According to the latest report by IMARC Group, titled “Antimicrobial Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 2.8 Billion in 2018. Antimicrobial coatings inhibit the growth of mold, germs, fungi, bacteria and parasites on a variety of surfaces, thus enhancing cleanliness and hygiene. These coatings improve the shelf life and functionality of finished products by minimizing bad odors, staining and material degradation. They offer long-lasting protection against germs and reduce the chances of discoloration by preventing the physical attachment of pathogens to the coated surfaces. Their application across residential and commercial spaces also offers enhanced quality of life by providing a comparatively safer and cleaner environment. They also are a cost-effective option as they reduce the maintenance charges related to the replacing or cleaning of unsanitary objects. As a result, they are extensively utilized to sterilize walls, doors, gloves, carpets, textiles, counters, heating, ventilation and air conditioning (HVAC) vents, surgical masks, and medical tools.
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Global Antimicrobial Coatings Market Trends:
The thriving healthcare industry is one of the key factors driving the market growth as antimicrobial coatings are extensively used in healthcare facilities to sterilize surfaces and medical devices. Their application across clinics, hospitals and nursing homes reduces the transmission of dangerous pathogens and prevents the chances of infections associated with the devices implanted in a patient’s body. These coatings are non-toxic and biocompatible, thus significantly reducing the chances of bacterial infection. Moreover, growing health consciousness amongst a majority of the population has led paint manufacturers to include these coatings in their paints and primers. Since the indoor air quality can have a significant impact on the human health, a considerable focus on improving the air quality has led users to widely utilize these paints and primers in their homes and office spaces. Apart from this, antimicrobial food equipment coatings are also gaining popularity amongst the users to pack food items as they enhance the quality of food, increase shelf life and ensure safety by reducing pathogen growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.4 Billion by 2024, expanding at a CAGR of 11.5% during 2019-2024.
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- On the basis of the product type, the market has been divided into silver antimicrobial coatings, copper antimicrobial coating and others. Amongst these, silver antimicrobial coating is the most preferred product type.
- Based on the application, the market has been categorized into indoor air quality, mold remediation, medical/healthcare, food and beverage, textile, and others.
- On the geographical front, North America holds the leading position in the market, accounting for the majority of the total market share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market including Akzo Nobel N.V., BASF SE, Diamond Vogel, Axalta Coating Systems, Nippon Paint Company Ltd, PPG Industries, Royal DSM, RPM International Inc., The DOW Chemical Company., The Sherwin-Williams Company and Axalta Coating Systems.
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