Antimicrobial Coatings Market Overview
The Antimicrobial Coatings Market size is estimated to reach more than US$7.2 billion by 2027, after growing at a CAGR of 11.1% during the forecast period 2022-2027. Antimicrobial Coatings are chemical agent that helps in the prevention of harmful micro-organisms such as bacteria, germs and others on the applied surfaces. Antimicrobial coatings are widely used as surface coatings for major industries, including medical for protective gloves, masks, hospital surfaces and others, thereby acting as a driving factor in the antimicrobial coating industry. In addition, the surging hygiene and surface protection awareness from microbial entities is propelling its growth scope. The major disruption caused by the COVID-19 outbreak impacted the growth of the antimicrobial coatings market due to disturbance in manufacturing, supply chain disruption, falling demand from major end-use industries and other lockdown restrictions. However, significant recovery is boosting the demand for antimicrobial coatings for a wide range of applicability and utilization in medical, construction, electronics and other sectors. Thus, the antimicrobial coatings industry is anticipated to grow rapidly and contribute to the Antimicrobial Coatings market size during the forecast period.
Antimicrobial Coatings Market Report Coverage
The report: “Antimicrobial Coatings Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Antimicrobial Coatings Industry.
By Form: Liquid
(Solvent-borne and Water-borne), Aerosol and Powder.
By Type: Metallic (Silver, Copper Titanium Dioxide and Others) and Non-Metallic (Polymeric and Organic).
By Application: Heating, Ventilation and Air Conditioning (HVAC) Systems, Protective Clothing, Mold Remediation, Glass Panels, Consumer Electronics, Protective Gloves and Others.
By End-use Industry: Medical & Healthcare, Building & Construction (Residential, Commercial, Industrial and Infrastructural), Food & Beverage, Textiles, Electrical & Electronics, Packaging (Rigid and Flexible) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle-East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].
- North America dominates the Antimicrobial Coatings Market, owing to growth factors such as the flourished base for the healthcare sector, flourished construction projects and fast-paced industrialization, which help boost the market growth in this region.
- The flourishing medical & healthcare industry sector across the world is propelling the demand for Antimicrobial Coatings for major utilization in surface coating, microbial protection, bedding, protective gloves, masks and others, thereby influencing the growth of the Antimicrobial Coatings market size.
- However, the high costs associated with it and the risk of toxicity from metal nanoparticles act as challenging factors in the Antimicrobial Coatings industry.
Figure: Antimicrobial Coatings Market Revenue Share by Geography, 2021 (%)
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Antimicrobial Coatings Market Segment Analysis – By Type
The metallic segment held a significant share of the Antimicrobial Coatings Market in 2021 and is projected to grow at a CAGR of 10.2% during the forecast period 2022-2027. The metallic segment is growing rapidly over the non-metallic type due to the preference for silver antimicrobial coatings across major industries because of the excellent features such as low toxicity and long-lasting antimicrobial effect against various microbes. Furthermore, the utilization of metallic antimicrobial coatings, based on silver due to hygiene factors, in the medical sector is propelling the growth scope. Thus, with flourished base in the medical & healthcare sector, the metallic type segment is anticipated to grow rapidly over the forecast period.
Antimicrobial Coatings Market Segment Analysis – By End-use Industry
The medical & healthcare segment held a significant share of the Antimicrobial Coatings Market in 2021 and is projected to grow at a CAGR of 9.7% during the forecast period 2022-2027. Antimicrobial coatings have a wide range of applications in the medical and healthcare sector for medical devices, protective gear and others due to their ability to offer protection against microbes on the surface. The medical & healthcare industry is rapidly flourishing due to growth factors such as growing healthcare infrastructure and a high rate of chronic health incidents. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the total pharmaceutical market value for EU member nations at ex-factory prices increased from US$147,686 in 2019 to US$253,027 in 2020. According to the India Brand Equity Foundation (IBEF), the Indian pharmaceuticals sector is expected to reach US$65 billion by 2024 and further expand to US$120-US$130 billion by 2030. With the rapid growth scope and established healthcare production, the utilization of antimicrobial coatings in hospitals for applications in bedding, surfaces and others is projected to rise. This, in turn, is anticipated to boost its growth scope in the medical & healthcare sector during the forecast period.
