Europe Antimicrobial Coatings Market is perceived to produce a revenue of more than USD 1 billion with prospering food retail and medical sectors across countries such as France, UK, Italy, and Germany.
The penetration of technology in major industry verticals is certainly projected to positively leverage antimicrobial coatings market trends in the future. Recently, Kromet International Incorporation, a Cambridge based firm manufacturing trims and metal handles, has introduced a new coating termed as Pure Product – an antimicrobial coating that has the ability to fumigate surfaces. The product makes use of advanced antimicrobial technology such as microparticles instead of nanoparticles, which has proved hazardous to the human health. Kromet’s innovation is likely to encourage other antimicrobial coatings market players to adopt similar product differentiation tactics.
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Global Market Insights, Inc., states that antimicrobial coatings industry revenue, which is slated to surpass USD 7 billion by 2024, will register a CAGR of more than 10% over the coming seven years.
According to the CDC (Centers for disease control and prevention), nearly 75% of urinary tract infections in 15% to 25% of patients are caused due to catheters that are made from materials incapable of providing any resistance against microbes or bacteria. A lot of research has been carried out over the past few years to develop an ideal urine catheter with antifouling, biocompatible, and antimicrobial features. But despite major breakthroughs taking place across the antimicrobial coatings industry, a urinary catheter capable of resisting the bacterial or microbial infection has not yet been developed. Alarming data statistics, health-related hitches, and rising healthcare expenditure associated with the infections caused due to use of urinary catheters are expected to provide a positive impetus to R&D activities pertaining to antimicrobial coatings across the urinary catheter sector, thereby propelling the growth of antimicrobial coatings market.
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Medical tourism has taken off tremendously across major geographies, India and China being almost at the sovereign position. The rise of this emerging sector is likely to provide new growth avenues for antimicrobial coatings market across Asia Pacific, which is poised to register a CAGR of 9% during the timespan from 2016 to 2024. Brazil antimicrobial coatings market is expected to influence the LATAM market, through significant product contributions across the mold remediation sector.
Rise in the rate of food infections has created a heavy demand for antimicrobial coatings across the emerging food sector, thereby outlining a new growth vector for antimicrobial coatings industry. Considering the future business scope, it would be prudent to mention that few of the key industry players such as DuPont, BASF SE, AzkoNobel N.V., and The DOW Chemical Company have made notable contributions toward antimicrobial coatings market share in 2015 through the adoption of beneficial growth strategies.
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