Global Photochemical Reactor Market: By types (aggregate, Non-aggregated), By applications (Electricals, Chemical Industrial, Medical Treatment, Automotive, Aviation), By regions (North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa)
REPORT HIGHLIGHT
The global photochemical reactor market was valued at the U.S. $ xx million in 2019. It is projected to grow at a CAGR of x% to become U.S. $XX in 2027. This type of meteoric growth can be attributed to end-user application growth in the XYZ industries.
A photochemical reaction, water splitting, and photochlorination reaction are all carried out in the photochemical reactor. In the presence of a photon and a catalyst, the reaction takes occurs. As a result, it's known as a photocatalysis or photochemical process. The photocatalytic reactor is another name for the reactor. A triple jacketed immersion well, medium and high-pressure mercury lamps, lamp power supply, a chiller for cold water circulation, safety cabinet, and magnetic stirrer make up the photochemical reactor's full setup.
MARKET DYNAMICS
The global photochemical reactor marker is growing at a faster pace
Photocatalytic reactor design, building, and scale-up for large-scale industrial applications are still a work in progress. From a technological standpoint, significant research and development efforts have been made to resolve several difficulties in bulk reactors, such as photon transfer limitation, mass transfer limitation, oxygen insufficiency, and a lack of reaction pathway control. These technological developments result from joint efforts of both industry players, research intuitions, and global universities. Increasing product developments and technological enhancement for current products open up new application opportunities and revenue streams for contemporary photochemical reactor makers. The major growth driver for this market is the improved effectiveness in chemical reactions that come with such equipment. The absorption of a photon in the materials acts as a catalyst for the reactions. Earlier chemical compounds were used as chemical catalysts for the reactions. But increased cost and difficulty in procuring raw materials made industries look for better solutions for catalytic reactions. Photon catalysis is cost-effective, as the major cost is involved in setting up the equipment and maintenance.
Other industries such as automotive etc., are seeing value in this equipment because of the ease of contaminant removal in water and decomposition of different materials.
High initial costs and limited research and development compared to industrial needs are some of the factors hampering the growth of the global market.
MARKET SEGMENTATION
The global photocatalytic reactor market can be segmented on reactor types and their industrial applications.
TYPE TAKEAWAY
Aggregated reactors and non-aggregated reactors are two types available in the market. As of now, the aggregated type of reactors holds the highest market share with over 30%. Such reactors help industries analyze the decomposition of organic components. Chemical industries can also utilize such aggregated equipment to study the degradation of AZO dyes. Degradation of organic ingredients of water can also be efficiently studied under this equipment. Another widely used application of such aggregated equipment is that of water purification. Many chemical industries and automotive industries need to use clear and distilled water for their utilization. It can be made possible by the splitting up of the various components and particles present in it.
Alternatively, non-aggregated reactors are forecasted to grow at a fast rate. It is because of the improved innovation and research/technology being carried out in this field.
APPLICATION TAKEAWAY
Chemical Industrial, Medical Treatment, Automotive, and Aviation are four major industries that use photochemical reactors in their manufacturing processes. The chemical industry accounts for the highest share across all application segments. The rising need for a chemical solution in household and industrial needs is a major factor for increasing demand. Various applications such as degradation of ionic particles and anionic particles in industrial wastewater, removal of different toxic metals in industrial wastewater, and decomposition of other water sources such as seawater wastewater to remove effluents are present in this industry. The automotive segment is a highly increasing segment in developing countries like India, China, and Brazil. Increasing demand for air travel and the growing fleet size of major airlines is improving demand in the aviation industry. The electrical sector is also benefited from increased economic developments across the world. Overall, these three segments are expected to contribute significantly to the global demand for photochemical reactors.
REGIONAL TAKEAWAYS
Global industry can be analyzed by North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to rise as leading regions for the global photochemical reactor industry. This growth is mainly attributed to the growth of application industries such as the chemical and aviation industries. The existence of major international players in the region and high expenditure on research and product development in collaboration with universities are some major supply-side factors driving the positive market growth.
Asia Pacific is the emerging reason expected to grow at the highest CAGR during the forecast period. The Chemical and automotive industries are driving major growth in the region. Countries such as India and China are emerging as big demand-driven markets as the purchasing power of people in these countries is increasing. It is driving industrial growth such as photochemical reactors, which find application in allied industries such as automobile and chemical industry. Latin America is one of such emerging regions, with Brazil is emerging as a major demand area in the region. Brazil is also one of the major manufacturing hubs where North American companies are looking for expansion in production. These regional developments are expected to increase the market size for photocatalytic reactors globally during the forecast period.
