ANTIMICROBIAL COATING INDUSTRY OVERVIEW
The global antimicrobial coatings market size to reach USD 6 billion by 2026, growing at a CAGR of 6% during the forecast period. The outbreak of the COVID-19 pandemic has significantly influenced the market. The demand for antimicrobial coating from the healthcare industry has increased drastically to prevent the spread of hospital-acquired infections (HAIs) during the pandemic. Over 2 million people are affected, and 90,000 people die annually due to HAIs, thereby emerging a major cause for mortality across the world. With the healthcare industry set to cross over USD 200 billion mark due to the growth of smart hospitals and medical tourism, the demand for advanced medical equipment and surgical procedures increases, thereby increasing the application at a rapid pace.
Silver, copper, and zinc are the major antimicrobial coating solutions. However, silver nanoparticles are in high demand in healthcare, medical devices, and industrial end-users due to their unique physical and chemical properties. Silver nanoparticles are also effective for new infectious diseases that contain the pathogenic virus. Hence, the rise of HAIs, growth in the geriatric population, increased chronic disorders, and the expansion of construction sectors, textile, and stringent government regulations for HVAC expect to aid the growth of the global antimicrobial coatings market.
- The US expects to be the largest market for antimicrobial coatings due to its high application in medical devices and the rise in minimally invasive surgeries.
- APAC is likely to account for over 18% of the market share during the forecast period with the growth in HAI cases and substantial investments in healthcare facilities.
- Japan, South Korea, Indonesia, and Thailand expect to emerge as major revenue contributors to the APAC region during the forecast period.
- Europe expects to observe an incremental growth of over 46% during the forecast period due to the growth of oil & gas industries and the rise in residential, non-residential, and commercial construction activities.
- The Middle East & Africa region is likely to witness an incremental growth of over 41% during the forecast period.
- The antimicrobial paint market in India is likely to grow at a CAGR of approx. 8% because of the increased awareness of hygiene, safety, and government initiatives to control HAI growth.
- Silver antimicrobial coating solutions expect to observe an incremental growth of over USD 1 billion by 2026.
- Healthcare antimicrobial coating solutions are likely to cross USD 3 billion by 2026
GLOBAL ANTIMICROBIAL COATINGS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Material Type
INSIGHTS BY MATERIAL TYPE
The global silver material market expects to reach over USD 3 billion by 2026. Silver metals are heavily used in various end-user industries, which contribute over 54% of the market share by value. They are used in the antimicrobial coating due to the broad continuum of antibacterial, antifungal, antiviral properties, less toxicity, high efficiency, and long-lasting effect. In addition, they show low cytotoxicity and immunological response. Therefore, silver nanoparticles are used in the biomedical sector on a wider scale. These materials are finding high applications in medical tomography, molecular diagnostics, and therapeutics such as fabrication of artificial joint replacements, wound dressing, and surgical wire.
The copper-based antimicrobial coating accounted for over 15% market share in 2020. The demand for copper-based coatings is likely to increase during the forecast period due to the growing awareness among manufacturers regarding the material's potent antimicrobial properties and availability at a low cost compared to other metals. Copper surface coating kills 99.99% of the microbes within 2 hours of being in contact and remains effective in killing the bacteria after repeated colonization. This property is increasing its usage in hospitals and other healthcare centers. Unlike silver, copper is used on various surfaces such as doorknobs, railings, drawers, IV poles, water jugs, cookware, and utensils.
INSIGHTS BY END-USER
The healthcare antimicrobial coatings market is expected to reach over USD 3 billion by 2026, growing at a CAGR of over 7%. The segment accounted for over 54% of the market share in 2020. The healthcare industry is one of the largest end-users. The increasing awareness of hygiene and health safety, growing HAIs cases, and steady increase in chronic orders are stimulating the demand in the healthcare sector. High touch surfaces in hospitals such as surgical equipment, lift-buttons, bedside railings, and IV poles are coated with antimicrobial solutions to prevent the growth of microbes. Currently, North America is the leading market in the application of antimicrobial medical device coating industry; however, APAC is the fastest-growing region.
The construction antimicrobial coatings market accounted for approx. 8% market share in 2020. Antimicrobial coatings are widely used in residential and commercial buildings, hotels, schools, and airports to prevent the risk of cross-contamination. Factors contributing to the growth are the growing consciousness about hygiene and safety and the increased awareness of the adverse effects of biofilms on human beings. The demand is expected to increase due to the rise in construction activities across the world and several government initiatives boosting housing buildings. Antimicrobial coating solutions in the food industry constituted over 12% market share in 2020. They are widely used in food contact surfaces such as slaughter surfaces, knives, counterparts, tables to protect the food from microbial contamination.
INSIGHTS BY GEOGRAPHY
North America dominated the antimicrobial coatings market share of approx. 38% in 2020. The US and Canada are the major end-users in North America and accounted for a revenue share of approx. USD 2 billion in 2020. Owing to the growth of HAIs and the steady rise in chronic diseases, the region is expected to grow at the fastest CAGR of over 6% during 2020–2026. Furthermore, the growth in residential and commercial construction activities, the demand for safe and hygienic food, stringent regulations for installing HVAC systems in buildings is likely to boost the demand in North America. In terms of revenue, APAC accounted for over 18% market share in 2020. The region is the fastest growing market for antimicrobial coating and is expected to increase the demand in the coming years. The rise in the geriatric population, the increase in healthcare expenditure, and the high adoption of antimicrobial solutions in several end-user industries such as construction, healthcare, textile, and food & processing industry are the primary factor responsible for the market’s growth. China, India, and Japan are the key contributors to the APAC antimicrobial coatings market. China accounts for over 25% share of the market. The demand for antimicrobial coating in China is driven by healthcare, building & construction, textile, and oil & gas industry.
INSIGHTS BY VENDORS
Sherwin -Williams, Akzo Nobel NV, PPG Industries, RPM International, and Axalta Coating Systems are the major players in the antimicrobial coatings market and constitute the maximum share of the market. These companies are at the forefront of delivering innovative and high-quality solutions. Companies have started focusing on sustainability with a commitment to generate more value from fewer resources and turning environmental challenges and societal concerns into product innovations. Several new players entered the antimicrobial coating market with the onset of the COVID-19 pandemic. They expect to expand their presence worldwide during the forecast period, especially in the fast-developing countries in the APAC region, to gain more market share.
The global antimicrobial coatings market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Titanium Dioxide
- Food Industry
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa