Artificial Photosynthesis Market Segmentation:
Application Segment Analysis
The market is segmented and analyzed for demand and supply by application into hydrogen, hydrocarbon, chemicals, and others. Out of the four types, the hydrocarbon segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing usage of hydrocarbon. The majority of the hydrocarbons in the world are used for heating, producing electricity, and as fuels. The versatility and high energy density of hydrocarbons make them ideal and practical for many end-use applications, including feedstock for petrochemical plants, chemicals, and synthetic rubber. Further, artificial photosynthesis is anticipated to be a cost-effective method to create hydrocarbons using just carbon dioxide, water, and sunshine. For instance, the production of high-energy hydrocarbons using electron-rich gold nanoparticles as a catalyst has been discovered by scientists as a novel method of achieving artificial photosynthesis. In 2021, the entire usage of Hydrocarbon gas liquids (HGLs) made up more than 10% of all petroleum consumption in the United States.
Technology Segment Analysis
The market is also segmented and analyzed for demand and supply by technology into co-electrolysis, and photo-electrocatalysis. Amongst these two segments, the co-electrolysis segment is expected to garner a significant share. The growth can be attributed to the surging effects of greenhouse gases globally. Co-electrolysis is a great way to cut back on greenhouse gas emissions, by the electroreduction of CO2 into value-added products, such as carbon monoxide (CO). Further, optimal systems for carbon recycling are provided by integrated artificial photosynthesis, which combines high-efficiency solar and CO2 electrolysis at high productivity and selectivity. In contrast to natural photosynthesis, the integrated system aims for high energy conversion efficiency from sunlight to hydrocarbon products, taking advantage of both high efficiency in photovoltaic cells and individual component design freedom.
Our in-depth analysis of the global market includes the following segments:
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By Application |
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By Technology |
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