Wilmington, Delaware, United States, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global antimicrobial coatings market is prognosticated to reach a value of US$ 6.7 Bn by the end of 2031, as per a review by Transparency Market Research (TMR). Furthermore, TMR’s global market study on antimicrobial coatings highlights that the market is expected to grow at a CAGR of 12.1% during the forecast period, from 2021 to 2031.
Leading companies in the global antimicrobial coatings market are focusing on the expansion of their production capabilities in order to cater to the rising product demand from different end-use industries including indoor air quality products, food, packaging, and textile industries. Moreover, major antimicrobial coatings market manufacturers are investing heavily R&D projects in order to develop technologically advanced products. This aside, several players in the market for antimicrobial coatings are using different strategies such as joint ventures, mergers, product innovations, and collaborations in order to maintain their leading positions in the market. Such efforts, in turn, are likely to help in the rapid expansion of the antimicrobial coatings market size during the forecast period, note analysts of a study by TMR.
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The antimicrobial coatings market is expected to gain significant business opportunities in the North America region during the forecast period. The growth of the North America antimicrobial coatings market is ascribed to many factors including the presence of a sturdy healthcare infrastructure, surge in the investments for technological advancements, and rise in the product use in different end-use industries including the consumer electronics, mold remediation, healthcare, packaging, construction, and food, notes a study by TMR.
Antimicrobial Coatings Market: Key Findings
- Antimicrobial coatings are in high demand in the healthcare industry owing to a wide range of advantages they offer. For instance, these coatings are being increasingly used in various types of medical devices including implantable and surgical instruments in order to minimize the infection rates in healthcare organizations. Such factors, in turn, are projected to boost the sales growth in the antimicrobial coatings market during the forecast period. Moreover, the market for antimicrobial coatings is being driven by a rise in the investments by government authorities of several developing nations on their healthcare infrastructure.
- The concerns pertaining to different infectious disorders and their adverse effects on human health are being rising across the globe. This factor is anticipated to lead to profitable prospects in the antimicrobial coatings market in the near future. Furthermore, a rise in the healthcare expenditure across many developing and developed nations and surge in the use of different products with antimicrobial coatings are expected to help in the development of the global antimicrobial coatings market during the forecast period.
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Antimicrobial Coatings Market: Growth Boosters
- Surge in the application of antimicrobial coatings across the healthcare industry is fueling the market growth
- Increase in understanding among consumers about advantages of using antimicrobial coatings is boosting the demand of antimicrobial coatings market
- Rise in the prevalence of several infectious diseases including coronavirus is creating lucrative opportunities in the market
Antimicrobial Coatings Market: Key Players
Some of the key players profiled in the report are:
- BASF SE
- AkzoNobel NV
- Dow Microbial Control
- Diamond Vogel Paints
- Nippon Paint Co. Ltd.
- E.I. du Pont de Nemours & Company (DuPont)
- Royal DSM N.V.
- RPM International Inc.
- Sono-Tek Corporation
- Sherwin-Williams Company
- AK Coatings Inc.
- Troy Corporation
- Arch Lonza
Antimicrobial Coatings Market Segmentation
- Product Type
- Antimicrobial Powder Coatings
- Silver
- Others
- Surface Modifications and Coatings
- E. Coli
- Listeria
- Pseudomonas
- Others
- Antimicrobial Powder Coatings
- Application
- Indoor Air Quality
- Mold Remediation
- Medical/Health Care
- Antimicrobial Textiles
- Construction
- Food
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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