CHICAGO, May 4, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global antimicrobial coatings market report. The antimicrobial coatings market is expected to grow at a CAGR of over 6% during the period 2020−2026.
Key Highlights Offered in the Report:
The major factors driving the antimicrobial coating market is the growing awareness about hygiene, health safety, government stringent regulations to control HAIs, and increasing demand from industries such as construction, textile, HVAC, and transit.
Silver ions and its nanoparticles is the most widely used material in antimicrobial coating. Silver material holds over 54% of the market share.
Due to the extra antimicrobial properties, ability to kill the microbes within 2 hours of contact and being available at cheaper rates, copper material is gaining wider acceptance in the healthcare industry.
North America is the leading market for antimicrobial coating and is expected to grow at a CAGR of over 6% during 2020-2026.
In North America, owing to the increasing case of HAIs, geriatric and chronic disease patients have stimulated the demand for antimicrobial coating in the healthcare industry. Another driver includes stringent government regulation pertaining to the HVAC and indoor air quality.
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by material type, end-user, and geography
Competitive Landscape – 5 key vendors and 25 other vendors
The global silver material market expects to reach over USD 3 billion by 2026. Silver metals are heavily used in various end-user industries, which contribute over 54% of the market share by value. They are used in the antimicrobial coating due to the broad continuum of antibacterial, antifungal, antiviral properties, less toxicity, high efficiency, and long-lasting effect.
The healthcare antimicrobial coatings market is expected to reach over USD 3 billion by 2026, growing at a CAGR of over 7%. The segment accounted for over 54% of the market share in 2020. The healthcare industry is one of the largest end-users. The increasing awareness of hygiene and health safety, growing HAIs cases, and steady increase in chronic orders are stimulating the demand in the healthcare sector.
The copper-based antimicrobial coating accounted for over 15% market share in 2020. The demand for copper-based coatings is likely to increase during the forecast period due to the growing awareness among manufacturers regarding the material's potent antimicrobial properties and availability at a low cost compared to other metals.
Antimicrobial Coatings Market by Material Type
Antimicrobial Coatings Market by End-user Industry
Antimicrobial Coatings Market – Dynamics
Despite being in the era of antibiotics, infections are a major problem. However, microorganisms play a vital role in balancing the ecosystem. However, not all microorganisms are safe and can cause death, while some pathogens even contribute to severe health issues. From food contact surfaces, doors, sofa, furniture, washing machines, ACs, hospital equipment, fabric to mobile touch screens, every surface is prone to the growth of microorganisms. Hence, to protect mankind from being infected, antimicrobial coatings are applied to the materials. Natural antimicrobials preserve food from spoilage, such as plants that contain edible oil that fight against pathogens but that cannot expand the shelf life of the food. Antimicrobial coating infection control systems are advances that protect humans from being exposed to diseases.
Key Drivers and Trends fueling Market Growth:
Rising Demand from Healthcare Sector
Accelerating Demand from Food Industry
Innovation in Existing and New Product
High Demand for Controlling HAIs
Antimicrobial Coatings Market – Geography
In 2019, North America was the largest market for antimicrobial coating globally. The market for antimicrobial coating is driven by the growth in healthcare, automotive, construction industries and strict regulations relating to indoor air quality. North America has a highly regulated Environment Protection Agency (EPA) that plays a key role in monitoring and commercializing antimicrobial coatings. In North America, the US is the biggest market for antimicrobial coating, followed by Canada. Owing to the increasing demand from the healthcare, construction, and food and packaging industry, the demand for antimicrobial coatings in North America is expected to rise during the forecast period.
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