The global antimicrobial coatings market was valued at US$ 2,918. 30 million in 2019 and is projected to reach US$ 7,514. 56 million by 2028; it is expected to grow at a CAGR of 11. 2% from 2020 to 2028.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antimicrobial Coatings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Raw Material and Application" - https://www.reportlinker.com/p06073121/?utm_source=GNW
The increasing health care associated infections and rising use of antimicrobial coatings in healthcare setting for sterilization of medical devices propel the demand for antimicrobial coatings.The healthcare industry is expected to witness monumental transformation owing to the factors such as rapidly growing urbanization, rising instance of infectious diseases, and shifting lifestyle of consumers.
However, the use of antimicrobial coatings is not limited to medical industry and has been expanding across diversified end-use industries such as indoor air/HVAC applications, building and construction, food & beverage, mold remediation, and packaging.With effective research studies and development procedures, researchers and scientists are coming up with innovative products related to antimicrobial coatings.
The latest innovation is associated with the development of multifunctional, low cost, and durable antimicrobial coatings. This is expected to provide lucrative opportunities to the key players operating in the market.
Based on raw material, the antimicrobial coatings market is segmented into silver, copper, titanium oxide, and others.The market for the copper segment is expected to grow at at the fastest pace during the forecast period.
Copper is a commonly used antimicrobial active ingredient due to its potency and chemical stability, which allows it to be integrated into several substrates. Copper’s antimicrobial mechanism has shown that when microbes land on a surface, copper ions are released (e.g., from touching, coughing, and sneezing). These copper ions enter the organism by breaking down the cell membrane of bacteria or the coating of a virus. Copper ions can also bind to important proteins in the body (such as enzymes), causing them to malfunction and eventually destroy the organism. Copper has been shown to destroy 99.9% of most pathogens within two hours of contact and, in some cases, to outperform other costly metals with antimicrobial activity, such as silver and gold.
By region, the antimicrobial coatings market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA).Asia Pacific is estimated to register the highest CAGR in the market during the forecast period.
The presence of developing countries is witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the antimicrobial coatings market.The massive growth of the antimicrobial coatings in Asia Pacific market is attributed to the rising healthcare industry in emerging economies, such as India and China, and the growing major end-use industries such as healthcare, construction, and food processing and packaging.
Further, the rising government and private funding to combat COVID-19 transmission promotes the use of antimicrobial coatings in Asia Pacific.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, travel bans, and business shutdowns.The chemical & materials are one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales.Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products.
The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related to this industry.
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 among the major players operating in the global antimicrobial coatings market.
The overall global antimicrobial coatings market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global antimicrobial coatings market.
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