Antimicrobial Coatings Market size worth over $6.3 billion by 2026
Published Date: April 13, 2020 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the Antimicrobial Coatings Market size is set to surpass USD 6.3 billion by 2026. Rapid utilization in hospitals to reduce the spread of viral and bacterial diseases to propel the market demand during the forecast period.
Antimicrobial coatings contain agents that inhibit the ability of microorganisms to grow and propagate on the surface of metal. They are utilized in wide variety of applications ranging from healthcare, construction, food service industry, and mold remediation. Industry players are rapidly investing in R&D to produce distinguished product lines by offering resistance to various types of bacteria, spores, and viruses in an attempt to gain brand recognition, thereby boosting antimicrobial coatings market.
E. coli protection antimicrobial surface modification market is likely to surpass USD 1.7 billion by 2026 owing to increasing food packaging regulations and rising prevalence of E. coli infections due to cross contamination. These products prevent microbial contamination from seafood to vegetarian items thus reducing the risk of E. coli-based infections and outbreaks. Furthermore, rising healthcare regulations by governments to ensure clinical safety and viability is likely to stimulate the demand for antimicrobial coatings.
Changing consumer perceptions on antibacterial & antimicrobial wallpapers owing to rising healthcare concerns should accelerate product growth from construction applications. Antimicrobial paints prevent discoloration, prevent growth of mold, fungus, and algae in damp environments. Strict regulatory compliances minimize infectious risk in various institutional buildings such as hospitals & schools is likely to augment antimicrobial coatings market share.
The market is likely to witness impact of COVID 19 epidemic as governments have implemented lockdown to flatten the curve of rising infections. The food industry is likely to witness disruptions in supply chain, social distancing measures by workers & farmers, restriction of movement, and reduced production rates. Furthermore, lock down of restaurants and restrictions on grocery shopping is likely to impact food industry, thereby restraining growth of antimicrobial coatings market.
Browse key industry insights spread across 240 pages with 288 market data tables and 29 figures & charts from the report, “Antimicrobial Coatings Market Size By Product (Antimicrobial Powder Coatings [Silver, Copper], Surface Modifications and Coatings [E. Coli, Pseudomonas, Listeria), By Application (Indoor Air Quality, Antimicrobial Textiles, Mold Remediation, Construction, Food, Medical & Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising awareness on potential benefits of silver antimicrobial coatings and increasing demand for air purifiers to boost market demand
Increasing awareness on adverse health effects of pollution and rising disposable incomes is likely to boost silver antimicrobial coatings product demand. These products restrict the propagation of microbes, pathogens, and viruses through air. Rising government investment to monitor air pollution and growing demand for green buildings should further propel the antimicrobial coatings market growth.
Silver antimicrobial powder coatings segment is likely to surpass USD 1.75 billion by the end of 2026 owing to rising awareness on potential benefits of silver’s antimicrobial properties. Industry players are rapidly adopting silver antimicrobial filters in air conditioning systems to gain competitive advantage in market. Furthermore, increasing investment in marketing to increase awareness towards side effects of air pollution is likely to boost the antimicrobial coatings market demand.
“As per industry forecasts, indoor air quality application segment is likely to grow with CAGR of over 10% owing to increasing demand for air purification systems in public buildings and offices”
Rising geriatric population in Europe and stringent healthcare regulations to reduce infection rates should boost product demand
Europe antimicrobial coatings market is likely to surpass USD 1.5 billion by the end of 2026 owing to rising demand for high quality coatings solution in healthcare industry. Antimicrobial coatings are widely used in manufacturing surgical instruments along with plastic food trays, and medical textiles. Stringent government regulations & high-quality medical facilities is making industry players to produce innovation and targeted solutions which is likely to boost the antimicrobial coatings market.
Rising geriatric population, stringent winter climate, and increasing prevalence of infections is likely to boost product demand. Antimicrobial coatings are utilized on hospitals walls to reduce transmission of harmful infections. Increasing government and private investment in health care industry to reduce the transmission of COVID 19 virus is likely to propel the antimicrobial coatings market value.
“As per industry forecasts, Europe healthcare application segment is likely to surpass $450 million by the end of 2026 owing to increasing demand for high quality solutions in healthcare industry and increasing investment to reduce the propagation of harmful viruses and bacteria”.
Industry players are rapidly investing in research & marketing to gain brand recognition in and competitive advantage in market sphere. Also, increasing cases of COVID 19 along with rising demand for high quality healthcare equipment is making manufactures to rapidly develop products that provide protection against various types of virus strains. Some key players in the antimicrobial coatings industry include BASF, Akzo Nobel N.V., Du Pont, Nippon Paint, RPM International, Koninklijke DSM N.V., Sherwin – Williams Company, Lonza, and AK Steel.