Global Antimicrobial Coatings Market 2017-2021
About Anti-Microbial Coatings
Antimicrobial coatings are coatings that contain antimicrobial agents in them. Like other coatings, these coatings not only enhance appearance, durability, and corrosion resistance property but also protect the coated surface from harmful microbes that cause disease. The manufacture of these coatings involves the addition of biocides to the formulation. Various bacterial and fungal inhibitors, such as silver and copper are commonly used in their production. These coatings either inhibit the bacterial growth or kill the bacteria which come in contact with them. Indoor air quality systems, mold remediation, medical industry, food and beverages, textiles, and others are the major application areas of these coatings.
Technavio’s analysts forecast the global anti-microbial coatings market to grow at a CAGR of 14.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global anti-microbial coatings market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Anti-Microbial Coatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global anti-microbial coatings market: Axalta Coating Systems, AkzoNobel, BASF, PPG Industries, RPM International, and Sherwin-Williams.
Other Prominent Vendors in the market are: Nippon Paint, Kansai Paint, Valspar, Sika, and Jotun.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is introduction of roughened polydopamine. Polydopamine is used in high-performance coatings and biomedical surfaces. It is also used in wound healing and tissue engineering applications. Polydopamine is being replaced by roughened polydopamine, which is formed by an extra step involving shaking-assisted method by a mechanical shaker.”
According to the report, one driver in market is concerns regarding nosocomial infections. Nosocomial infections are fungal or bacterial infections caused due to the unhygienic and poor infrastructure of hospitals and the hospital environment. The consequence of these infections is the additional high cost for patients and financial burden for healthcare systems. Medical devices which are in contact with body fluids, such as blood and urine are the route of these infections. As per the Center for Disease Control and Prevention (CDC) Annual National and State Healthcare-Associated Infections (HAI) Progress Report in 2016, about 75,000 patients died due to these infections. The incidence of these infections can be reduced by using antimicrobial coated catheters, surgical instruments, and wall cavities as they inhibit the growth of microbes.
Further, the report states that one challenges in market is increasing competition among vendors. The global antimicrobial coatings market is highly competitive. Vendors in the market are facing stiff competition from the key vendors. These vendors compete in terms of cost, quality, service, and technology. They are trying to differentiate their products from that of their competitors through continuous innovations, which turned out to be the competency of the manufacturers of antimicrobial coatings. In addition, the prevailing competitive scenario in the market has created a barrier for the new entrants to enter the market as it is capital intensive. The increasing competition leads to the reduction of price, which is affecting their profit margins. This creates a challenge for the manufacturers in terms of procurement of raw materials, whose prices are fluctuating, which will affect the ROI of the manufacturers. Therefore, the failure in competing effectively could affect profitability, financial position, and cash flow when the vendors fail to retain the clients or attract customers.
Axalta Coating Systems, AkzoNobel, BASF, PPG Industries, RPM International, Sherwin-Williams, Nippon Paint, Kansai Paint, Valspar, Sika, and Jotun.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook