Photocatalytic Coatings Market - By Type (Titanium Dioxide (TiO2)-Based, Zinc Oxide (ZnO)-Based), By Substrate (Concrete, Glass, Metal, Plastics, Ceramics), By Application, By End-use & Forecast, 2023 - 2032

Photocatalytic Coatings Market - By Type (Titanium Dioxide (TiO2)-Based, Zinc Oxide (ZnO)-Based), By Substrate (Concrete, Glass, Metal, Plastics, Ceramics), By Application, By End-use & Forecast, 2023 - 2032

Photocatalytic Coatings Market size is projected to depict 9.5% CAGR from 2023 to 2032, driven by the growing awareness among consumers and businesses about the product benefits. The rapid expansion and modernization of cities has led to the growing focus on sustainability, environmental quality, and energy efficiency. Photocatalytic coatings play pivotal role in addressing these concerns by improving air quality, reducing pollution, and enhancing the cleanliness of infrastructure, transportation systems, and public spaces. They also help create self-cleaning surfaces and combat air pollution for aligning perfectly with the goals of smart cities.

Furthermore, several industry players are focusing on the development of future efficient solutions to combat the rising urban air pollution while accelerating the infrastructure growth efficiently, further influencing the industry growth. For instance, in August 2023, Nippon Paint Co., Ltd., East China Normal University, and East China University of Science and Technology, launched the Photocatalytic Purification Coating Technology Innovation Platform in August 2023 to encourage innovations and the usage of photocatalytic purification coating technology.

The photocatalytic coatings market is segmented into type, substrate, application, end-use, and region.

With respect to type, the zinc oxide (ZnO)-based photocatalytic coatings market is anticipated to gain notable traction between 2023 and 2032 primarily due to their high UV-absorbing and antimicrobial properties. Zinc oxide-based photocatalytic coatings have gained wide popularity attributed to their ability to reduce air pollution, eliminate harmful microorganisms, and provide self-cleaning surfaces. The extensive application of these coatings in various industries, including construction, automotive, and healthcare will also propel the segment growth.

Photocatalytic coatings market from the anti-microbial coatings application segment generated considerable revenue in 2022 and is estimated to record robust growth through 2032. Photocatalytic coatings have gained prominence due to their ability to break down and neutralize bacteria, viruses, and fungi under exposure to light. In the wake of global health concerns, the demand for surfaces and materials that inhibit the growth of harmful microorganisms has significantly soared. The widespread application of photocatalytic coatings in healthcare facilities, food processing, and public transportation, among other areas where hygiene is paramount will boost the segment growth.

Regionally, the Europe photocatalytic coatings market size is projected to depict lucrative growth between 2023 and 2032 attributed to the increasing adoption of eco-friendly and sustainable technologies, including photocatalytic coatings. The onset of the COVID-19 pandemic pushed regional market participants to focus on comprehensive testing to identify and investigate the uses of photocatalytic coating systems against the virus. For instance, in June 2023, Budapest-based Resysten Science and Research (Resysten) introduced its ground-breaking photocatalytic coating technology in the U.K. for substantially collecting air-polluting gases. The ongoing R&D collaborations and the strong emphasis on sustainability will also add to steady market growth.