Abstract
Photocatalytic CO₂ reduction is considered a theoretically ideal yet practically demanding approach for converting solar energy into chemical fuels under ambient conditions. Over recent decades, notable progress has been achieved in photocatalyst design — from simple oxides to complex Z-scheme systems, porous architectures, and dual-cocatalyst configurations. Nevertheless, a central question remains: Can this strategy evolve from a laboratory concept into an industrially viable technology? This review critically assesses the current status of photocatalytic CO₂ reduction, highlighting recent advances in material development and outlining persistent challenges, including low solar-to-chemical efficiency, limited selectivity, insufficient visible-light absorption, and scale-up barriers. Selected pilot-scale demonstrations are examined, offering insights into system-level design and emerging performance benchmarks. A comparative evaluation of electro-, thermo-, plasma-, and bio-catalytic pathways is also provided, positioning photocatalysis within the broader CO₂ utilization landscape in terms of energy input, carbon footprint, and techno-economic feasibility. Particular emphasis is placed on techno-economic indicators and the commercial prospects of CO₂-derived products. The review concludes by identifying key scientific and policy milestones required to advance photocatalytic CO₂ reduction toward a meaningful role in a circular, low-carbon economy.