Selbyville, Delaware, According to the research report titled ‘Global Antimicrobial Coatings Market Size study with COVID-19 Impact, by Type, by Application and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, Global Antimicrobial Coatings Market to reach USD 6.7 billion by 2027 and accounted for USD 3 billion in 2019 and is anticipated to witness a CAGR of 10.7% during 2020-2027.
Incorporation in HVAC systems and applications in food & beverage industry are fueling the growth of global antimicrobial coatings market. Also, high prevalence of COVID-19 is fueling the demand for antimicrobial coatings in the medical & healthcare sector in order to prevent the spread of Healthcare-Associated Infections (HAIs), contributing to the market growth.
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For the unversed, antimicrobial coatings protect the surfaces from several micro-organisms such as parasites, bacteria, fungi and germs. They are usually used on door handles, walls, counters, vents, and can be sprayed onto textiles, gloves, masks, and carpets.
Launch of new products and services along with adoption of strategies by leading companies is slated to create opportunities for the global antimicrobial coatings market growth. Citing an instance, The Sherwin-Williams Company introduced powder coating series named Powdura 4000 Anodite, which offers anodized metal surface look and gives an ultra-matte, smooth, and powder-coated finish, and are available as a 12-color preferred collection.
Major players operating in global antimicrobial coatings industry sphere include Nippon Paint Holdings Co. Ltd., The Sherwin-Williams Company, Koninklijke DSM N.V., RPM International, Inc., Diamond Vogel Paint Company, Akzonobel N.V., PPG Industries, Inc., DuPont de Nemours, Inc., BASF SE, and Axalta Coating Systems Ltd.
However, high cost of product, lack of skilled labor, and strict government regulations are the major factors hampering the global antimicrobial coatings industry growth.
In terms of application scope, the industry is bifurcated into HVAC system, medical & healthcare, transportation, protective clothing, building & construction, food & beverage, and others. Considering the type, the market is divided into titanium dioxide, silver, copper, and others.
From a regional frame of reference, worldwide antimicrobial coatings market is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. North America market is projected to record a significant growth during the study period, mainly due to constant investments for the development of the healthcare sector in the region. Whereas, Asia-Pacific market size is also anticipated to expand rapidly over 2020-2027.
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