Antimicrobial Coatings Market to be Worth $12.41 Billion by 2031

Antimicrobial Coatings Market by Product (Silver, Copper, Aluminum, Organic, Polymer), Form (Liquid [Solvent, Water Borne], Powder, Aerosol, Gel), Industry (Construction, Food, Medical, Pharmaceutical, Automotive, Machinery) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Antimicrobial Coatings Market by Product (Silver, Copper, Aluminum, Organic, Polymer), Form (Liquid [Solvent, Water Borne], Powder, Aerosol, Gel), Industry (Construction, Food, Medical, Pharmaceutical, Automotive, Machinery) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the antimicrobial coatings market is projected to reach $12.41 billion by 2031, at a CAGR of 10.8% during the forecast period. The growth of this market is driven by rising applications of antimicrobial coatings to reduce healthcare-associated infections, the increase in contaminated food recalls in North America and Europe, initiatives, and funding for advancements in antimicrobial coatings, and rising demand for antimicrobial coatings in the food & beverage industry. Additionally, emerging economies, the introduction of antimicrobial coatings in the retail food marketplace, and rising space programs across the world are expected to offer significant market growth opportunities.

However, the stringent regulations related to Volatile Organic Compounds (VOCs) content and rising prices of raw materials restrain the growth of this market. Additionally, the development of antimicrobial resistance in microbes and the high cost of antimicrobial coatings pose a significant challenge to the market's growth.

Key Players:

The key players operating in the antimicrobial coatings market are Akzo Nobel N. V. (Netherlands), Lonza Group Ltd (Switzerland), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), The Sherwin-Williams Company (U.S.), DOW Chemical Company (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), Sciessent LLC (U.S.), Sika AG (Switzerland), BASF SE (Germany), Specialty Coating Systems Inc. (U.S.), Advanced NanoTech Lab (India), Novapura AG (Switzerland), Pylon Coatings Pty Ltd (Australia) and Troy Corporation (U.S.).

Antimicrobial Coatings Market: Future Outlook

The antimicrobial coatings market is segmented based on product (metal-based coatings [silver, copper, aluminum, other metals], non-metal-based coatings [organic, polymer]), form (liquid [solvent borne, water borne], powder, aerosol, gel), industry (building & construction, food & beverages, automotive, medical & life sciences, pharmaceutical, machinery & equipment, consumer goods, other industries), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on the products, the antimicrobial coatings market is segmented into metal-based coatings and non-metal-based coatings. In 2024, the metal-based coatings segment is expected to account for the larger share of the antimicrobial coatings market. The large market share of this segment is attributed to the increasing healthcare-associated infections, and growing adoption of silver-based coating by electronic device manufacturers. Further, players in the antimicrobial coatings market are focusing on enhancing their offerings by launching new products. For instance, in May 2023, Novolipetsk Steel (Russia) launched rolled steel with an antibacterial coating. The antibacterial coating shields the metal against harmful microorganisms and improves the interior finishing of various facilities, such as in the healthcare and food industries.

Based on the forms, the antimicrobial coatings market is segmented into liquid, powder, aerosol, and gel. In 2024, the liquid segment is expected to account for the larger share of the antimicrobial coatings market. Liquid coatings are used in industries such as oil and gas, agriculture, heavy equipment, building and construction, and healthcare sectors. Liquid coatings are preferred over other coatings forms for decorative and smooth finishing applications. Moreover, liquid coatings are applicable in automobiles, furniture, concrete, wood, and poorly ventilated spaces, where they provide better surface properties such as high gloss, anti-sealing properties, and rub resistance. Due to these advantages, the adoption of liquid coating over other forms has increased across all industries, contributing to the large market share of this segment.

Based on the industries, the antimicrobial coatings market is segmented into building & construction, food & beverages, automotive, medical & life sciences, pharmaceutical, machinery & equipment, consumer goods, and other industries. In 2024, the building & construction segment is expected to account for the larger share of the antimicrobial coatings market. Antimicrobial coatings offer long-lasting and effective protection against microbial growth in buildings and construction, they remain effective for long periods, irrespective of regular cleaning and wear. This makes them excellent for use in buildings that require ongoing protection without the need for regular reapplication, hence contributing to the large market share of this segment.

Geographic Review:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the antimicrobial coatings market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market shareholder in North America. North America’s major market share is attributed to the highly developed healthcare infrastructure and the presence of major market players such as PPG Industries Inc. (U.S.) Axalta Coating Systems (U.S.).

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Key questions answered in the report:

Which are the high-growth market segments in terms of product, form, industry, and region/country?
What was the historical market size for antimicrobial coatings across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, and opportunities in the global antimicrobial coatings market?
Who are the major players in the global antimicrobial coatings market?
What is the competitive landscape like, and who are the market leaders in the global antimicrobial coatings market?
What are the recent developments in the antimicrobial coatings market?
What strategies are adopted by the major players in the antimicrobial coatings market?
What are the geographical trends and high-growth regions/countries?

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