Antimicrobial Coatings Market Overview
Antimicrobial coatings are fast growing technique and it is the main component of the global mitigation policy of bacterial pathogens. To design surfaces by antimicrobial properties several options are available. Antimicrobial coatings create with the plan to shield the surfaces were it applied. Surfaces of materials are extremely prone to contamination by bacteria and other microorganisms. Antimicrobial coatings consist of antimicrobial agents which inhibit the extension of microorganisms when applied to the surface of materials. They have been widely used in healthcare in order to prevent hospital-acquired infections which are fatal.
They are used in food and beverages to prevent food poisoning and in cosmetics to limit product degradation. Apart from these, they can be used on surfaces which are usually touched by people to prevent contamination. Antimicrobial Coatings Market is expanding fast without the realization of many of its competitors. Rapid advances in biotechnology and material sciences, the improvement in research activities on environmental microbiology and growing adoption in the healthcare sector are the significant factors driving the market growth. The growing number of hospital-acquired infections and economic advantages by using coatings in the long term are also anticipated to drive the market. Still, availability of alternate antimicrobial products and lack of awareness regarding the coatings are hindering the market growth.
Antimicrobial Coatings Market Report (2018-2023)
The global Antimicrobial Coatings Market was worth USD 2.99 billion in 2018 and is projected to grow at a CAGR of 12.1%, to reach USD 5.29 billion by 2023.
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Antimicrobial Coatings Market Segmentation
The Antimicrobial Coatings market is divided by type, application, and region. Based on the type, the market is classified into Copper, Silver, Polymer, and Others. Silver coatings segment is the highest market segment as silver is able to effectively counter several types of microorganisms. Polymers segment is the fastest rising segment due to the advances in material sciences to produce antimicrobial polymers. By Application, the market is segmented into Healthcare, Building, and Construction, Indoor Home Appliances, Mold Remediation, Food and Beverages, Textiles, Cosmetics, and Others. Indoor home appliances segment lead the antimicrobial coatings market because of the increasing demand in residential and institutional buildings. Healthcare segment is anticipated to be the fastest expanding segment due to the increasing initiatives to keep hospitals and clinics free of germs and to prevent hospital-acquired infections.
On the basis of region, the Antimicrobial Coatings market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America leads the antimicrobial coatings market due to the huge adoption rate of antimicrobial coatings in the healthcare sector as this region witness high mortality due to hospital-acquired infections. The Asia Pacific is expected to be the fastest growing market because of the increasing applications in buildings and construction, growing health awareness and increasing healthcare expenditure.
Some of the major companies operating in the current Market are AkzoNobel, Nippon Paint Company, Dow Chemical Company, Damond Vogel, Sherwin Williams, BASF SE, Axalta Coating Systems, RPM International, Lonza Group, Royal DSM
The scope of the report:
1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
2. The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
5. Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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