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“Stringent regulations and growing adoption among end-users are projected to drive the antimicrobial coatings market.”
The global antimicrobial coatings market size is projected to grow from USD 3.3 billion in 2020 to USD 5.6 billion by 2025, at a compound annual growth rate (CAGR) of 10.7% between 2020 and 2025. The global market has witnessed growth primarily due to stringent government regulations to prevent the spread of healthcare-acquired infections (HAIs) and to ensure paramount safety & hygiene in the medical and healthcare sector. Due to the COVID-19 pandemic, the demand for antimicrobial coatings has been increasing drastically in the medical & healthcare industry. Factors such as technological advancement, new product development, and growing adoption among several industrial applications are supporting the growth of the antimicrobial coatings market.
“Silver-based antimicrobial coatings is projected to witness the highest CAGR during the forecast period.”
Silver-based antimicrobial coatings market is projected to witness the highest growth during the forecast period, both in terms of value and volume. The increase in this segment is attributed to its high efficacy rate, long-lasting effect, low toxicity, and suitability with the industrial application.
“The medical & healthcare segment projected to lead the antimicrobial coatings market from 2020 to 2025.”
The medical & healthcare segment is the largest and fastest-growing application. Stringent government regulation pertaining to the HAIs in the medical and healthcare sector supports the growth of the market. During the COVID-19 pandemic, the antimicrobial coatings have gained significant attention to prevent the spread of viruses and to safeguard the patient and Hospital staff at temporary built and existing healthcare facilities. With the growing adoption and development of the new medical devices and implants, incorporating antimicrobial coatings provides a boost for market growth.
“North America projected to account for the maximum share of the global antimicrobial coatings market during the forecast period.”
North America is projected to lead the global antimicrobial coatings market from 2020 to 2025. The North American antimicrobial coatings market is driven by the rising demand from the medical & healthcare sector to inhibit the growth of bacteria and microbes, causing HAIs. Due to the COVID-19 pandemic, the US is severely impacted and had the highest number of infected people. As a preventive measure, the touch surfaces, such as beds, handles, medical devices, instruments, and protective gear, were coated with antimicrobial coatings to ensure the utmost safety of people at healthcare facilities. Also, due to the stringent regulations pertaining to the indoor air quality, the HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the required air quality by inhibiting the growth of mold and bacteria.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and other executives from various key organizations operating in the antimicrobial coatings market.
- By Company Type: Tier 1: 40%, Tier 2: 20%, and Tier 3: 40%
- By Designation: C-level Executives: 20%, Directors: 20%, and Others: 60%
- By Region: North America: 40%, Europe: 15%, Asia Pacific: 40%, and Rest of World: 5%
The global antimicrobial coatings market comprises major manufacturers such as AkzoNobel (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems (US), PPG Industries (US), Nippon Paint Holdings (Japan), DuPont de Nemours (US), RPM International Inc. (Japan), Diamond Vogel Paint Company (US), BASF SE (Germany), and Burke Industrial Coatings LLC (US).
The market study covers the antimicrobial coatings market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, material, application, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the antimicrobial coatings market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall antimicrobial coatings market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.