Anti-microbial Coatings Market - Growth, Trends, and Forecast (2020 - 2025)
The market for antimicrobial coatings is expected to register a CAGR of around 5%, during the forecast period. Major factors driving the market studied are the growing demand for germ resistant durable goods and growing application in medical equipment manufacturing. On the flip side, lack of technological awareness in developing and underdeveloped nations, and volatility in raw material prices are expected to hinder the growth of the studied market.
Silver coatings dominated the global market and are expected to grow during the forecast period, owing to the growing application of antimicrobial coatings, especially in the medical industry.
In addition, increasing R&D activities, and development of multifunctional coatings are likely to provide opportunities for the studied market during the forecast period.
North America dominated the market across the world, with the largest consumption from the countries, such as the United States, and Canada.
Key Market Trends
Healthcare Segment to Dominate the Market
Healthcare is one of the major industries with maximum usage of antimicrobial smart coatings. These coatings are used majorly on surgical devices as they help in inhibiting the spread of germs and bacteria among patients, doctors, and caretakers. AMCs contain active ingredients that inhibit microorganisms’ ability to grow on a surface. This helps to form a toxic or nontoxic barrier for detrimental microorganisms.
Antimicrobial coatings are being customized to form a toxic or nontoxic barrier for detrimental microorganisms. This increases the widespread adoption of antimicrobial agents in medical applications. Moreover, the triggering mechanism in antimicrobial coatings, to turn on specific functionality, can be exploited to develop efficient drugdelivery systems.
In the healthcare industry, antimicrobial coatings are also used for surgical masks, gloves, bandages, wound dressing, and hospital textiles (woven, as well as nonwoven) among others. Among the previously mentioned applications, medical textiles have a maximum usage of antimicrobial coatings.
The regions, such as North America and Europe, hold the largest market demand for antimicrobial coatings for healthcare applications, as these regions incur huge R&D investments and make continuous efforts for developing advanced medical devices and equipment.
United States has the largest share in the global healthcare market and rapid growth of the medical industry in the nation is expected to augment the demand for antimicrobial coatings.
North America Region to Dominate the Market
The North American region dominated the global market share. Continuous innovation in the healthcare industry and increasing production of processed food have been majorly driving the growth of the studied market in the region.
United States stands to be the largest medical device market in the world, with the strongest and most advanced R&D medical facilities boosting the growth of the market.
The preference for antimicrobial coated medical equipment in the United States is increasing due to the various initiatives taken by the government as well as the hospitals in the country to prevent nosocomial infections.
The demand for medical devices & products has been increasing in the country due to the rising old population as well as an increase in the number of patients with chronic diseases such as cardiovascular & diabetes. With this, the hospitals must take excessive care related to hygiene, and infection control measures, which is further increasing the demand and application of antimicrobial coatings in the healthcare industry.
There is also an increase in the application of antimicrobial coatings in public and hightraffic areas, to inhibit the spread of pathogens that can cause diseases, which is further adding to the demand for antimicrobial coatings in the country.
The antimicrobial coatings market is a fragmented market, with numerous players holding a small share of market demand. Some of these major players include Akzo Nobel N.V., BASF SE, The SherwinWilliams Company, PPG Industries, Inc., Lonza, and Royal DSM, among others.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook