Antimicrobial Coatings Market

Antimicrobial Coatings Market Outlook

The global sales of the antimicrobial coatings market is valued at US$ 3.4 Billion in 2021. the market is expected to reach a valuation of US$ 12.5 Billion by 2032 with 12.9% projected growth during 2022-2032. 

Market for Medical Devices application is expected to be the highest revenue-generating segment, with a projected CAGR of 14.4% during 2022 – 2032.

Report Attributes	Details
Market Size in 2022	US$ 3.7 Billion
Market Forecast Value in 2032	US$ 12.5 Billion
Global Market CAGR (2022-2032)	12.9%
U.S. Market CAGR (2022 – 2032)	13.7%
Key Companies Covered	AkzoNobel N.V. Nippon Paint Co. Ltd PPG Industries, Inc RPM International The Sherwin Williams Company Lonza DuPont RPM International Inc Burke Industrial Coatings Troy Corporation

Revenue of Antimicrobial Coatings Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Global Antimicrobial Coatings Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value increased at around 9.5% CAGR.

Several factors that influence Antimicrobial products' development are the increased usage of antimicrobial coatings to restrain healthcare-associated infections, the heightened allocation of resources to create more awareness about antimicrobial-impregnated packaging to lower microbial contamination in packaged foods, and improved awareness.

For the past few years, healthcare-associated infections have been the most frequent adverse occurrence in both developed and developing nations. The World Health Organization (WHO) reports that 10% of patients from developing nations and 7% of patients from industrialized countries respectively, had at least one infection related to healthcare while undergoing treatment.

Similar trends in healthcare-related ailments are also observed in North American countries. For instance, according to a study, a European study found that illnesses linked to healthcare affect over 26,09,911 persons each year.

Several universities, institutes, organizations, and producers of antimicrobial coatings in Europe joined forces in 2016 to form AMiCI, with the goal of educating people and organizations about the study and application of antimicrobial coatings to lower the risk of healthcare-associated infections.

The global market is thus anticipated to expand as a result of rising awareness campaigns and hospitals’ active involvement in lowering healthcare-associated infections through the use of antimicrobial coatings.

What Factors Are Propelling Antimicrobial Coating Demand?

The key factors propelling the Antimicrobial Coating demand are increased healthcare-associated infections (HCAI) and a rise in the number of microbes. According to the European Center for Disease Prevention and Control, 37,000 people die as a result of healthcare-associated infections (HCAI), which affect more than 4 million people annually.

The global healthcare industry faces a huge problem in battling illnesses related to healthcare. HCAI infections are the sixth most common cause of death in Western nations. It is far worse in developing nations.

Surfaces must increasingly be shielded from bacteria and other microorganisms. Antimicrobial coatings appear to be the best choice in this situation. Coating the surface with antimicrobial agents is an easy process that results in a longer-lasting and safer solution.

The growth in the market of Antimicrobial Coating is also fuelled as it provides, protection against microbes, and fewer disinfectants are required. Besides, they also increase the value of infrastructure and provide extended life to the structure.

Which Region is projected to offer the Largest Antimicrobial Coatings Market Opportunity?

During the projection period, North America is expected to be the largest market, with a historical market growth of 9.7%. The factors that are responsible for it are expansion linked to the existence of numerous Covid-19 patients and large investments made in the development of the healthcare system. The country's ongoing investment in the advancement of healthcare will help promote market growth.

HVAC system manufacturers are also adding antimicrobial coatings on surfaces to assure the desired air quality by preventing the growth of mold and bacteria in response to stringent indoor air quality standards. Some of the key players in the North American Market include PPG Industries, Inc., RPM International, The Sherwin-Williams Company, DuPont, RPM International Inc, Burke Industrial Coatings, and Troy Corporation.

Country-wise Analysis

U.S. Antimicrobial Coatings Market

The United States is expected to account for the largest market of US$ 4.2 Billion by the end of 2032. It is expected to be projected to have an absolute dollar growth of US$ 3 Billion.

The demand for residential spaces among the millennial population has also increased as a result of the nation's building industry's rapid growth. Antimicrobial coatings can significantly improve these structures' resistance to corrosion and lengthen their useful lives.

The construction of hospitals and healthcare facilities has been sparked by the implementation of the Affordable Healthcare Act in the United States. The market for antimicrobial coatings in construction applications is projected to be fuelled by the expanding population, which is anticipated to further increase the development of office buildings, industrial facilities, schools, and colleges.

U.K. Antimicrobial Coatings Market

The market for antimicrobial coatings in the U.K. is expected to reach a valuation of US$ 596.5 Mn by 2032. With a projected CAGR of 15.2% during 2022 – 2032, the market in the country is likely to gross an absolute dollar opportunity of US$ 446 Mn.

