According to the latest report by IMARC Group, titled “Antimicrobial Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global antimicrobial coatings market size reached US$ 3 Billion in 2019. Antimicrobial coatings prevent the growth of mold, germs, fungi, bacteria and parasites on different surfaces. These coatings provide long-lasting protection against germs and minimize the chances of discoloration. Besides this, they are cost-effective and help in improving the shelf life and functionality of products. As a result, they are applied on walls, counters, door handles and other surfaces, and sprayed on gloves, masks, carpets and textiles across the globe.
Global Antimicrobial Coatings Market Trends:
According to the World Health Organization (WHO), contaminated food with harmful bacteria, viruses, parasites or chemical substances causes more than 200 diseases, ranging from diarrhea to cancer. As a result, there is a rise in the utilization of antimicrobial coatings in the food and beverage (F&B) sector for storing, packaging and transportation purposes. Moreover, on account of rapid urbanization, sedentary lifestyles and inflating income levels, individuals are shifting towards ready-to-eat (RTE) snacks and packaged food products. This, in turn, is strengthening the global antimicrobial coatings market growth. Furthermore, as infections and infectious diseases act as significant challenges for human health, the application of antimicrobial coatings is increasing significantly in the healthcare sector for reducing microbial activity and developing antimicrobial resistance (AMR). This, in confluence with the growing concerns about hospital-acquired infections (HAI), is also bolstering the market growth. Looking forward, the market value is projected to reach US$ 6 Billion by 2025, expanding at a CAGR of 11.3% during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into silver, copper and other antimicrobial coatings. At present, silver antimicrobial coatings exhibit a clear dominance in the market.
- On the basis of the application, the market has been segregated into indoor air quality, mold remediation, medical/healthcare, food and beverage, textile, and others.
- Region-wise, North America enjoys the leading position in the market. Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Akzo Nobel N.V., BASF SE, Diamond Vogel Paint Company, Axalta Coating Systems Ltd., NIPSEA Group, PPG Industries, Inc., Koninklijke DSM N.V., RPM International Inc., The DOW Chemical Company and Sherwin-Williams Company.
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