Valuation of Global Photocatalyst Market to Proliferate at a Stellar CAGR of 10% Through Forecast Period
The global photocatalyst market is anticipated to witness substantial growth during the forecast period (2019 to 2029), according to a new market study by XploreMR. The growth of the market is primarily driven by extensive adoption of photocatalysis in a variety of applications, ranging from water treatment, antifouling treatment, textile antibacterial, and antibacterial treatment in medical facilities.
Likewise, photocatalysts are rampantly used in the water purification process in the paper and textile industries, which is expected to continue a significant portion of global revenue. Along similar lines, factors such as sprouting demand for photocatalytic oxidation air purifiers, and burgeoning popularity of building materials made of photocatalysts will further fuel the growth of the market. On the back of the aforementioned facets, the global photocatalyst market - which was valued at US$ 2.5 Bn at the end of 2018 - will flourish at a stellar CAGR of nearly 10% through the forecast period.
Application in Water Treatment Segment Shapes Growth Trajectory
XploreMR delivers a comprehensive breakdown of the global photocatalyst market, in its report titled, 'Photocatalyst Market: Global Industry Analysis 2014–2018 and Forecast 2019–2029'. The prime objective of this report is to convey complete analysis and comprehensions affecting the photocatalyst market. To estimate the market value of photocatalysts, the team has considered FY 2018 as the base year, and market values have been evaluated keeping in mind the trends, driving factors, and important developments by key market participants. The compound annual growth rate (CAGR) for photocatalysts has been derived for the period of 2019 to 2029.
A photocatalyst is a material that undergoes photosensitization, wherein, a photochemical modification occurs as a result of the absorption of radiation from solar as well as other visible light sources. Photocatalysts are mainly used for comprehensive air treatment, water purification, sewage treatment, textile antibacterial and antifouling treatment, and antibacterial treatment of medical facilities.
This global photocatalyst market report contains more than 20 sections that describe market numbers in terms of volume in tons and value in US$ Mn, at regional and global levels. The first section of the global photocatalyst market report covers an executive summary that elaborates on the trends being witnessed in the market, from the demand side as well as supply side. The subsequent section covers the global photocatalyst market introduction, including the market definitions of the segments considered, market taxonomy by type, form, application, and region, and other information that is significant to the market.
In the following section of the global photocatalyst market report, we have included market viewpoints, including macroeconomic factors, forecast factors, Porter’s analysis, and value chain analysis, along with a list of distributors, manufacturers, and end users. The next section of the global photocatalyst market report comprises the global industry analysis by volume and value, along with pricing analysis for North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa. The fifth section of the global photocatalyst market report includes qualitative as well as quantitative analysis of the photocatalyst market by every segment of the market.
Global Market Study on Photocatalyst: Increasing Applicability in Air Purification Favoring Demand GrowthBuy Now
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