Growing demand in healthcare and medical sector is the key factor expected to boost “Antimicrobial coatings” demand over the next five years. In addition, increasing consumer disposable income resulted high spending on healthy living. This is expected to have positive impact on the market growth over the forecast period. Increasing demand from other end-use industries such as textiles, foods & beverages, building and construction is anticipated boost antimicrobial coatings demand in near future. Huge untapped potential market in emerging regions of Asia Pacific and Latin America is anticipated to open new opportunities for industry participants in near future. Antimicrobial coatings are extensively used in indoor air quality and HVAC.
Increasing demand for these end-use application segments is likely to push antimicrobial coatings demand over the foreseeable period. However, use of silver in antimicrobial coatings is expected to hamper the market growth in US and Europe on account of stringent regulations from EPA and EU commission.
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Antimicrobial powder coatings and surface modifications & coatings are the two product types of this market. Surface modification & coatings is the major product segment for antimicrobial coatings market in 2013. These coatings are further segmented based on microbes such as E. coil, listeria and pseudomonas among others. Antimicrobial powder coating is the second major market for antimicrobial coatings. Antimicrobial powder coatings market is anticipated to witness fastest growth over the next five years on account of increasing demand from end-use industries. Offering silver, zinc and copper coated antimicrobial coatings to the end customers is the other key factor expected to drive the market in near future.
Indoor air quality was the largest application segment for antimicrobial coatings market in 2013. Besides being the largest market, indoor air quality has been the fastest growing market for antimicrobial coatings over the past few years and trend is expected to continue over the forecast period. Increasing demand from construction sector coupled with rapid growth of construction projects in emerging regions such as India and China is anticipated to have positive light on antimicrobial coatings market growth over the forecast period. Other end-use applications including heating, ventilation, bathroom fittings, textiles, air conditioning, and other medical and electrical devices are expected to fuel the market growth over the projected period.
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North America was the largest regional market for antimicrobial coatings in 2013 followed by Europe. Owing to high living standards in U.S.A., antimicrobial coatings market has been witnessing strong growth over the past few years and trend is expected to continue over the forecast period. Asia Pacific market is anticipated to witness lucrative growth over the next five years on account of rapid growth in end-use industries such as medical, construction and foods industry in this region. Europe market has been witnessing sluggish growth over the past five years owing to stringent regulations from EU commission to reduce the usage of silver in antimicrobial powder coatings. Latin America is anticipated to open new opportunities for market players to invest in this region.
Major players in antimicrobial coatings market include AkzoNobel NV, The Sherwin-Williams Company, Diamond Vogel Corp, BASF SE, E. I. du Pont de Nemours and Company, PPG Industries and The Dow Chemical Company among many others.
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