According to our latest market study on “Antimicrobial Coatings Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Raw Material (Silver, Copper, Titanium Dioxide, and Others) and Application (Medical, HVAC, Mold Remediation, Building and Construction, Foods and Beverages, and Others),” the market was valued at US$ 2,918.30 million in 2019 and is projected to reach US$ 7,514.56 million by 2028; it is expected to grow at a CAGR of 11.2% from 2020 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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Cupron; Alistagen Corporation; AK Coatings Inc.; Fiberlock; Microban International Ltd.; PPG Industries Inc.; Akzo Nobel N.V.; DuPont de Nemours, Inc.; Nano-Care Deutschland AG; and Axalta Coating Systems are among the well-established players operating in the global antimicrobial coatings market.
Impact of COVID-19 Pandemic on Antimicrobial Coatings Market
The COVID-19 pandemic has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are adversely affecting the business collaborations and partnerships opportunities. All these factors are hindering the chemical and materials industry and thus act as restraining factors for the growth of various markets related to this industry. The market for antimicrobial coating is impacted by the pandemic due to shortfall in production along with limited transportation facilities.
Antimicrobial coatings are commonly used on the surface of doors, counters, door handles, and other high-touch areas such as mechanical and HVAC vents. They are also sprayed on gloves, masks, carpeting, and textiles on occasion. Paint manufacturers use antimicrobial coatings in their primer products and wall paint to limit pathogen development in facilities. Factors such as the increasing health care associated infections and rising use of antimicrobial coatings in healthcare setting for sterilization of medical devices propel the demand for antimicrobial coatings. The healthcare industry is expected to witness monumental transformation owing to the factors such as rapidly growing urbanization, rising instance of infectious diseases, and shifting lifestyle of consumers.
Healthcare-associated infections (HCAI) or nosocomial infections are the infections associated with the equipment and devices such as catheters or ventilators used during medical procedures. Over the period, there has been rising prevalence of HCAI diseases, which has become a serious concern among various economies. For instance, according to National Center for Biotechnology Information, it has been estimated that almost 2 million patients in the US suffer from HCAI annually, out of which ~98,000 people die. Likewise, in the EU, the European Center for Disease Prevention and Control (ECDC) registers almost 4.1 million acute care patients acquiring HCAI every year with ~37,000 deaths. Further, as per the World Health Organization (WHO), almost 7% and 10% of patients from developed and developing economies respectively have instance of healthcare associated infection during medical treatment. HCAIs poses major health challenge in healthcare units and the conditions arising from HCAIs is the sixth leading cause of death in western nations and even higher in other developing economies.
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The report includes the segmentation of the global Antimicrobial Coatings market as follows:
Antimicrobial Coatings Market, by Raw Material
- Titanium Dioxide
Antimicrobial Coatings Market, by Application
- Mold Remediation
- Building and Construction
- Foods and Beverages
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