Due to its high stability, effective photoactivity, low cost, and safety for the environment and people, titanium dioxide (TiO2) has been widely used as a photocatalyst in various environmental and energy applications. The discovery of photo-induced hydrophilicity in the past ten years has significantly expanded the application range of material coated with titanium dioxide, which is driving up demand for titanium dioxide in self-cleaning applications. In 2021, the Asia Pacific region had the biggest market share (25.50%). Asia Pacific will have the most impact on the market for photocatalytic coatings in 2021. The use of photocatalytic coatings in the healthcare industry is expanding since they can also be used to stop the transmission of viruses like COVID-19. Photocatalytic coatings are used in hospitals, acute care facilities, assisted living homes, senior care facilities, athletic centres, schools, child care facilities, arenas, airports and other institutions to reduce the spread of airborne toxins and allergens like Covid-19 and MRSA.
The market for Photocatalytic Coatings is anticipated to reach US$ 19.68 billion by 2030 and grow at a CAGR of 24.5% from 2022 to 2030.
Leading Companies in the Photocatalytic Coating Industry:
1. Mitsubishi Chemical Corporation: A holding business, Mitsubishi Chemical Group Corp., formerly known as Mitsubishi Chemical Holdings Corp., produces and markets pharmaceuticals, polymers, and chemicals. Based on product, it divides itself into three sections. Founded 2005. Head office in Japan. Acquisition of Stock in the Film Coating Manufacturer Nakai Industrial Co., Ltd.
2. KoN Corporation: Operator of the user-centered, technology-enabled business designed to provide complete house ownership technology. Founded 2020. Headquarter of Saudi Arabia is in Riyadh.