The marketplace for antimicrobial coatings will grow to $5.9 billion before 2026, based on an annual compound growth rate (CAGR) at 11 percent.
As can be seen in various other industries, COVID-19 lowered global paint as well as coatings market sales by up to $167.6 billion for 2020. That’s a decrease of 3 percent from the prior year. The outbreak prompted global lockdowns through the majority of 2020 and the year 2021. This has had a negative impact on shipping and production and resulted in a skewed global performance and a major shift in the market segment.
However, the demand for antimicrobial and antiviral coatings has increased dramatically, as the concerns over cleanliness and hygiene are rising in all industries. The antimicrobial coatings market has historically had difficulties in gaining wide acceptance due to the difficulties in evaluating their effects on the health of humans. The pandemic however has made them a priority as a crucial precautionary measure. The demand of these coatings is expected to be at least two times the amount it was prior to the outbreak. This is why the leading firms in the world of painting, as well as the coatings market, have intensified their antimicrobial and antiviral coating production research and development to meet this demand.
Perhaps not by accident, the demand in Antimicrobial coatings for medical equipment has grown. This application segment is expected to grow more quickly than the sanitary facilities found in kitchens, and also air cooling or ventilation units. This is largely due to the amount of hospital-acquired illnesses (HAIs) growing as well as the fact that antimicrobial coatings are the preferred choice of medical professionals, as antimicrobial coatings are more effective in preventing the spread of germs over powerful cleaning chemicals and disinfectants. The reality is that in North America, government authorities as well as healthcare institutions have been driving demand for the U.S market because of increasing concerns about the reduction of HAIs. This being said, even though the demand is strong, strict rules in both Europe and the United States are expected to limit demand. European Union and the United States are expected to reduce global demand.
BCC Research published a comprehensive report that examines the market for antimicrobial coatings market. We’ll share a few highlights of the report.
Chart Breakdown of the Market by Country
North America has the largest market share, accompanied by the high need of Antimicrobial coatings (Figure 1.). This is understandable since it is the U.S. spends the most on healthcare — nearly $3 trillion annually when compared with other nations.
The outbreak has served as the catalyst for antimicrobial research and has led to funding companies forming start-ups to develop antimicrobial coatings for textiles, while major producers are looking at ways to incorporate coatings into their products, such as commercial and consumer vehicles.
But, there are many differences in antimicrobial coatings that are created all the same. Metal antimicrobial compounds such as copper and silver are able to kill viruses and bacteria but dispersing them within coating matrices isn’t always easy. Bio-based, enzyme-based, and photocatalytic coatings are also proven to be efficient. In reality, photocatalytic coatings which can be activated with light have become well-known because of their ability to self-clean as well as viral resistance.
Market Breakdown through Application
Antimicrobial coatings are antimicrobial coatings for glass panels, doors, and walls, as well as doors, HVAC tents, counters as well as other items. In addition, masks, gloves as well as carpeting are all coated using antimicrobial coatings.
In the building of public structures, doors, walls, and countertops must be coated with the form of an antimicrobial coating. This, in conjunction with the necessity to minimize the risk of contamination by contact across the construction industry, is predicted to promote the application of antimicrobial coatings and increase the demand in the construction industry.
Additionally, the growing number of concerns of parents and rising demand for safer schools are expected to increase the demand in antimicrobial coatings. Since these coatings are safe and don’t leave toxic residue, they are perfect for use on the walls of corridors and classrooms as well as handrails.
In actuality, antimicrobial coatings are anticipated to witness a surge in demand from all sectors, such as the dental and medical food and catering industry technologies, self-service technology for public transport, toilets and lockers, as well as telecommunications because all have an immediate need for these coatings.
Antimicrobial coatings are fast becoming crucial elements of infection control practices in a variety of areas of private and public life, leading to a constant and steady increase in the demand for them across all industries.
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