Antimicrobial Coatings Market size is estimated to be USD 4.2 billion in 2022 and is projected to reach USD 7.0 billion by 2027, at a CAGR of 10.8 %, as per the new published study by MarketsandMarkets™. Growing expenditure on healthcare infrastructure, increase in government initiative to prevent the spread of COVID-19, hospital-acquired infections (HAIs) and increasing demand for medical devices, surgical instruments, and other healthcare equipment across the globe are fueling the growth of the antimicrobial coatings market.
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By type, Silver accounted for the largest share in 2021
Silver-based antimicrobial coatings are widely used in various applications because of there have high efficacy against viruses, bacteria, and other eukaryotic microorganisms. Silver-based antimicrobial coatings have proven strong inhibitory properties against bacteria and viruses, such as E.coli, H1N1 influenza, and Listeria. The efficacy of silver-based antimicrobial coatings depends on the size and shape of the silver ion used during manufacturing of coatings. It is directly related to the rate of ions released on the substrate surface. Nanoparticles with a uniform crystal structure are mostly used for manufacturing antimicrobial coatings. Once silver-based antimicrobial coatings are applied to the substrate, silver coatings release silver ions in a controlled manner continuously, which inhibits microbes or pathogens growth on the surface.
By End Use Industry, Antimicrobial coatings Market, Medical & Healthcare segment accounted for the largest share in 2021
In the medical & healthcare sector, the growing concern about hospital-acquired infections (HAIs) and their related impact on human health is driving the adoption of antimicrobial coatings. Similarly to avoid the spread and growth of the COVID-19 virus and other bacteria on the surfaces, several temporary built and existing healthcare facilities are using antimicrobial coatings as a protective layer on various human contact surfaces such as door handles, trails, beds and healthcare instruments. Antimicrobial coatings have thus emerged as an effective solution in the medical & healthcare sector to fight COVID-19.
North America is accounted for the largest share of Antimicrobial coatings Market in 2021
North America is also estimated to be the largest market for Antimicrobial coatings Market during the forecast period. The growth of the North American antimicrobial coatings market is driven by the rising demand for antimicrobial coatings from the medical & healthcare sector to inhibit the growth of bacteria and microbes causing HAIs and COVID19. Also, due to stringent rules and regulations regarding indoor air quality, HVAC system producers are using antimicrobial coatings on surfaces to maintain the required air quality by inhibiting the growth of mold and bacteria.
Antimicrobial Coatings Market comprises major players such as AkzoNobel N.V.(Netherlands), Axalta Coating Systems Ltd. (US), The Sherwin-Williams Company (US), BASF (Germany), PPG Industries Inc. (US), Nippon Paint Holdings Co. Ltd. (Japan), RPM International Inc. (US), Koninklijke DSM N.V.(Netherlands), Sika AG (Switzerland), Lanxess AG (Germany). Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Antimicrobial Coatings Market.
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