The global antimicrobial coatings market size is estimated to arrive at USD 21.5 billion by 2028. It is projected to develop by 13.1% CAGR during the period of forecast.
Rising concerns between the manufacturing companies and clients regarding clean-up and avert the increase of fungus, bacteria, and mold, on apparatuses as well as on buildings, etc. are likely to steer the demand for the antimicrobial coatings.
Due to the globally growing cases of Covid-19, the demand for the product is expected to augment in the packaging application as well as the medical devices industries. The incessantly increasing demand for packaging products along with the medical devices during pandemic will completely influence the market. As a result of the existence of key healthcare product manufacturing companies within the region, North America is projected to lead the global antimicrobial coatings market.
Owing to their exceptional antimicrobial possessions, silver sourced biocides are extensively utilized in medicinal functions. Besides, the increasing demand for implantable medical devices as well as the rising problem of Cardiovascular Diseases (CVDs) is estimated to help the general demand, during the subsequently eight years.
The global market for antimicrobial coatings is subdivided, on the basis of the product, into surface modification & coatings and antimicrobial powder coatings. The surface modification & coatings section was the major product sector and held the major, above 53.0% revenue share, in 2020.
As a result of the greater demand for copper sourced, silver sourced plus additional coatings, the antimicrobial powder product section is likely to observe the highest CAGR, throughout the forecast period
Silver sourced products are utilized like antimicrobial agents, due to their belongings for example, shield counter to microbial enlargement, ecological nature, non-toxicity, greater thermal constancy, and incessant performance for an elongated period.
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Further key findings from the report suggest:
• The increasing Covid-19 cases within the nation, the accessibility of strong healthcare infrastructure, and exposure to compensation are the factors, expected to propel the demand for highly developed medical devices as well as the healthcare services
• In 2020, North America held the major revenue share and will keep hold of the most important place, all through the forecast period
• The air conditioning & ventilation systems section held the highest, more than 22.0% share in 2020, in terms of volume
• In terms of revenue, the mold remediation application sector is projected to record the maximum CAGR, during the forecast period
• Owing to the greater demand for sophisticated medical devices along with the healthcare services, the antimicrobial coatings market in the U.S. is expected to witness 13.7% CAGR, during the forecast period
• The antimicrobial coatings assist in putting off the increase of microbes in Heating, Ventilation & Air Conditioning (HVAC) systems
• The expenditures concerned in remediating a mold infected building can be shocking particularly at what time the building contains substandard coatings. This is likely to be a key factor for the greater expansion percentage of the section
Million Insights segmented the global antimicrobial coatings market based on Application, Product, and Region.
Antimicrobial Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
• Antimicrobial Powder Coatings
• Surface Modifications & Coatings
• E. Coli
Antimicrobial Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
• Sanitary Facilities & Kitchen
• Air Conditioning & Ventilation Systems
• Food Processing & Packaging
• Antimicrobial Textiles
• Mold Remediation
• Medical Devices
Antimicrobial Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Various companies for antimicrobial coatings market are:
• PPG Industries Inc.
• AkzoNobel N.V.
• The Sherwin Williams Company
• RPM International
• Nippon Paint Co. Ltd.