The global antimicrobial coatings market is expected to grow at a CAGR of around 10.8% from 2020 to 2027 and expected to reach the market value of around US$ 6,756.2 Mn by 2027.
Antimicrobial coatings contain a variety of active agents that kill microbes such as bacteria, viruses, moulds, fungi, and others.
Impact of COVID-19 on antimicrobial coatings market
The COVID-19 pandemic has focused the world's attention on contamination spread facilitated by high touch surfaces. In response, surfaces and coatings capable of minimizing the presence of active viral pathogens are being investigated for use in a variety of settings, including healthcare centers, long-term care facilities, public transportation, schools, and various businesses, in order to reduce human exposure and mitigate the spread of infectious pathogens. Increasing government and private investment to combat COVID 19 transmission is likely to encourage the use of antimicrobial coatings. The market is expected to expand as governments and private sectors increase spending to reduce the risk of surface contact propagation. Furthermore, increased spending on hospital facility renovations to reduce the prevalence of virus outbreaks and infections is expected to boost the market.
Healthcare associated infections (HAIs) fuel the growth of global antimicrobial coatings market
In recent years, healthcare-associated infection has been the most common adverse event in both developed and developing countries. According to World Health Organization (WHO) statistics, 7% of developed-country patients and 10% of developing-country patients were infected with at least one healthcare-associated infection during treatment. According to the Centers for Disease Control and Prevention, 1.7 million hospitalized patients annually acquire HCAIs while being treated for other health issues, and more than 98,000 of those patients (one in 17) die each year. Thus, the growing awareness program and active participation of hospitals to reduce healthcare associated infections by using antimicrobial coatings is expected to drive the growth in the global antimicrobial coatings market.
Market Growth Factors
Major factors expected to drive the growth of the antimicrobial coatings market during the forecast period include increasing demand in HVAC systems, the medical and healthcare sector leading market growth during and after the CoVid-19 pandemic, and an increase in demand from the food and beverage industry. Furthermore, the vastly integrated supply chain, the increase in construction and renovation activities, and the rise in living standards are a few of the factors expected to drive the growth of the antimicrobial coatings market over the forecast period. Furthermore, the easy availability of loans, the rise in parental concerns, and the growing need for safe environments are some of the other factors expected to support the growth of the antimicrobial coatings market.
The global antimicrobial coating market is segmented based on material and application. Material is bifurcated into antimicrobial powder coatings and surface modifications & coatings. Antimicrobial powder coatings are further sub segmented as silver, copper, and other. Surface modifications & coatings is further sub segmented as E. coli, listeria, pseudomonas, and others. By application, the market is segregated as sanitary facilities & kitchen, air conditioning & ventilation systems, food processing & packaging, antimicrobial textiles, mold remediation, construction, medical devices, healthcare, and others
In terms of materials, the surface modifications and coatings product segment is expected to dominate the market in the coming years. This high share is attributed to the product's ability to modify the surface of a material by introducing physical, chemical, or biological characteristics that differ from those found on the material's original surface.
In terms of application, the healthcare segment will hold the lion's share of the market during the forecast period. One of the major industries that makes extensive use of smart antimicrobial coatings is healthcare. These coatings are mostly used on surgical instruments because they help to prevent the spread of germs and bacteria among patients, doctors, and caregivers. AMCs contain active ingredients that prevent microorganisms from growing on a surface. This aids in the formation of a toxic or non-toxic barrier for harmful microorganisms. Anti-microbial coatings are also used in the healthcare industry for surgical masks, gloves, bandages, wound dressing, and hospital textiles (woven and non-woven), among other things.
North America dominates the antimicrobial coatings market, Asia Pacific fastest growing regional market
The North American region controlled the majority of the global market. The region's growth has been fueled in large part by continuous innovation in the healthcare industry and increased production of processed foods. The United States has a high demand for anti-microbial coatings among North American countries, as it is one of the most affected by COVID-19. The construction and healthcare industries account for the majority of the demand. The preference for anti-microbial coated medical equipment is growing in the United States as a result of the various initiatives undertaken by the government as well as the country's hospitals to prevent nosocomial infections. There is also an increase in the use of anti-microbial coatings in public and high-traffic areas to prevent the spread of pathogens that can cause disease, which adds to the country's demand for anti-microbial coatings. As a result, the factors listed above are expected to have a significant impact on the antimicrobial coatings market in the coming years.
On the other hand, Asia Pacific will exhibit fastest growing CAGR in the coming years. Asia Pacific is projected to observe significant amount of growth in the antimicrobial coatings market because of the development of the major end-use industries, like healthcare, construction, and food processing and packaging. Furthermore, the strong manufacturing base of the packaging products industry in China, Japan, and India, as well as increased sales of e-commerce and packaged food products, is expected to drive the growth of the antimicrobial coatings market in the coming years.
Antimicrobial coatings market is consolidated and major industry players. The prominent players of the global antimicrobial coatings market include Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., Koninklijke DSM N.V., The Sherwin Williams Company, and among others. Industry players are rapidly developing new products along with offering resistance against wide variety of viruses, bacteria, and spores to gain brand recognition in market and broaden customer base.
Market By Product
Antimicrobial Powder Coatings
Surface Modifications & Coatings
Market By Application
Sanitary Facilities & Kitchen
Air Conditioning & Ventilation Systems
Food Processing & Packaging
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Antimicrobial coatings market is expected to reach a market value of around US$ 6,756.2 Mn by 2027.
The antimicrobial coatings market is expected to grow at a CAGR of around 10.8% from 2020 to 2027.
Based on product, surface modifications & coatings segment is the leading segment in the overall market.
Increasing demand in the HVAC systems; the medical and healthcare sector is expected to lead the market growth during and post-covid-19 pandemic, the rise in the demand from the food and beverage industry are the prominent factors that drive the demand for antimicrobial coatings market.
Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., Koninklijke DSM N.V., The Sherwin Williams Company, and among others..
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years