In the report “Antimicrobial Coatings Market: By Protection Types (Explosion Prevention, Explosion Proof, Explosion Segregation); By Applications (Automation Systems, Lighting, Material Handling Systems, Surveillance Systems, Signaling Systems) - (2018 - 2023), published by IndustryARC, the key factors driving the market include increase in incidence of Hospital Acquired Infections (HAIs), rise in geriatric population and growing awareness among end consumers.
America with major share in the Antimicrobial Coatings Market
Americas is the largest market for antimicrobial coatings mainly owing to increasing adoption of these coatings especially in the HVAC, Construction and Medical end-user segments. The Americas market for antimicrobial coatings is estimated to grow at a CAGR of 10.27% and is forecast to reach $2.9 billion by 2023. The fastest growing regional segment for antimicrobial coatings is Europe which is projected to grow at a CAGR of 12.41% mainly driven by the growing adoption of these coatings in mold remediation and electronic industry segment. The European market is estimated to reach $488.48m by 2023.
Selected Raw Material Analysis done in the full Report:
Bacterial infection has become one of the major problems for infection of humans from the surfaces of medical devices and other metals substances. Antimicrobial market helps to overcome these growing problems. The market is generally categorized based on the raw materials into organic and inorganic coatings. Inorganic raw materials are barrier coatings and is estimated to be $1.7 billion in 2017. The market for this segment is estimated to grow at a CAGR of 10.7% and is forecast to reach $4.19 billion by 2023. Amongst all silver is the most common type of materials which is used due to its high resistivity to bacteria and toxicity. Silver antimicrobial coatings market is estimated to grow at a CAGR of 10.06% and is forecast to reach $3.5 billion by 2023. Copper antimicrobial coatings market is estimated to be the fastest and is forecast to grow at a CAGR of 12.7% and is projected to reach $356m by 2023 from $179.3m in 2017. The antibacterial coating industry has been developing so rapidly, and it is possible that many in the professional cleaning market are unaware of just how fast it has been expanding.
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Excerpts on Market Growth Factors
• The growing and aging population worldwide (65 years +) demands more operating room time, which in turn creates greater and growing demand for efficacious and high-throughput sterilization methods, including the need for antimicrobial coated devices and equipment.
• Among all the antimicrobial coatings, silver and copper based coatings are the most extensively used materials. Nevertheless, organic coatings coming into picture, the status will change in the future.
• The higher new techniques assure higher resistance for microban, for the consumer which will make the substitution easy with continuous technological development.
• The market usually suffers if the price war for consumers and the quality reliability factor take a backseat. So, market competitive one with top companies are competing on price front of the product. This will bring an upsurge if one and all can able to accept.
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Key players of the Antimicrobial Coatings Market
AkzoNobel Coatings Inc., Dow Chemicals, BASF SE, PPG Industries, Inc., RPM International and Sherwin-Williams are the key market players in the global coil coating market. AkzoNobel offers performance coatings products for end use applications such as photo-catalytic coatings, HVAC, food processing and packaging, construction, mold remediation, medical, electronics, textiles, pharmaceuticals and others. BASF on the other hand is one of the major players in chemicals industry. PPG industries, Inc. offer coatings under industrial coatings and performance coating business segments. These two segments hold 93% of revenue share of the company. New innovative products launch will be the major development strategy for PPG industries since last five years.
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