Anti-Microbial Coatings Market to Reach USD 11.6 Billion by 2027; Rising Demand from Medical & Packaging Industry to Aid Growth
Pune, Maharashtra, India, November 13 2020 (Wiredrelease) Allied Analytics –:Rise in demand for protective clothing in the wake of pandemics, increase in adoption in medical applications, and implementation in indoor air/HVAC applications drive the growth of the global anti-microbial coatings market. However, lack of R&D activities hinders the market growth. On the other hand, surge in investments by governments and market players creates new opportunities in the coming years.
According to the report, the global anti-microbial coatings industry generated $4.0 billion in 2019, and is expected to reach $11.6 billion by 2027, witnessing a CAGR of 13.3% from 2020 to 2027.
• Various studies regarding the effectiveness of anti-microbial coatings against Covid-19 have gained momentum. Researchers from the University of Arizona (UA) stated that these coatings can eliminate coronavirus for 90 days with only one application.
• The demand for the coatings has been increased significantly for walls, glass, floors, and railings at schools, hospitals, residential, commercial, and institutions.
• Owing to sudden increase in demand, there has been supply-demand gap. As operations get on track during the post-lockdown period, the supply would increase over time.
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The anti-bacterial segment to maintain its lead position during the forecast period:
Based on type, the anti-bacterial segment accounted for the largest market share in 2019, contributing to nearly two-thirds of the global anti-microbial coatings market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to portray the highest CAGR of 13.6% from 2020 to 2027. This is due to its effectiveness against various types of bacteria. The report also analyzes segments such as anti-viral, anti-fungal, and others.
The silver segment to maintain its leadership status during the forecast period:
Based on coating material, the silver segment held the largest share of the market, contributing to more than one-third of the global anti-microbial coatings market in 2019, and is estimated to maintain its leadership status during the forecast period. However, this segment would grow at the highest CAGR of 13.7% from 2020 to 2027. This is attributed to its utilization as anti-bacterial and anti-microbial agent, no harmful effects on human beings, and acceptance for medical purposes. The research also analyzes segments such as copper, graphene, titanium dioxide, and others.
North America to maintain its dominance by 2027:
Based on region, North America held the largest market share in terms of revenue with more than two-fifths of the global anti-microbial coatings market in 2019, and is expected to maintain its dominance by 2027. This is attributed to increase in demand for its efficacy in preventing the spread of pandemics such as Covid-19 and enhanced healthcare infrastructure. However, Asia-Pacific is estimated to maintain its highest CAGR of 13.8% during the forecast period. This is due to surge in demand for products and improved healthcare systems.
Leading Market Players
• Arkema SA
• Nippon Paints Holdings, Co. Ltd.
• PPG Industries, Inc.
• Akzo Nobel N.V.
• BASF SE
• DuPont De Nemours, Inc.
• Axalta Coating Systems, LLC
• Nano-Care Deutschland AG
• The Sherwin-William Company
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