The global artificial photosynthesis market is anticipated to grow at a significant CAGR of 12% during the forecast period. The research for artificial photosynthesis is driven by factors such as increasing demand for green technology and initiatives for sustainable development. However, the involvement of the high cost of the technology act as a barrier to the artificial photosynthesis market. This newly arrived system is far more efficient and economical in comparison with photo voltaic solar power plants. Artificial photosynthesis is a process that converts and stores the energy from sunlight in the chemical bonds of a fuel. It replicates the natural process of photosynthesis. It could offer faster and more efficient production of hydrogen on a large scale which could accelerate the use of fuel cell vehicles. Artificial Photosynthesis is a new technology that is aiming to mimic natural photosynthesis and it produces clean energy. However, the artificial photosynthesis process does not necessarily depend on producing carbohydrates, rather it also utilizes these elements to produce electricity. This system is made by producing hydrogen and other biofuels that are utilized to generate electricity.
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The growing adoption of green technologies to meet the targets set by the governments for reducing greenhouse gas emissions and carbon emissions is a key factor driving the growth of this regional market. Moreover, regional countries such as Japan and South Korea are growing their investments in innovative energy & fuel generation technologies, to become the market leader by focusing on growth such as fuel cells, carbon recycling, and others. For instance, in February 2022, JX Nippon Mining & Metals Corp., developing materials for artificial photosynthesis decided to participate in Phase 2 activities of the Japan Technological Research Association of Artificial Photosynthetic Chemical Process. Moreover, it is developing materials that contribute to de-carbonization throughout society and develop materials for artificial photosynthesis, to achieve carbon neutrality.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Artificial Photosynthesis Market by Technology
- Photo-Electro Catalysis
- Co-Electrolysis
- Others (Nanotechnology, Hybrid Process)
Global Artificial Photosynthesis Market by Application
- Hydrogen
- Chemicals
- Hydrocarbons
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Berkeley Lab
- BIOECON
- Carbon Solutions, Inc.
- California Institute of Technology
- ENGIE SA
- Evonik Industries AG
- Fujitsu Ltd.
- Future Carbon
- Mitsubishi Chemical Holdings Corp
- Panasonic Holdings Corp
- Siemens AG
- SunHydrogen, Inc.
- Toshiba Corp.
- Toyota Central R&D Labs., Inc.
- Twelve, formerly known as Opus 12
The Report Covers
- Market value data analysis of 2021 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global artificial photosynthesis market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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