LOS ANGELES, June 04, 2021 (GLOBE NEWSWIRE) – The Global Antimicrobial Coatings Market is expected to grow at a CAGR of approximately 10.8% from 2020 to 2027 and reach a market value of over $ 6,756.2 million by 2027.
North America has historically dominated the antimicrobial coatings market and is expected to do so again during the forecast period. During the forecast period, the construction industry in North America is expected to experience significant growth due to increased demand for non-residential construction projects such as hospitals, schools and colleges. In addition, the implementation of the “Affordable Healthcare Act” in the United States has resulted in the construction of care units and hospitals. The growing population is expected to increase the construction of office buildings, industrial factories, schools and colleges, driving the demand for antimicrobial coatings in the construction industry.
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Asia-Pacific, on the other hand, is expected to have the fastest growing CAGR in the coming years. The growth of major end-use industries, such as healthcare, construction, food processing and packaging, is driving the market. The strong manufacturing base of the packaging products industry in China, Japan and India, combined with increasing sales of packaged food products, is expected to drive the market growth in the near future. In addition, the favorable policies implemented by the Indian government, such as Foreign Direct Investment (FDI) and Make in India, are expected to create many growth opportunities for the food processing and healthcare industries, which, in turn, are expected to increase the consumption of antimicrobial coatings in the region.
The increase in construction and renovation activities due to the increased standard of living and the ease of access to loans is expected to stimulate demand for the products. Antimicrobial coatings are commonly used in public buildings to coat walls, handles and counters. In addition, the growing epidemic of diseases such as COVID 19 and SARS is likely to encourage use due to strict regulations in the construction industry to reduce the risk of contamination by touch, thus increasing the share of antimicrobial coatings market. Growing parental concerns and the growing demand for safe school environments are likely to increase demand. Antimicrobial coatings are commonly used on classroom and hallway walls, as well as railings, to help prevent the spread of bacterial disease. These coatings are safe and do not leave toxic residues, making them suitable for use in schools and nurseries, which is likely to drive demand for antimicrobial coatings.
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Growing concerns about cleanliness in various industries have resulted in increased demand for products, leading to rapid development of the global market. Antimicrobial coatings are used to protect surfaces against microorganisms such as parasites, germs, bacteria and other unwanted microorganisms.
The global antimicrobial coatings market is segmented on the basis of material and application. The material is divided into antimicrobial powder coatings and surface modifications and coatings. Antimicrobial powder coatings are further sub-segmented into silver, copper and others. Surface modifications and coatings are further sub-segmented into E. coli, listeria, pseudomonas and others. By application, the market is separated into sanitary and kitchen facilities, air conditioning and ventilation systems, food processing and packaging, antimicrobial textiles, mold removal, construction, medical devices, healthcare and others.
Some of the main competitors are Akzo Nobel NV, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., Koninklijke DSM NV, The Sherwin Williams Company, and among others.
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Some of the major observations regarding the antimicrobial coatings industry include:
- In April 2018, Lonza announced a new product, namely Proxel Spektra Preservative “. The new product launched is an industrial product resulting from the degradation of yeasts, molds and bacteria. This product launch expands the portfolio of biocidal products without the company’s methylisothiazolinone and attracts new customers.
- In October 2015, Sherwin-Williams announced the launch of a new product called “Paint Shield”. The newly launched product is an antimicrobial paint capable of killing stubborn pathogenic bacteria within two hours of exposure. This product launch enables BASF to improve its product offering to hospitals and healthcare facilities to control the spread of nosocomial infections.
- In February 2015, Sono-Tek Corp. announced a partnership with Mercer Group Ltd. The collaboration whereby the latter company obtains full access to Sono-Tek’s antimicrobial spray coating systems. This allows Sono-Tek Corp. to expand the antimicrobial coatings market.
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