Meticulous Research®– a leading global market research company published a research report titled “Antiviral & Antimicrobial Coatings Market by Type (Antimicrobial, Antiviral), Material (Copper, Silver, Aluminium), Form (Powder, Aerosol), Application (Healthcare, Building & Construction, Automotive, Packaging), and Geography - Forecast to 2028”. According to this latest publication from Meticulous Research®, the Antiviral & Antimicrobial Coatings Market is expected to grow at a CAGR of 11.7% from an estimated $3.93 billion in 2021 to $8.53 billion in 2028. The increasing incidence of healthcare-associated infections, rising number of food product recalls due to microbial contamination, and government initiatives & funding for the development of antimicrobial coatings are some of the major factors driving the growth of the market. The developments in the emerging economies are further creating opportunities for market growth.
Antiviral & Antimicrobial Coatings Market: Future Outlook
The global antiviral & antimicrobial coatings market study presents, historical market data in terms of values (2018, 2019 and 2020), estimated current data (2021), and forecasts it for 2028 –Type (Antimicrobial and Antiviral), Material (Copper, Silver, and Others), Form (Powder and Aerosol), Application (Healthcare, Building & Construction, Packaging, and Others), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on type, the antiviral segment is estimated to grow at the highest CAGR during the forecast period. Increasing demand for antiviral coatings amid the COVID-19 pandemic and growing measures to prevent further epidemics are creating opportunities for market growth.
Based on material, the silver segment is estimated to account for the largest share of the market in 2021. The growing usage of silver coatings to prevent pathogens in the food, textile, and medical equipment industries and hospitals is attributed to the largest market share.
Based on form, the liquid antiviral & antimicrobial coatings segment is estimated to account for the largest share of the market in 2021. Liquid antimicrobial coatings have applications in agriculture, oil and gas, equipment and machinery, building and construction, and healthcare. The smooth liquid metallic finishing is one of the key drivers for adopting liquid-based antiviral & antimicrobial coatings. Based on type, the liquid coatings market is segmented into waterborne and solvent-borne coatings. The choice of the antimicrobial coating form is majorly based on the specifications and finish required by the end-users.
Based on application, the healthcare segment is estimated to account for the largest market share in 2021. The application of antiviral & antimicrobial coatings in healthcare are included in pharmaceuticals processing & manufacturing lines, medical devices, and hospital beds and furniture. Surging incidence of healthcare-acquired infections and infectious diseases are driving the market growth.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa. North America is estimated to command the largest share of the global antiviral & antimicrobial coatings market in 2021, followed by Europe and Asia-Pacific. The U.S. is estimated to be the largest shareholding market in North America in 2021. The growing packaged food & medical devices industry, cosmetic product recalls due to microbial contamination, increasing burden of infectious diseases, and the developed healthcare infrastructure are driving the market growth. However, the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period.
The key players operating in the global antiviral & antimicrobial coatings market are Akzo Nobel N.V. (Netherlands), Lonza Group Ltd (Switzerland), PPG Industries Inc (U.S.), Axalta Coating System (U.S.), The Sherwin-Williams Company (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), RPM International Inc. (U.S.), Sciessent LLC (U.S.), Sika AG (Switzerland), BASF SE (Germany), Jotun Group (Norway), DuPont De Nemours, Inc. (U.S.), and NanoGraphene Inc (U.S.).
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