Report Ocean has recently published a research study on the global antimicrobial powder coatings market. The report, titled“Global Antimicrobial Powder Coatings Market Size study, by Additive Type (Silver, Zinc and Copper & others), by End-Use Industry (Medical & Healthcare, HVAC, Appliances, Food Equipment, General Industry. Transportation, Fitness Equipment, Steel Furniture and Others) and Regional Forecasts 2020-2027,” offers a detailed assessment of this market, including individual analyses of each of its segments.
The global antimicrobial powder coatings market reached an overall valuation of US$1.3 bn in 2019. Researchers anticipate this market to rise at a CAGR of more than 12.0% over the forecast period of 2020-2027.
Antimicrobial powder coatings find considerable application as a measure to prevent infestation of bacteria and fungi in a number of industries, such as the medical and healthcare, HVAC, transportation, appliances, food equipment, fitness equipment, and furniture. The increasing demand for HVAC systems, rapid rise in the medical device coatings industry, and the augmenting awareness among consumers pertaining to maintaining the hygiene of food and beverages are boosting the growth of the worldwide antimicrobial powder coatings market. The increasing demand for consumer appliances, such as refrigerators, washing machines, and air conditioners are also adding to the markets rise. However, high cost of powder coatings in comparison to other type of coatings and stringent governmental regulations regarding their usage may hamper the market over the next few years.
Prominent market players are constantly focusing on product innovation and launching new products. In the wake of Covid 19, many market participants have begun R&D activities in order to remain ahead of their competitors. Some of them have even rolled out new products that are claimed to be effective in eliminating Coronavirus. For instance, Berger Paints introduced an antimicrobial powder coating that restricts the spread of infection.
The research report also offers a geographical assessment of the global market for antimicrobial powder coatings. As per the study, the global market reports its presence across North America, Europe, Latin America, Asia Pacific, and the Rest of the World. Europe has established itself as the key regional market for antimicrobial powder coatings across the world. This market is further anticipated to retain its leadership over the next few years. The rising uptake of new technology, increasing demand for these coatings in the medical and healthcare industry, and the augmenting awareness pertaining to indoor air quality and the safety and hygiene related to food and beverages are propelling the Europe market for antimicrobial powder coatings. Another regional market, which is likely to report a considerable progress, globally, during the forecast period, is Asia Pacific. The presence of ample untapped opportunities in Asian economies is expected to support Asia Pacific antimicrobial powder coatings market in the near future.
Impact of Covid 19 on Antimicrobial Coatings Market
The global antimicrobial coatings market is one of the few markets, which have influenced positively by the Coronavirus pandemic. The demand for antimicrobial powder coatings has witnessed a high rise due to this pandemic and experts suggest that this scenario is going to remain so over the next few years.
- In the wake of Covid 19, many market participants have begun R&D activities in order to remain ahead of their competitors.
- Europe has established itself as the key regional market for antimicrobial powder coatings across the world.
The global antimicrobial powder coatings market is segmented into:
By Additive Type
- Copper & others
By End-use Industry
- Medical & Healthcare
- Food Equipment
- General Industry
- Fitness Equipment
- Steel Furniture
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- PPG Industries
- Sherwin-Williams Company
- Akzonobel N.V.
- Axalta Coating Systems Llc
- Berger Paints India Ltd
- Pulver Kimya San. Ve Tic. A.S.
- IGP Pulvertechnik AG
- Protech-Oxyplast Group
- Rapid Coat Powder Coatings
- IFS Coatings Inc.
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