Market Synopsis
According to MRFR analysis, Global Antimicrobial Coatings Market size was valued at around USD 4 Billion in 2019 and is projected to reach around USD 7.2 Billion by the end of 2027 at 6% CAGR.
The growth of the Global Antimicrobial Coatings Market is linked to the growth in construction activities across the globe, especially in developing countries. The increased demand for antimicrobial coatings in the healthcare industry is likely to propel the growth of the global market. They are used in the coatings of medical devices, doors, window panels, and handles, among others. Additionally, stringent government regulations are mandating the usage of safe and bacteria-free school and healthcare premises, which is likely to boost the demand for antimicrobial coatings. Additionally, they are widely used in the food industry to prevent fruits and vegetables from bacteria and fungi. They are known to kill E. coli, listeria, and Pseudomonas, which causes food poisoning and respiratory diseases. The global pandemic crisis due to the outbreak of the COVID-19 virus has made end users more cautious, which is likely to propel the growth of the antimicrobial coatings market during the study period.
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However, factors such as the lack of awareness among end users and the availability of substitutes are likely to impact the growth of the global antimicrobial coatings market.
Segmentation:
By Product
· This segment is further segmented into antimicrobial powder coatings and surface modifications and coatings.
· The antimicrobial coating is further segmented into silver, copper, and others. This segment holds the largest share of the global antimicrobial coating market. These coatings are widely used in mold remediation, construction, HVAC system, and food service industry applications.
· Surface modifications and coatings are further segmented into E. coli, listeria, Pseudomonas, and others. They are widely used in the food industry to prevent microbial accumulation on fruits and vegetables. E. coli, listeria, and Pseudomonas are the microbes that cause food poisoning, respiratory diseases, and skin infections.
By Application
· This segment is sub-segmented into indoor air quality, antimicrobial textiles, mold remediation, construction, food, and healthcare.
· Indoor air quality holds the largest market share. Antimicrobial coatings are widely used to maintain the air quality in HVAC systems, ducts, vents, air purifiers, and air filters.
· The antimicrobial textiles segment is likely to witness moderate growth in the global market. Antimicrobial coatings are widely used in fabrics such as carpets, socks, awnings, and tents to prevent microbial contamination and discoloration and degradation.
· Mold remediation is projected to witness the fastest growth in the global market. This is attributed to the rising demand for antimicrobial coatings in damp weather, especially in North American and European countries.
· The construction segment is driven by the growth in the demand for antimicrobial coatings in wall and ceiling coatings, as well as in interior components such as doors and handles.
· In the food segment, antimicrobial coatings are usually used in the foodservice industry to prevent infections from microbes such as E. coli, listeria, and different types of fungus. With the growing e-commerce segment and home-delivery services, the growth of antimicrobial coating in this segment is projected to witness notable growth in the forecast period.
· The healthcare segment is expected to witness healthy growth in the coming forecast period. This is due to the growing prevalence of healthcare-associated infections and growing investments in the healthcare industry.
Competitive Landscape
The global antimicrobial coatings market Size is consolidated with the prominent players holding most of the market share. Manufacturers are increasingly investing in the development of new antimicrobial activities through advanced nanotechnologies to achieve a leading position in the global market. Furthermore, they are also engaged in product developments and expansion through mergers & acquisitions.
By Region
· North America: Market growth is driven by the growing per capita healthcare expenditure and growing construction and renovation activities in North America.
· Europe: The flourishing food industry and huge construction industry in Europe to drive the growth of the regional market.
· Asia-Pacific: Asia-Pacific is expected to be the largest and fastest-growing regional market.
· Latin America: The increasing construction activities and food industry are fueling the demand for antimicrobial coatings in Latin America.
· Middle East & Africa: The rising awareness and government expenditure on construction, especially in GCC countries, is fueling the demand for antimicrobial coatings in the region.
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