Antimicrobial Coatings Market Segment Analysis – By Geography
North America held the largest share of up to 36.5% in the Antimicrobial Coatings Market in 2021. The lucrative growth scope for antimicrobial coatings in this region is influenced by the rise in medical & healthcare infrastructure, flourished base for construction activities and urbanization. The medical & healthcare industry is rapidly growing in North America owing to growth factors such as rising expenditure on drugs, growing healthcare infrastructure and a high rate of chronic health incidents. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the estimated growth of the pharmaceutical sector in North America was 5.4% for 2022. According to the International Trade Administration (ITA), the medical devices sector in the United States is expected to rise to US$208 billion by 2023. With the robust scope for the medical & healthcare sector, the utilization of antimicrobial coatings in medical device surfaces, bedding, clothing, protection from micro-organisms and others is rising. This, in turn, is projected to boost its growth prospects in the North American region during the forecast period.
Antimicrobial Coatings Market Drivers
Bolstering Growth of Electrical & Electronics Industry :
Antimicrobial coatings are chemical agents based on silver, copper, quaternary ammonium salts and others. These are used as surface coatings in various electronic devices. The electrical & electronics sector is rapidly growing due to growth factors such as robust demand for consumer electronic devices, soaring production base and urbanization. According to OBERLO, the total revenue of consumer electronics in the US is expected to increase by 7.5% in 2023. According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$230 million in March 2022. With the rise in electronics device production and growth scope, the utility and applications of antimicrobial coatings in consumer electronics and other electrical devices are growing. This is driving the global Antimicrobial Coatings industry.
Flourishing Growth of the Building & Construction Sector:
Antimicrobial Coatings have high demand in the building & construction sector for applicability in doors, glass surfaces and others to prevent them from micro-organisms such as microbes, germs, bacteria and others. The construction sector is growing significantly due to factors such as rising government investment in infrastructural projects, residential housing projects and rapid industrialization. According to Oxford Economics, the global construction output in 2020 accounted for US$10.7 trillion and is projected to grow by 42% to reach US$15.2 trillion between 2020 and 2030. According to the United States Census Bureau, the total construction spending in the US increased from a seasonally adjusted annual rate of US$1.62 million in May 2021 to US$1.77 million in May 2022. With the fast-paced growth scope for the building & construction sector, the demand for antimicrobial coatings in building structures for surface modification and prevention of microbes on the surface is increasing. This, in turn, is driving the Antimicrobial Coatings industry.
Antimicrobial Coatings Market Challenges
High Costs Associated and Concerns Arising From Toxicity of Nanoparticles:
Antimicrobial Coatings are costlier than other conventional coating products. This acts as a challenging factor in the antimicrobial coatings market. In addition, concerns about toxicity associated with metal particles impact growth. The toxic effects of copper and silver coatings on human health, including breathing issues and skin irritation, organ issues and others, are hampering the scope of its applicability. Due to such factors, the Antimicrobial Coatings market experiences a major slowdown.
Antimicrobial Coatings Industry Outlook
The 10 companies in the Antimicrobial Coatings Market are:
- AK Costings Inc
- Specialty Coating System Inc.
- AkzoNobel N.V.
- BASF SE
- BBJ Environmental Solutions
- Cupron Inc.
- Dow Microbial Control
- Fiber Lock Technologies
- PPG Industries Inc.,
- Microban International Ltd.
- In May 2020, PPG Industries launched the latest quick-ship program for PPG-SILVERSAN antibacterial powder coating, formulated with silver ionic technology.
- In April 2020, CIIRC-Jyothy Institute of Technology developed a polymer-based antimicrobial surface coating for textile and other industrial applications, which are scaled and commercialized by National Innovation Foundation (NIF).
- In April 2020, the Indian Institute of Technology (IIT) developed spray-based antimicrobial coatings for personal protective equipment (PPE). The applicability included face masks and others to kill bacteria and viruses.
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