Pune, India, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Antimicrobial Coatings Market Size, Share, Growth Factors, Opportunity and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Raw Material, Application, and Geography," the market value is projected to grow from US$ 2.92 billion in 2019 to US$ 7.51 billion by 2028; the market is expected to grow at a CAGR of 11.2% from 2020 to 2028.
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Global Antimicrobial Coatings Market: Competitive Landscape and Key Developments
Cupron, Alistagen Corporation, AK Coatings Inc., Fiberlock, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., Nano-Care Deutschland AG, and Axalta Coating Systems are a few of the major players operating in the antimicrobial coatings market. Companies in this market focus on strategies such as investments in research and development activities and new product launches
Antimicrobial Coatings Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 2.92 Billion in 2019 |
| Market Size Value by | USD 7.51 Billion by 2028 |
| Growth rate | CAGR of 11.2% from 2020-2028 |
| Forecast Period | 2020-2028 |
| Base Year | 2020 |
| No. of Pages | 148 |
| No. of Tables | 56 |
| No. of Charts & Figures | 75 |
| Historical data available | Yes |
| Segments covered | By Raw Material and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Cupron, Alistagen Corporation, AK Coatings Inc., Fiberlock, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., Nano-Care Deutschland AG, and Axalta Coating Systems. |
North America holds the largest share of the antimicrobial coatings market as the leading manufacturers of antimicrobial coatings are located in the region. In addition, the presence of a large COVID-19 patient pool and substantial investment in building the healthcare system is attributed to the market development. Furthermore, ongoing investments in the country's healthcare sector would help business growth. The growth of antimicrobial coatings is rising in the North American region, thanks to the rising demand for non-residential construction projects, such as hospitals, schools, and colleges. Furthermore, due to the stringent regulations governing indoor air quality, HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the necessary air quality by inhibiting mold and bacteria growth. These factors are fueling the antimicrobial coatings market growth in the region.
Rising Instances of Hospital-Acquired Infections (HAIs) Boost Antimicrobial Coatings Market Growth
Healthcare-associated infections (HCAI) or nosocomial infections are those associated with the equipment and devices, such as catheters or ventilators, used during medical procedures. Over the period, the prevalence of HCAI diseases has risen, which has become a serious concern among various economies. For instance, according to National Center for Biotechnology Information, it has been estimated that almost 2 million patients in the US suffer from HCAI annually, out of which ~98,000 people die. Therefore, in 2016, AMiCI, an association representing universities and institutes, organizations, and manufacturers, was formed in Europe to increase awareness among people and organizations about the research and application of antimicrobial coatings. Antimicrobial coatings are the layers applied on medical equipment that are exposed to sensitive bodily fluids such as blood and urine. The rising focus on the impact of HCAI through several programs, along with the active participation of hospitals and manufacturers to generate the significance of the antimicrobial coatings, is expected to stimulate the growth in the global antimicrobial coatings market.
Antimicrobial Coatings Market: Segmental Overview
Based on raw material, the antimicrobial coatings market is segmented into silver, copper, titanium dioxide, and others. The silver segment held the largest market share in 2020. Silver has the most effective antimicrobial activity while being the least toxic to animal cells. Silver's high effectiveness, low toxicity, long-lasting impact, and durability are some of the major factors driving its development. The rise in demand can also be due to rising demand from the medical & healthcare, food & beverage, and other industrial applications to ensure occupational safety and hygiene and to prevent the growth of COVID-19 virus, bacteria, and other microbes on commonly touched surfaces. These factors fuel the demand for silver and drive the segment's growth.
Based on application, the antimicrobial coatings market is segmented into medical, HVAC, mold remediation, building & construction, food & beverages, and others. The copper segment is projected to register a higher CAGR during the forecast period. Copper is a commonly used antimicrobial active ingredient due to its potency and chemical stability, allowing it to be integrated into several substrates. Copper's antimicrobial mechanism has shown that copper ions are released when microbes land on a surface (e.g., from touching, coughing, or sneezing). These copper ions enter the organism by breaking down the cell membrane of bacteria or the coating of a virus.
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Impact of the COVID-19 Pandemic on Antimicrobial Coatings Market
Various industries such as food and beverages, construction, and healthcare faced unprecedented challenges during the COVID-19 pandemic 2020. Moreover, antimicrobial coating manufacturers faced significant challenges in production and distribution due to supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions, eventually leading to price hikes. The operations and processes were halted across the globe due to the shortage of workforce and limited supply of raw materials. Many renovation projects were put on hold, and builders experienced delays in project completion. These factors negatively impacted the market growth. However, the rising preference towards using such coatings in government & private healthcare facilities and significant investment by prominent manufacturers to protect doctors and medical workers during pandemics such as COVID-19 is another factor driving the antimicrobial coatings market growth.
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