New York, Sept. 29, 2023 (GLOBE NEWSWIRE) -- In a comprehensive research analysis conducted by ChemView Consulting, the Anti-microbial Coatings Market is anticipated to cross a valuation of US$ 10,268.6 million and exhibit a remarkable CAGR of 8.9% from 2023 to 2033. This extensive report offers key insights into market trends, major drivers, challenges, and prominent players in the industry.
North America Remains the Most Lucrative Market for Anti-microbial Coatings
North America is likely to remain the largest market for anti-microbial coatings, holding a substantial share of approximately 32.9% in 2023. The region's robust presence in the industry can be attributed to increased demand for non-residential construction projects like schools, hospitals, and colleges. The medical & healthcare sector emerges as the dominant application segment, contributing nearly 43.8% to the total revenues.
The anti-microbial coatings market is witnessing a surge in demand, mainly due to growing concern regarding cleanliness in various professional industries. Anti-microbial coatings are specialized formulations that are applied to surfaces to prevent the growth and spread of microorganisms such as bacteria, viruses, fungi, and other diseases. These coatings have gained significant attention and experienced market expansion owing to their crucial role in maintaining hygiene and preventing the transmission of diseases in various industries and settings.
Prominent companies in the industry scenario include Microban International, Zonitise, AkzoNobel N.V., Lonza, AK Steel Corp., Diamond Vogel, Axalta Coating Systems, DuPont, Nippon Paint Holdings Co., Ltd., and PPG Industries, Inc.
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Increasing Awareness of Hygiene and Infection Control Precursor to Demand for Anti-microbial Coatings
Growing awareness of the significance of maintaining clean and sanitary environments, particularly in healthcare settings, food processing, and public places, is boosting demand for antimicrobial coatings. Moreover, increased worldwide healthcare spending, along with the need to prevent healthcare-associated infections (HAIs), has resulted in increased utilization of antimicrobial coatings in hospitals and healthcare facilities.
Key Challenges & Opportunities for Anti-microbial Coatings:
Developing novel antimicrobial coatings that are both effective and economically viable can be costly. Thus, the costs of research and development can be significant, and there is no assurance of success. However, collaboration with healthcare providers, research institutes, and industrial partners can result in the development of advanced antimicrobial coating solutions as well as access to new markets.
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Regional Insights:
- The US market is expected to experience significant growth due to increased awareness of cleanliness and infection control in the wake of global health concerns. This market is expected to account for a significant share of the global anti-microbial coatings market.
- Stringent rules and a growing awareness of the benefits of these coatings in the European market are expected to boost sales. Moreover, with a growing emphasis on public health and safety, the European market is expected to see significant R&D investments, resulting in the launch of advanced anti-microbial coating technologies.
- Japan's commitment to technological advancement, combined with its well-established industrial abilities, positions the country favourably in this industry. Japanese businesses are actively investing in research and development, which has resulted in the development of innovative antimicrobial coating solutions that are suitable for a variety of applications.
- The China & India market is expected to experience significant growth owing to the ever-expanding healthcare sector and the government's commitment to improving healthcare facilities. Additionally, advancements in technology and research are driving innovation in the anti-microbial coatings industry.
Anti-microbial Coatings Market Outlook & Forecast by Segmentation:
Type: The non-metallic segment is anticipated to lead the anti-microbial coatings market because non-metallic coatings are frequently considered safer and more environmentally friendly than metallic coatings.
Application: The medical & healthcare segment is expected to dominate the market share mainly because of an increasing demand for antimicrobial coatings in the medical and healthcare sectors to maintain hygienic conditions.
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Leading Players in the Market
Key companies dominating the anti-microbial coatings market include Microban International, Zonitise, AkzoNobel N.V., Lonza, AK Steel Corp., Diamond Vogel, Axalta Coating Systems, DuPont, Nippon Paint Holdings Co., Ltd., and PPG Industries, Inc.
Recent Developments
- In October 2022, Microban International, the world's leading manufacturer of antibacterial chemicals and odor control products, is pleased to introduce LapisShieldTM, a unique, non-heavy-metal technology that can be easily integrated into any water-based coating ingredient.
- In November 2020, Zonitise, a leader in antimicrobial technologies, introduced an antimicrobial surface coating that continuously destroys hazardous microorganisms.
- ArmorThane decided to take the initiative and produce an antimicrobial coating to help combat these bacterial invasions.
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ChemView Consulting is a leading market research firm, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, Clean Energy & Power, Life Sciences, Industrial Equipment, Mobility, and Consumer Products. We are one of the top market intelligence firms specializing in business analytics with expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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