Rapid growth in the antimicrobial coating industry is witnessed to inhibit the development of bacteria and germs on contact point surfaces. A growing need for for microbial control has led to increased utilization of antimicrobial technologies, which avoid microorganisms from multiplying, and provide hygienic surfaces in hospitals, within the food industry and also help preserve the film in paints. These coatings are generally used to protect electronic appliances, HVAC products, food processing facilities, and medical packaging by suppressing the growth of microbes. As, absence of these antimicrobial coatings on air conditioning systems, textiles, construction applications such as corporate offices, residential building and in commercial areas are increasing the spread of adverse health effects among human beings. Furthermore, growing incidences of Hospital Acquired Infections (HAIs), increase in the geriatric population and growing awareness among end users is positively impacting the antimicrobial coatings demand. MyCroFence, developed by Croda, uses a novel surface active antimicrobial technology to create antimicrobial coatings. This innovative technology has been helpful for paint and coatings formulators to satisfy the stringent regulations brought about by new European Biocide Product legislations, along with increasing focus towards eco-friendly products which are safer for human health. The antimicrobial coatings are commonly applied to walls, door handles, counters, and on mechanical surfaces. They are also sprayed onto gloves, masks, carpets, and textiles. These coatings are majorly used by paint manufacturers for application on primer products and as wall paint, to limit the growth of pathogens in their respective facilities. The antimicrobial coatings market is projected to reach $4.3 billion by 2023 and is set to grow at a CAGR of 10.7% during the forecast period 2018-2023.
Worldwide, hospitals are recognized as the most suitable environment, which supports the growth of the bacteria, since a huge number of sick patients receive critical care here on a daily basis. Medical devices act as key carriers for healthcare-associated infections, thus increasing the necessity for antimicrobial coatings. Thus, both medical facilities and hospitals are using these coatings on their devices to prevent the growth and spread of bacteria and germs on medical instruments, and also to maintain the highest levels of safety standards. Developments in the medical industry coupled with the demand to eliminate growth of microorganisms on healthcare equipment is driving growth of the antimicrobial coatings market. Therefore, application of antimicrobial coatings in the medical end user industry is growing at a CAGR of 11.1% over the forecast period 2018-2023. Increasing awareness among end consumers regarding the prevalence of infectious disease along with changing lifestyles has been encouraging the utilization of antimicrobial coated devices. Cumulative usage of home test kits, ready-to-use microbes and infection control products which include ethylene dioxide sterilizer, disinfectants and immunochemistry products are stimulating growth of the antimicrobial coatings market.
North America is leading the antimicrobial coatings market in terms of revenue share, and held 72.1% share in 2017. This region is the frontrunner in terms of adoption of new technologies, which is leading to create a sound platform for both competent and sustainable development across various end user industries. For instance, medical and pharmaceutical industries are predominantly impacting for a positive growth in the U.S. antimicrobial coatings market. The U.S. is one of the leading economies globally in terms of healthcare spending, not only for adopting new measures but also for updating existing technologies. In Canada, increased spending in both the construction and food processing industries are creating a significant number of opportunities for extensive usage of antimicrobial coatings in the country. Mexico is acting as the second largest contributor, which increases the North American antimicrobial coatings market revenue. The growth in the industrial clusters especially in electronics, food processing and in packaging industries of this country are influencing the antimicrobial coatings demand.
Antimicrobial Coatings Market Growth Drivers:
- Hospital Acquired Infections (HAIs): The Centers for Disease Control and Prevention (CDP) estimate that nearly two million patients experience the ill effects of HAIs constantly and almost 100,000 out of them spread the same among healthy individuals. Every year, HAIs bring up extra human services costs to $4.5 billion. The U.S. government has responded to this issue and engaged in health awareness campaigns, quality assessment reports, and recommended usage of antimicrobial coated medical devices and equipment in hospitals. Healthcare spending and cost control measures are considered to be a high priority among people in both developed and developing countries. In the U.S., healthcare expenditure is higher per capita as compared to that of other developed nations. The growing rate of HAIs has led to an increase in demand of infection prevention and control products such as syringes, gloves, disinfectants, and disposable needles. The invention of several infectious disease testing kits and sanitation methods has also been contributing widely towards growing sales of antimicrobial coatings.
- Surgical Procedures: Spread of surgical infections through exposed areas during surgical procedures has necessitated the requirement for antimicrobial coatings in surgical equipment. Increasing number of surgical procedures are driving demand for antimicrobial coatings in the healthcare industry. U.K. health protection agency stated that more surgical infection rate is evident in England. It is 10.1% in case of large bowel surgery.
- Geriatric Population: Increase in the ageing population and the number of newly insured people are raising demand for medical services administration and surgical strategies. Increase in the ageing population across the world is also rising the demand for more efficient sterilization methods. These factors are in turn boosting the necessity for antimicrobial coated devices and equipment. In the U.S., increase in the average age of the population has led to healthcare professionals being constantly occupied with different treatments, which all require prevention of infectious diseases.
The Major Players in this Market Include:
Major players in the antimicrobial coatings market include Akzo Nobel N.V., E. I. du Pont de Nemours and Company, BASF SE, PPG Industries, Inc., RPM International Inc., and Sherwin-Williams Company. Akzonobel is well known for its business divisions, Dow Chemicals has a well-established geographical presence, and BASF is one of the key players in the chemicals industry.
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