The global antimicrobial coatings market size is anticipated to reach USD 21.5 billion by 2028, registering a CAGR of 13.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing concerns among consumers and various manufactures about cleaning and preventing the growth of bacteria, mold, and fungi on buildings, equipment, etc. are expected to drive the product demand.
The product demand is expected to increase in the medical devices and packaging application industry owing to the rising cases of Covid-19 around the world. The continuously growing demand for medical devices and packaging products for Covid-19 will positively affect the market. North America is expected to dominate the global market due to the presence of major healthcare product manufacturers in the region.
Silver-based biocides are widely used in medical applications owing to their excellent antimicrobial properties. Recently, a new U.S.-based othiazolin-based biocide, n-butyl-1,2-benzisothiazolin-3-one is also used as an antimicrobial agent to prevent the spread of germs. Moreover, the rising demand for implantable medical devices and the increasing burden of Cardiovascular Diseases (CVDs) is expected to aid the overall demand over the next eight years.
On the basis of product, the global market is segmented into antimicrobial powder coatings and surface modification & coatings. The surface modification & coatings segment was the prominent product segment and accounted for the largest revenue share of over 53% in 2020. The antimicrobial powder product segment is expected to witness the fastest CAGR over the forecast period due to the high demand for silver-based, copper-based, and other coatings. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, high thermal stability, and protection against microbial growth.
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Antimicrobial Coatings Market Report Highlights
• The mold remediation application segment is expected to register the highest CAGR, in terms of revenue, over the forecast period
• The cost involved in remediating a mold-infested building can be staggering, especially when the building has inferior coatings, which is anticipated to be a primary factor for the high growth rate of the segment
• In terms of volume, the air conditioning and ventilation segment accounted for the maximum share of over 22% in 2020
• These products help deter the growth of micro-organisms in Heating, Ventilation & Air Conditioning (HVAC) systems
• North America accounted for the highest revenue share in 2020 and will retain the leading position throughout the forecast period
• The market in the U.S. is projected to witness a CAGR of 13.7% from 2021 to 2028 due to the high demand for advanced medical devices & healthcare services.
• The availability of well-developed healthcare infrastructure, reimbursement coverage, and rising Covid-19 cases in the country are anticipated to drive the demand for advanced medical devices& healthcare services.
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Antimicrobial Coatings Market Segmentation
Grand View Research has segmented the global antimicrobial coatings market on the basis of product, application, and region:
Antimicrobial Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
• Antimicrobial Powder Coatings
• Surface Modifications & Coatings
• E. Coli
Antimicrobial Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
• Sanitary Facilities & Kitchen
• Air Conditioning & Ventilation Systems
• Food Processing & Packaging
• Antimicrobial Textiles
• Mold Remediation
• Medical Devices
Antimicrobial Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central and South America
• Middle East & Africa
List of Key Players of Antimicrobial Coatings Market
• AkzoNobel N.V.
• Nippon Paint Co. Ltd.
• PPG Industries Inc.
• RPM International
• The Sherwin Williams Company
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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