Antimicrobial Coatings Market Size, Share & Trends Report

Antimicrobial Coatings Market Size, Share & Trends Analysis Report By Product (Antimicrobial Powder Coatings, Surface Modifications & Coatings), By Application (Construction, Medical Devices), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-098-9
  • Number of Pages: 97
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the antimicrobial coatings market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for antimicrobial coatings market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of antimicrobial coatings market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Antimicrobial Coatings Market Categorization:

The antimicrobial coatings market was categorized into four segments, namely product (Antimicrobial Powder Coatings, Surface Modifications & Coatings), application (Sanitary Facilities And Kitchen, Air Conditioning And Ventilation Systems, Air Conditioning And Ventilation Systems, Food Processing And Packaging, Antimicrobial Textile, Mold RemediationConstruction, Medical Devices), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The antimicrobial coatings market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The antimicrobial coatings market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into six countries, namely, the U.S.; UK; Germany; France; China; India

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Antimicrobial coatings market companies & financials:

The antimicrobial coatings market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • AkzoNobel N.V. is involved in manufacturing and marketing paints & performance coatings. It operates through three business segments including specialty chemicals, performance coatings, and decorative paints. The company offers key products such as functional chemicals, industrial chemicals, pulp & performance chemicals, powder coatings, and automotive & aerospace coatings. It caters its services to numerous industries including aerospace, automotive, chemicals, household appliances, safety, furniture & flooring, marine, mining, oil & gas, packaging, and energy. The company operates across the globe and has an operational presence in over 150 countries.

  • AK Steele Corporation is a producer of stainless & electrical steel products, flat-rolled carbon, and carbon & stainless tabular products. It caters to the automotive industry, the electrical power generation & distribution market, infrastructure & manufacturing, cutlery & cookware, heating, ventilation, air conditioning, and industrial motors. The product portfolio of the company includes products of carbon steel, stainless steel, electrical steels, new steel grades, mechanical steel tubes, antimicrobial steel, and precision stamping. Carbon steel includes hot-rolled steel, cold-rolled steel, electro-galvanized steel, and enameled carbon steel. Stainless steel includes steel grades such as ferritic, martensitic, austenitic, precipitation handling, and duplex alloy. The company provides antimicrobial steel combined with an antimicrobial additive provided by Agion Technologies. It operates in 56 countries.

  • Diamond Vogel provides coatings including architectural, aerosol, automotive, industrial, industrial wood, and traffic. It provides coating technologies including solvent, liquid, powder, water, urethane, epoxy, and opaque. Architectural coatings provide coatings for interior & exterior purposes; automotive coatings provide intermix acrylic polyester urethane coatings; industrial wood coatings offer waterborne, conversion varnish, polyurethane, and nitrocellulose; and traffic coatings provide waterborne, solvent-borne, and specialty coatings. The company operates 7 manufacturing facilities & over 80 service centers.

  • DuPont is engaged in the manufacturing of high-performance materials, synthetic fibers, electronics, and specialty chemicals. It operates through four business segments, namely electronics & imaging, transportation & industrial, nutrition & biosciences, and safety & construction. Its product line consists of various products including adhesives, advanced printing solutions, specialty coatings, animal nutrition, biomaterials, construction materials, medical devices & materials, industrial films, and industrial enzymes & bioactives. Axalta Coating Systems caters its plastic products to various end-use industries including apparel & textiles, automotive, building & construction, electronics, and food & beverage. It has a presence in over 70 countries across North America, Asia Pacific, Europe & Middle East, South America, and Africa.

  • The company caters to industries including light vehicle OEMs, commercial vehicles, vehicle refinish applications, and electrical system component manufacturers. Liquid coatings include primers, pre-coats, base coats, clear coats, and other automotive interior coatings.

  • Nippon Paint Holdings Co., Ltd., founded in 1881 and headquartered in Osaka, Japan, is a paint product manufacturing company. The company has two business domains, namely the paint business and the fine chemical business. The paint business provides trade-use paints, automotive coatings, industrial coatings, and SSL marine coatings, whereas the fine chemical business provides surface treatments, UVcurable coating materials, and auto-finish paints. Automotive coatings include electrodeposition paint (E-coat), primer, and basecoat or clearcoat for both exterior & interior purposes; trade use paints include perfect series & anti-flaking concrete coating systems; industrial coatings include general industrial coatings, coil coatings, ceramic material coatings, and functional coatings.

  • PPG Industries is engaged in manufacturing and supplying paints, coatings, chemicals, and specialty materials. It operates its business through two segments, namely performance coatings and industrial coatings. The company caters its products to end-use industries such as aerospace, automotive, marine, construction, packaging, petrochemicals, consumer goods, and industrial manufacturing. The company has about 156 manufacturing facilities spread across North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa, along with research & development headquarters located in Allison Park, Pennsylvania, U.S. It manufactures architectural coatings in its 16 manufacturing facilities located in the U.S., Canada, Australia, and China.

  • RPM International Inc. operates through four reportable segments, namely consumer, construction products, performance coatings, and specialty products. Construction products segment offers construction adhesives and sealants, coatings and chemicals, concrete admixture and repair products, roofing systems, insulated cladding, building envelope solutions, waterproofing solutions, and flooring systems under the brands such as Dryvit Tremco, Euclid Chemical, and Flowcrete. The company owns 170 subsidiaries that are engaged in manufacturing and marketing high-performance coatings, specialty chemicals, and sealants. It caters its products to various end-use industries such as construction, industrial manufacturing, chemicals, paints & coatings, furniture, consumer goods, and personal care. The company has 156 manufacturing facilities in 26 countries and operates in 170 countries across the globe.

  • DSM is engaged in the manufacturing of plastics, paints & coatings, specialty food ingredients, and biomedical materials for end-use industries such as automotive & transportation, construction, food & beverage, electrical & electronics, personal care, and packaging. It operates through four business segments, namely nutrition, materials, innovation centers, and corporate activities.

  • The Sherwin-Williams Company is engaged in the manufacture and distribution of paints, stains, and coatings for professionals as well as industrial, commercial, retail, and marine industries. The company has categorized its business into three segments, namely the Americas Group, Consumer Brands Group, and Performance Coatings Group. It markets its products under the brand names Sherwin-Williams, Dutch Boy, Valspar, Krylon, Cabot, Minwax, and Thompson’s Waterseal. It serves various end-use industries such as automotive, construction, packaging, aerospace, marine, electronics, furniture, and industrial manufacturing. The company has about 160 operational facilities in North America, Central & South America, Europe, Asia Pacific, and the Middle East & Africa.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Antimicrobial Coatings Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Antimicrobial Coatings Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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