The Antimicrobial Coating Market size is projected to reach US$ 8.82 billion by 2031 from US$ 3.78 billion in 2023. The market is expected to register a CAGR of 11.2% in 2023–2031. The rising adoption of bio-based antimicrobial coating material is likely to remain a key antimicrobial coating market trend.
Antimicrobial Coating Market Analysis
The demand for antimicrobial coatings has been rising in healthcare settings for sterilization of medical devices. However, the use of antimicrobial coatings is not limited to the medical industry and has been expanding across diversified end-use industries such as indoor air/HVAC applications along with building and construction, food & beverage, mold remediation, and packaging. Thus, a wide range of applications of antimicrobial coatings aids in propelling the market growth across the globe.
Antimicrobial Coating Market Overview
Antimicrobial coatings are coatings that are treated with an antimicrobial agent and applied to a surface to prevent the growth of bacteria, mold, mildew, or algae. The most common actives used to manufacture antimicrobial coatings include various isothiazolinone treatments, silver, zinc pyrithione, and quaternary ammonium compounds. Antimicrobial coatings add value and functionality to finished products by reducing odors, and staining, and by extending product life. An antimicrobial coating offers proven surface protection by controlling the growth of unwanted bacteria and fungi. The antimicrobial coatings are used for various applications such as housewares, commercial, industrial, outdoor, building products, and healthcare these factors are expected to propel the antimicrobial coatings market growth.
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Antimicrobial Coating Market: Strategic Insights
Market Size Value in US$ 2,918.30 Million in 2019 Market Size Value by US$ 7,514.56 Million by 2028 Growth rate CAGR of 11.2% from 2020-2028 Forecast Period 2020-2028 Base Year 2020
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Antimicrobial Coating Market: Strategic Insights
| Market Size Value in | US$ 2,918.30 Million in 2019 |
| Market Size Value by | US$ 7,514.56 Million by 2028 |
| Growth rate | CAGR of 11.2% from 2020-2028 |
| Forecast Period | 2020-2028 |
| Base Year | 2020 |
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Antimicrobial Coating Market Drivers and Opportunities
Wide Application Scope to Favor Market
For building and construction purpose, the antimicrobial coatings are used to cover the walls and surfaces of manufacturing capabilities, factories, and stations to keep them away from the propagation of microbes. Moreover, these coatings find applications in residential and commercial facilities, indoor handles, flooring and roofing systems, workstations, and other such places. In food & beverage industry, the antimicrobial edible films and coatings protect foodstuff against spoilage and help minimize the risk of pathogen propagation on the food surface. Additionally, these coatings are used to wrap fish and meat products as well as fruits and vegetables.
Rising Instances of Hospital-Acquired Infections (HAIs) – An Opportunity in Antimicrobial Coating Market
Healthcare-associated infections (HCAI) or nosocomial infections are the infections associated with the equipment and devices, such as catheters or ventilators, used during medical procedures. Over the period, there has been a rising prevalence of HCAI diseases, which has become a serious concern among various economies. For instance, according to the National Center for Biotechnology Information, it has been estimated that almost 2 million patients in the US suffer from HCAI annually, out of which ~98,000 people die. Therefore, in 2016, AMiCI, an association representing universities and institutes along with organizations and manufacturers, was formed in Europe to increase awareness among people and organizations about the research and application of antimicrobial coatings. Antimicrobial coatings are the layers applied on medical equipment that are exposed to sensitive bodily fluids such as blood and urine. The rising focus on the impact of HCAI through several programs along with the active participation of hospitals and manufacturers to generate the significance of the antimicrobial coatings is expected to stimulate the growth of the market.
Antimicrobial Coating Market Report Segmentation Analysis
Key segments that contributed to the derivation of the antimicrobial coating market analysis are product type, and application.
- Based on raw material, the antimicrobial coating market is divided into silver, copper, titanium dioxide, and others. Silver segment held a larger market share in 2023.
- In terms of application, the market is categorized into Medical, HVAC, mold remediation, building and construction, foods and beverages, and others. The medical segment dominated the market in 2023.
Antimicrobial Coating Market Share Analysis by Geography
The geographic scope of the antimicrobial coating market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The antimicrobial coating market in Asia Pacific is significantly. The antimicrobial coatings industry in the region has experienced a considerable shift over the years. The massive growth is due to the rising healthcare industry in emerging economies, such as India and China. The growth of the major end-use industries, such as healthcare, construction, and food processing and packaging, is driving the market. The robust manufacturing base of the packaging products industry in countries, as well as increased sales of eCommerce and packaged food products, are expected to augment regional market growth. Furthermore, favorable policies implemented by the government of India, such as Foreign Direct Investment (FDI) and Make in India, are expected to create sufficient growth opportunities for the food processing and healthcare industries, which, in turn, is expected to increase the consumption of antimicrobial coatings in the region.
Antimicrobial Coating Market Report Scope
Antimicrobial Coating Market News and Recent Developments
The antimicrobial coating market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:
- In March 2023, AkzoNobel partnered with BioCote to expand their Interpon brand antimicrobial powder coatings. This can be used on a variety of internal surfaces, such as window frames, ceiling tiles, metal office partitions, metal doors, and elevator doors, thus expanding the company's product portfolio (Source: AkzoNobel, Press Release)
- In March 2022, PPG industries Inc. announced to open the R & D center in Milan, Italy. This research & development centre will develop innovative technologies for powder coating. (Source: PPG industries Inc, Newsletter)
Antimicrobial Coating Market Report Coverage and Deliverables
The “Antimicrobial Coating Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Raw Material and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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