Japan Antimicrobial Coatings Market

The market in Japan grew at a CAGR of 8.9% during 2017 – 2021. The market in Japan is projected to garner US$ 684.9 Mn by 2032, with an absolute dollar opportunity of US$ 521.3 Mn during 2022 – 2032.

South Korea Antimicrobial Coatings Market

The market in South Korea is likely to gross an absolute dollar opportunity of US$ 194.5 Mn during 2022 – 2032, growing at a CAGR of 10.6%. The market in 2032 is expected to reach a valuation of US$ 302.9 Mn.

Category-wise Insights

Why Medical Devices Category is projected to Witness the Fastest Growth in the Antimicrobial Coatings Industry?

Antimicrobial Coatings Market through the medical devices category is the largest revenue contributor and is anticipated to account for a CAGR of 14.4% during 2022–2032. The expansion of this market can be attributable to rising healthcare-related risks and expanding government efforts to combat diseases brought on by tainted medical equipment.

Antimicrobial coatings are used in healthcare-related associations (HAIs) to reduce the risk of infections brought on by those settings. Examples of bacteria and viruses that frequently raise the risk of HAI include MRSA, E. coli, and VRE. Even after repeated contamination and usage, products with an antimicrobial coating have a tendency to reduce the growth of bacteria and viruses in hospitals, facilities, patient rooms, medical facilities, and medical PPE areas.

Hospital beds, medical footwear, shelving units, dental trays, medication dispensers, medical drapes, furniture, shelving units, and surgical drapes are a few examples of items that use antimicrobial coatings to reduce the risk of HAIs and keep the environment clean, which is essential for patient recovery.

What was the impact of Covid-19 on the Antimicrobial Coatings Market?

Due to Covid-19, significant growth in demand for antimicrobial coatings was observed. Surface coatings, such as antimicrobial coatings, are utilized in healthcare institutions, public transportation, and other work locations to prevent the virus from spreading. Antimicrobial coatings have the power to thwart and reduce the risk of bacterial and viral infections that aim to spread the Covid -19 infection.

Depending on the climate and the surface, the SARS-CoV-2 virus is expected to live on surfaces for anywhere between 2 hours and 9 days. Additionally, SARS-CoV-2 is seen as a real hazard since it can spread through high-touch surfaces. In turn, this has inspired and enticed major market players to introduce cutting-edge antimicrobial coatings that are specially made to suppress the SARS-CoV-2 virus.

During Covid-19, the demand for antimicrobial coatings rose not only in the healthcare industry but also in the food industry. The processing and food industries are required to maintain microbiologically safe working and environmental conditions.

The coronavirus's advent has increased the demand for antimicrobial coatings, which are necessary to ensure sanitary working conditions in the food industry, packing, and delivery.

The usage of antimicrobial coatings in the food packaging sector is steadily rising, along with adherence to convective sanitation guidelines in the food industry. For better hygienic conditions, a company that packages ready-to-eat deli meat employs antimicrobial coatings. The worldwide market is driven by these factors in terms of adoption and demand.

Competitive Analysis

Some of the key players in the antimicrobial coatings market include AkzoNobel N.V., Nippon Paint Co. Ltd, PPG Industries, Inc, RPM International, The Sherwin Williams Company, Lonza, DuPont, RPM International Inc, Burke Industrial Coatings, and Troy Corporation.

Some of the recent developments in the Antimicrobial Coatings Market are:

• In April 2022, the inclusion of Specialty Coating Systems (Vietnam) Co. Ltd. was announced by Specialty Coating Systems, Inc. The ISO 9001:2015-certified plant serves clients in the aerospace, medical device, consumer industrial electronics, transportation, and industries with conformal coating services. The company will benefit from increased business and goodwill in Vietnam as a result of this growth.

• In November 2021, DuPont entered into a binding agreement to pay US$ 5.2 Bn to buy Rogers Corporation. As a global multi-industrial firm focused on market-leading, high-growth, high-margin industries with complementary technological and financial traits. DuPont recently announced a number of initiatives that advance its strategy. DuPont will be able to grow its business with the assistance of Rogers Corporation owing to this breakthrough.

• In April 2020, for Personal Protective Equipment (PPE) like face masks, the Indian Institute of Technology has created spray-based antimicrobial coatings that will destroy over 99.9% of germs and viruses. To combat COVID-19, an IIT-Madras business designed clothes containing antibacterial substances in April 2020.

• In April 2020, a polymer-based antimicrobial surface coating created by CIIRC-Jyothy Institute of Technology for textiles and other industrial applications was scaled up and marketed by National Innovation Foundation (NIF).

Segmentation of Antimicrobial Coatings Research

• By Type

  • Silver
  • Copper
  • Titanium Dioxide

• By Application

  • Medical Devices
  • Indoor Air Quality
  • Construction
  • Other Application

• By Region

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA