Artificial Photosynthesis Market Size

Artificial Photosynthesis Market size was valued at USD 86.79 million in 2024 and is set to exceed USD 624.97 million by 2037, registering over 16.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of artificial photosynthesis is evaluated at USD 111.06 million.

This growth is attributed to the rising concerns about the environment. Population expansion or density is one of the causes of environmental deterioration. To improve sustainability, individuals are more dedicated to modifying their behavior and are more concerned about tackling environmental concerns. Further, artificial photosynthesis would absorb and decrease carbon dioxide to make fuels, which would help to utilize liquid fuel without harming the environment or overheating the earth. In 2019, more than 70% of people globally, united for increasing environmental concerns.

In addition to these, factors that are believed to fuel the market growth of artificial photosynthesis include increasing government funding and grants for research and development. To boost profitability, productivity, and efficiency even further, the government is providing subsidies and funding provided for the development of artificial photosynthesis technologies. For instance, to produce fuels from sunshine, the US Department of Energy (DOE) has announced a proposal to invest up to USD 100 million over five years in research on artificial photosynthesis, to create an artificial photosynthesis system that, is similar to natural photosynthesis.