COVID-19 IMPACT
COVID-19 pandemic caused a domino effect on global markets due to indefinite lockdowns and international travel and shipment restrictions. Countries in Asia Pacific regions were highly impacted due to the pandemic spread of its economic effects. India and China, which are two major manufacturing hubs in the region, were influenced, and manufacturing and demand capacities were reduced for a definite period in 2020. Developed markets such as the USA and U.K. were affected by high infection rates and lukewarm demand for finished goods. End-user application industries for photocatalytic reactors such as aviation and automobile suffered from a significant reduction in demand for cars and air travel services. The new product development and modification programs in current product chains were put on hold to meet the current operational deficit caused due to pandemic-driven economic crisis. The medical sector was the only positive sector during this period. Due to increased demand driven by capacity building programs by various state and national governments and new investments by companies were positive factors for photochemical reactor demand in the medical equipment industry. Based on mixed signals from the global industrial landscape and efforts for controlling pandemic and revive economic activities to pre-pandemic level, growth of the photocatalytic reactor markets is expected to catch up with the forecast rate during the remaining period till 2027.
KEY PLAYERS
Major players of the market are Boston Micromachines Corporation, Iris AO, Thorlabs, Teledyne e2v, Northrop, Yamasaki, Active Optical Systems, Shanghai Naai Precision Instrument Co. Ltd., Puri Materials, Physics Corp., Retsch, Adaptica, Flexible Optic, Imagine Optic, and Peschl Ultraviolet GmBH.
The main companies are putting a lot of effort into improving production capabilities to enhance product efficiency and shelf life. With regional companies enhancing their production outputs, global players are increasingly entering into strategic collaborations with regional companies to fulfill industrial demand and reduce the overall cost of the final products.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Manufacturers
- Raw Material Suppliers
- Distributors
- Original Equipment Manufacturers
- Consulting Firms
- Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL PHOTOCHEMICAL REACTOR MARKET KEY PLAYERS
- Boston Micromachines Corporation
- Iris AO
- Thorlabs
- Phasics Corp.
- Retsch
- Adaptica
- Teledyne e2v
- Northrop
- Flexible Optic
- Yamasaki
- Active Optical Systems
- Imagine Optic
- Shanghai Naai Precision Instrument Co. Ltd.
- Puri Materials
- Peschl Ultraviolet GmBH
GLOBAL PHOTOCHEMICAL REACTOR MARKET, BY TYPE
- Aggregated
- Non-aggregated
GLOBAL PHOTOCHEMICAL REACTOR MARKET, BY APPLICATION
- Chemical Industry
- Medical Treatments
- Automotive
- Aviation
GLOBAL PHOTOCHEMICAL REACTOR MARKET, BY REGIONS
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. PHOTOCHEMICAL REACTOR MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Types
2.1.2. Market Snippet by Applications
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. PHOTOCHEMICAL REACTOR KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. PHOTOCHEMICAL REACTOR APPLICATION STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. PHOTOCHEMICAL REACTOR MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. PHOTOCHEMICAL REACTOR MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. PHOTOCHEMICAL REACTOR MARKET – BY TYPES
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2020 & 2027 (%)
7.2. Aggregated
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Non-aggregated
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. PHOTOCHEMICAL REACTOR MARKET– BY APPLICATIONS
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2020 & 2027 (%)
8.2. Chemical Industry
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Electricals
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Medical Treatments
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.5. Automobiles
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.6. Aviation
8.6.1. Overview
8.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. PHOTOCHEMICAL REACTOR MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By types, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. U.K. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.8.4. U.K. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Applications, 2016 - 2027 (US billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.9. Rest of LATAM
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Applications, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. U.A.E. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.7.4. U.A.E. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Boston Micromachines Corporation
10.2.1.1. Company Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. Iris AO
10.2.3. Thorlabs
10.2.4. Physics Corp.
10.2.5. Retsch
10.2.6. Adaptica
10.2.7. Teledyne e2v
10.2.8. Northrop
10.2.9. Flexible Optic
10.2.10. Yamasaki
10.2.11. Active Optical Systems
10.2.12. Imagine Optic
10.2.13. Shanghai Naai Precision Instrument Co. Ltd.
10.2.14. Puri Materials
10.2.15. Peschl Ultraviolet GmBH
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
