(PharmaNewsWire.Com, March 06, 2021 ) Meticulous Research® – leading global market research company published a research report titled “Antimicrobial Coatings Market by Material (Copper, silver), by Form (Aerosol, Powder), End User (Building and Construction, Food and Beverage, Automotive OEM and Components, Electronics, Healthcare and Pharmaceutical, Packaging)- Global Forecast to 2025”.
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According to this latest publication from Meticulous Research®, the global antimicrobial coatings market is expected to grow at a CAGR of 8.2% from 2019 to 2025 to reach $7.36 billion by 2025. The overall antimicrobial coatings market is driven by the factors such as increasing awareness about antimicrobial coatings, increasing adoption of antimicrobial coatings to reduce healthcare associated infections, and growing initiatives and funding from government and private organizations to develop antimicrobial coatings. In addition, increased microbial contaminated food recalls and increased use of antimicrobial coating in food packaging to reduce the chances of microbial contamination in packaged food products further drive the growth of the antimicrobial coatings market during forecast period. Moreover, emerging economies such as Latin America, South East Asia, and Africa with the low awareness regarding antimicrobial coatings provide significant business opportunities to the players operating in this market.
The global antimicrobial coatings market is mainly segmented by product (metal, organic), form (liquid, powder, aerosol), end user (automotive OEM and component, electronics, building and construction, food and beverages, machinery and equipment, materials, medical and life sciences, healthcare and pharmaceutical, and other end users), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on product type, the overall antimicrobial coatings market is segmented into metal coating and organic coating. Metal coatings segment commanded the largest share of the overall antimicrobial coatings market in 2019. The large share of this segment is attributed to the high adoption of metal based antimicrobial coatings by packaging industry and medical device manufactures, increasing funding from governments and organizations to develop metal based antimicrobial coatings to reduce healthcare associated infections, and growing demand for antimicrobial coatings in space missions. Moreover, the metal based antimicrobial coatings segment is further segmented into silver coating, copper coating, and other metal coatings. In 2019, silver antimicrobial coatings segment accounted for the largest share among all the metal coatings due to factors such as growing funding and approvals from the government for silver antimicrobial coated implants and rising adoption of silver based antimicrobial coating by electronic device manufacturers to address issues related to microbial contamination and diseases because of contaminated electronic devices. These coatings are also increasingly used in active packaging to increase the shelf life of the packaged food.
Based on form, the overall antimicrobial coatings market is segmented into liquid, powder, and aerosol form. Powder form is expected to witness a rapid growth during the forecast period, mainly due to its increasing adoption by various end users such as material manufacturers, automotive OEM and component manufacturers, and others owing to low or zero VOC emission. These coatings are majorly used in metal consuming applications such as automotive and equipment manufacturing due to its properties like scratch resistance, gloss retention, and durable quality finish on the metal parts. In addition, this coating form provides the long lasting and high colour-durability benefits at comparatively cheaper cost, which further supports the growth of the powder antimicrobial coatings market.
Based on end user, the overall antimicrobial coatings market is segmented into automotive OEM and components, electronics, building and construction, food and beverages, machinery and equipment, material, medical and life sciences, healthcare and pharmaceutical, and others. The building and construction segment accounted for the largest share of the overall market in 2019. The large share of this segment is attributed to growing threats of microbial deterioration of building material and rising Heating Ventilation and Air Conditioning (HVAC) related microbial contamination. Moreover, growing initiatives taken by the various organizations to address the issues related with microbial contamination in commercial buildings and construction sector further support the dominance of this segment.
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Geographically, North America commanded the largest share of the global antimicrobial coatings market, followed by Europe in 2019. The major share of this region is mainly attributed to the increasing number of contaminated drugs and food recall cases due to microbial contamination and various initiatives taken by the government and other organizations against the rising healthcare associated infections. In addition, increasing spending on R&D for advancement in antimicrobial coating is further driving the growth of the antimicrobial coatings market in this region. However, Asia-Pacific region is expected to witness a rapid growth during the forecast period.
Key players:
Some of the key players operating in the global antimicrobial coatings market are Akzo Nobel N. V. (The Netherlands), Lonza Group Ltd (Switzerland), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), The Sherwin-Williams Company (U.S.), DOW Chemical Company (U.S.), E. I. Du Pont De Nemours (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), RPM International Inc. (U.S.), Sciessent LLC (U.S.), Sika AG (Switzerland), BASF SE (Germany), and Jotun Group (Norway) among others.
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