kaltech Co. Ltd., Nanoptek Corporation, Sakai Chemical Industry Co Ltd, Showa Denko K. K., Souma Co. Ltd., Tayca Corporation, The Chemours Company, Toto Ltd. and Tronox Limited.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
The report has segmented the market on the basis on region, type, form, application.
List of Major Key Players:
Daicel Corporation, Ishihara Sangyo Kaisha Ltd, Japan Photocatalyst Center Co. Ltd., Kaltech Co. Ltd., Nanoptek Corporation, Sakai Chemical Industry Co Ltd, Showa Denko K. K., Souma Co. Ltd., Tayca Corporation, The Chemours Company, Toto Ltd. and Tronox Limited.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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