Global Antimicrobial Coatings Market Overview
The key driver impacting the antimicrobial coatings market is the rising prevalence of healthcare-acquired infections and the augmented need for high-grade antimicrobial coating to minimize transmission on the surface. For instance, As per World Health Organization, out of every 100 hospitalized patients at any given time, 10 in developing nations and seven in developed nations will obtain at least one healthcare-associated infection. Furthermore, the healthcare-associated infection is considerably higher in low- and middle-income compared to high-income countries, specifically in patients admitted to intensive care units and in neonates. HAIs account for about 1.7 million infections and 99,000 associated deaths every year in an American hospital as per the Centers for Disease Control (CDC). Among healthcare-acquired infection, around 32 percent is urinary tract infections. Moreover, rising awareness programs and the active participation of hospitals to reduce healthcare-associated infections by using antimicrobial coatings contributes to antimicrobial coatings market demand in the coming years. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Antimicrobial Coatings market size was valued at around USD 8.1 billion in 2020 and is estimated to grow at a CAGR of about 13.1% during the forecast period 2021 to 2027.
The rising construction & renovation activities due to rising living standards and easy availability of loans are likely to augment the demand in the forecast period. The Oxford economics Global Construction 2030 report, estimations shows that the construction output total volume will amplify by 85% to $15.5 trillion worldwide by the end of the year 2030. The three major countries China, the US, and India are accountable for high growth and it represents 57% of all global growth. However, the high cost of products and highly skilled labor requirement may hamper the market in the long run. Also, growing concerns about the toxicity of nanoparticles impede the development of market. Yet, the present industry trends, such as the growing usage of novel applications, are expected to offer several beneficial market opportunities to the key players.
The Antimicrobial coatings market is vast, with many local and global players. The Antimicrobial coatings market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. The prominent players studied in the report include AkzoNobel N.V., PPG Industries Inc., Nippon Paint Co. Ltd., RPM International, The Sherwin Williams Company, DSM, Burke Industrial Coatings LLC, Diamond Vogel Paint Company, Axalta Coating Systems, and DuPont de Nemours.
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In this research report, the Antimicrobial Coatings market is segmented by product, application, and region.
Analysis by Product:
By product, the report is categorized into antimicrobial powder coatings (silver, copper, and other), surface modifications & coatings (e.coli, listeria, pseudomonas, and others). The surface modifications & coatings segment dominates the product segment with over 53% in the forecast period. It is due to the product's ability to alter the material surface by bringing chemical, physical, and biological characteristics different from those found actually found on the material surface. Also, the rising demand for implant devices as it helps in imparting antimicrobial benefits to the implant devices contribute to the high demand for surface modifications & coatings in the coming years.
Analysis by Application:
By application, the report is categorized into medical & healthcare, food & beverage, building & construction, HVAC system, protective clothing, transportation, and others (consumer electronics, appliances, and packaging). The medical segment dominates the application segment with over 42% share in 2020. It is due to the augmented utilization owing to its properties, such as they protect surfaces from microbes such as parasites, fungi, bacteria, and germs. In addition, the growing demand for antimicrobial coatings in implantable catheters and surgical instruments is non-toxic, biocompatible, and bio-stable, thus adding growth to the medical and healthcare segment. Moreover, the rising number of hospitals, and the escalating necessity for healthcare facilities, creates a need for sophisticated devices and equipment, contributing to the high demand for antimicrobial coatings from the medical and healthcare segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Antimicrobial Coatings market, the North America region dominates globally with a 43% market share in the forecast period. It is due to the increasing demand for non-residential construction projects, such as hospitals, schools, and colleges, over the forecast period. Also, rising healthcare expenditure in the U.S. and the presence of various coatings manufacturers in the U.S., including SurModics, Inc. and Hydromer, Inc., are driving regional growth. Moreover, the growing initiatives and research studies undertaken by CEFPI with EPA to educate schools and colleges about the quality of air contribute to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Product
- Antimicrobial Powder Coatings (Silver, Copper, and Other)
- Surface Modifications & Coatings (E. Coli, Listeria, Pseudomonas, and Others)
By Application
- Medical & Healthcare
- Food & Beverage
- Building & Construction
- HVAC System
- Protective Clothing
- Transportation
- Others (Consumer Electronics, Appliances, and Packaging)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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