The global antimicrobial coatings market size is anticipated to reach USD 18.8 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 12.8% over the forecast period. Rising demand for cleaning products for protection against fungal and bacterial growth is expected to be the key factor driving the overall market.
The demand for antimicrobial coatings is expected to increase majorly in the medical devices and packaging application industry owing to the COVID-19 pandemic situation around the world. North America is expected to lead the global market due to the strong presence of some of the world’s major healthcare products manufacturers in this region.
Moreover, rising demand for implantable medical devices and increasing burden of Cardiovascular Diseases (CVDs) are expected to boost the product demand over the next eight years. Silver-based biocides are widely used in medical application owing to their excellent antimicrobial properties. Based on product, the global market is segmented into antimicrobial powder and surface modification & coatings.
Surface modification and coatings was the prominent product segment and accounted for 53.9% of the global revenue in year 2019. Antimicrobial powder coatings product segment is expected to witness the fastest CAGR from 2020 to 2027 due to the high demand for silver- and copper-based and other coatings. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, and high thermal stability.
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Mold remediation application segment is expected to witness the highest CAGR of 15.2%, in terms of revenue, over the forecast period. The cost involved in remediating a mold-infested building can be staggering, especially when the building has inferior coatings
Air conditioning and ventilation segment accounted for the maximum volume share of over 21.7% in 2019
Antimicrobial coatings help to deter the growth of micro-organisms in heating, ventilation and air conditioning systems. Ag ION coated materials inhibit the growth of different microbes
North America accounted for 43.4% of the overall revenue share in 2019 and is projected to retain its dominant position throughout the forecast period
Grand View Research has segmented the global antimicrobial coatings market on the basis of product, application, and region:
Antimicrobial Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Antimicrobial Powder Coatings
Surface Modifications and Coatings
Antimicrobial Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Sanitary Facilities and Kitchen
Air Conditioning and Ventilation Systems
Food Processing and Packaging
Antimicrobial Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
Central & South America
Middle East & Africa
List of Key Players of Antimicrobial Coatings Market
Nippon Paint Co. Ltd
PPG Industries Inc.
The Sherwin Williams Company
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