The global antimicrobial coatings market Growth accelerated by rising demand for antimicrobial products

 

Antimicrobial coatings are widely used on surfaces to inhibit the growth of microorganisms like bacteria, fungi, mold and mildew. These coatings help prevent transmission of hospital acquired infections and improve hygiene. They are applied on frequently touched surfaces in healthcare facilities, food processing plants and other commercial spaces.

The global antimicrobial coatings market is estimated to be valued at US$ 4.65 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand for antimicrobial coatings has grown significantly owing to the COVID-19 pandemic. Various industries are actively adopting these coatings to prevent transmission of viruses and other microbes. Healthcare facilities, in particular, have increased their usage of antimicrobial surfaces on medical devices, equipment and infrastructure to curb infections. Similarly, food packaging and processing plants are also employing antimicrobial coatings to maintain hygiene and food safety standards. This rising demand from end-use industries is expected to drive the market growth over the forecast period.

Segment Analysis

The global antimicrobial coatings market is segmented into type, application, and end-use industry. Based on type, the silver segment held the largest market share in 2022 and is expected to remain the dominating segment during the forecast period. Silver-based antimicrobial coatings exhibit strong, broad-spectrum antimicrobial activities and are effective against bacteria, viruses, and molds. Their high effectiveness and long-lasting properties make them suitable for numerous indoor and outdoor applications.

Key Takeaways

The global antimicrobial coatings market is expected to witness high growth over the forecast period of 2023-2030. The global antimicrobial coatings market is estimated to be valued at US$ 4.65 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis:

North America currently dominates the antimicrobial coatings market and is expected to continue its dominance over the forecast period. This is attributed to the rising application of antimicrobial coatings in the medical & healthcare sector in countries like the US and Canada. The Asia Pacific region is projected to grow at the fastest rate during the same period, owing to the increasing construction activities and rapidly expanding healthcare industry in countries such as China and India.

Key players:

Key players operating in the antimicrobial coatings market are AkzoNobel Coatings Inc., BASF, RPM International Inc., Dow Chemicals, PPG Industries, and Diamond Vogel. These players are focusing on new product launches and expansions to strengthen their market presence. In July 2022, AkzoNobel introduced a new range of microbial resistant coatings for enhanced hygiene and cleanliness in indoor spaces.