The antimicrobial coatings market is anticipated to garner USD 4, 520 million by 2020. Grand View Research, Inc. identifies demand for healthcare device coatings to remain the most significant market propeller for the forecast period (2014 to 2020). Moreover, escalating penetration of superior internal air products, primarily in the United States, will favor the market.
Antimicrobial coatings find applications in ‘surface protection.’ They protect surfaces from microbes like bacteria, fungi, parasites, germs, etc. They were basically launched to prevent the growth of microbes and dirt on surfaces they were used on. But human health apprehensions concerning harmful microbes have assisted antimicrobial applications to cover both surfaces and humans.
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Demand for HVAC systems should also boost market demand. Conversely, health apprehensions in regards to silver usage in antimicrobial coatings and governmental interference in Europe and U.S. are projected to hamper the antimicrobial coatings market. Vast unused potential, particularly in Latin America and Asia Pacific, would offer numerous prospects to market players.
The global market is trifurcated into products, applications, and geographies. Product segments comprise surface modification & coatings and powder coatings. The former led the market in 2013, accounting for more than 50 percent demand. It is also split on the basis of listeria, E.Coli, pseudomonas, and others. Powder coatings are likely to remain the most swiftly growing product during the forecast period.
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Applications in the antimicrobial coatings market consist of mold remediation, indoor air quality, construction, medical, textiles, and others. Indoor air quality dominated the market and contributed over 25 volumes in 2013. Apart from being the biggest, it may also be the fastest expanding application in the six years ahead. Indoor air quality could record around 10.4 percent CAGR in the future.
Construction application is predicted to register nearly 11.5 percent CAGR during 2014 to 2020. Geographical segments encompass Europe, North America, Asia Pacific, and rest of the world. North America led the market in 2013. It contributed over 35 percent of the overall demand. Furthermore, this region would grow most rapidly in the six years ahead. Escalating medical expenses and better life styles in the U.S. is its key propeller.
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The worldwide antimicrobial coatings market is oligopolistic and moderately concentrated. Its top four firms captured little below than 50 percent shares in 2013.
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About Grand View Research
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