Antimicrobial coatings when applied to surfaces inhibit microbial contamination. These coatings are largely utilized in medical devices while its other applications include doors, glass panels, textiles, gloves, etc. These coatings contain active ingredients that make them effective against bacterial and other types of infections. The demand for these coatings is reliant on public awareness regarding its benefits, government regulations and finally the adoption across various industries.
Antimicrobial Coatings Market Analysis:
The global antimicrobial coatings market reached a valuation of over USD 3.6 billion by 2019. It is expected to witness a compound annual growth rate of 10.5% from 2020 to 2026. At this growth rate, the market is anticipated to achieve a valuation of nearly USD 7.2 billion by 2026.
Recent Developments
1. The U.S. government spent over USD 600 million in May 2020 for the building of temporary facilities for the treatment of patients during the pandemic. The various surfaces such as beds, medical devices, instruments, PPEs, etc. were coated with antimicrobial coatings to ensure safety.
2. During the same period, Axalta Coating System supplied 7000-pound silver-based antimicrobial coatings to a Chicago-based temporary facility.
3. In April 2020, Shanghai-based Tong Ren Hospital received 290 gallons of MASTER’s MARK antimicrobial interior latex coatings through PPG industries.
4. The Indian Institute of Technology (IIT) developed a spray-based antimicrobial coating for PPEs in April 2020.
5. IIT Madras during the same period created textiles with antimicrobial material to defend against COVID-19.
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The research report analyses the ecosystem of the antimicrobial coatings market and categorizes it to forecast the revenues and analyse the trends in each of the following below-mentioned market segments.
By Type
• Surface Modification and Coatings
• Antimicrobial Powder Coatings
• Silver
• Copper
• Others
By Application
• Healthcare
• HVAC
• Sanitary Facilities
• Construction
• Food and Beverage
• Textile
Geographical Analysis
North America led the antimicrobial coatings market in 2019 and is projected to maintain its lead throughout the forecast period. Growing population and improved economic conditions is boosting the regional construction and healthcare sectors. This coupled with increasing awareness is propel the market growth. The Affordable Healthcare Act initiated by the U.S. government is triggering the construction of hospitals. Continuous innovation in the healthcare sector and rising demand for antimicrobial coated products is driving the market in the region.
The second-fastest growing regional antimicrobial coating market is Asia – Pacific. Rising coatings application in the packaging industry bolstered by the soaring e-commerce sales and demand for packaged food products is one of the drivers for antimicrobial coatings market in the region. The demand generated by the food & beverage, packaging, construction, and healthcare industries is anticipated to augment the regional market growth.
Company Profiles and Competitive Intelligence of Antimicrobial Coatings Market:
• AkzoNobel
• Sherwin-Williams Company
• Axalta Coating Systems
• PPG Industries
• Nippon Paint Holdings
• DuPont de Nemours
• RPM International Inc.
• Diamond Vogel Paint Company
• BASF SE
• Burke Industrial Coatings LLC
• AK Coatings, Inc.
• Troy Corporation
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