Antimicrobial Coatings Market worth $6.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 3, 2021 /PRNewswire/ -- According to the new market research report "Antimicrobial Coatings Market by Type (Silver, Copper, Titanium Dioxide), Application (Medical & Healthcare, Food & Beverage, Building & Construction, HVAC System, Protective Clothing, Transportation), & Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Antimicrobial Coatings Market size is projected to grow from USD 3.9 billion in 2021 to USD 6.4 billion by 2026, at a CAGR of 10.5%. The global antimicrobial coatings market size is projected to grow from USD 3.9 billion in 2021 to USD 6.4 billion by 2026, at a CAGR of 10.5% between 2021 and 2026. The growth is attributed to the growing adoption of antimicrobial coatings across several industrial applications to ensure the utmost safety from the bacteria, pathogens, and other microbes.
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Silver segment estimated to lead the antimicrobial coatings market in 2020.
By type, the silver-based segment accounted for the largest share in the overall antimicrobial coatings market. It is used widely due to its properties, such as high efficacy rate, long-lasting effect, durability, and strength, among others. Also, the higher efficiency and low toxic nature compared to other types support the growth of the market. Also, increasing penetration in the medical & healthcare, protective clothing, food & beverage, and HVAC system applications.
The medical & healthcare sector is estimated to be leading consumer of antimicrobial coatings.
The medical & healthcare segment led the overall antimicrobial coatings market in 2020, both in terms of value and volume. In the medical & healthcare industry, the growing concern about hospital-acquired infections (HAIs) and its related impact on humans are major driving factors for the antimicrobial coatings market. There has been a significant increase in the patient pool across the globe due to the COVID-19 pandemic. For the treatment of these patients, temporary hospitals and facilities have been established in several countries, wherein the utmost care has been taken to avoid the spread and growth of the COVID-19 virus and other bacteria on the surfaces. For the same, these temporary and existing healthcare facilities are applying antimicrobial coatings on the surfaces, such as door handles, trails, beds, healthcare instruments, and medical devices used for the treatment.
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North America projected to account for the largest share of the antimicrobial coatings market during the forecast period.
North America is projected to have the largest share in the global antimicrobial coatings market, in terms of both value and volume, from 2021 to 2026. 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. In North America, the US is severely impacted by the COVID-19 pandemic compared to Canada and Mexico. There is a significant increase in the demand from the medical & healthcare application due to the COVID-19 pandemic to evade the transmission of bacteria from surface to surface. Several manufacturers supply antimicrobial coatings to these facilities to ensure the safety of patients and hospital staff. 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.
AkzoNobel (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems (US), PPG Industries (US), Nippon Paint Holdings (Japan), and DuPont de Nemours (US) are the key players operating in the antimicrobial coatings market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the antimicrobial coatings market.
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