Antiviral Coating Market: Current Analysis and Forecast (2021-2027)
The global antiviral coating market is expected to surpass USD 1.3 billion by 2027. For the last couple of years, the antiviral coating is gaining momentum as consumers are getting more cautious about cleanliness, health, and workplace safety in the light of COVID-19. The growth is further supported by the increasing demand for antiviral coating across the industries like consumer appliances, construction, textile, and healthcare in order to reduce the transmission from products to people. Therefore, to increase the market presence, many companies are developing antiviral coatings for the aforementioned industries like Honeywell International Inc., which is developing a coating for air filters that kills as much as 97% of the coronavirus. In addition, it is expected that a rising end-use industry owing to increasing population, rapid urbanization, and improving per-capita income will increase the demand for antiviral coating, as it is expected that consumers will permanently transition from conventional coating to antiviral coating in order to mitigate the risk of infection.
Insights Presented in the Report
“Amongst technology, the silver-ion segment held a prominent share in the market in 2020.”
Based on technology, the market is categorized into silver-ion, copper-ion, and others. Among these, silver-ion technology held a significant share in the market and is likely to showcase robust growth during the forecast period. Silver-ion has low toxicity and high efficiency & durability owing to which it is used in the coating industries for a long time. Further, both the Environmental Protection Agency and the World Health Organization regard silver as safe, as a result, companies are preferring silver-ion over others in the case of antiviral coatings as well. For instance, in 2021, AkzoNobel N.V. launched a new Dulux Wash & Wear Anti-Viral paint. The new range comes with the proprietary KidProof+ Technology and an added layer of antiviral protection from the Silver Ion Technology.
“Amongst end-user, the construction industry accounted for considerable share in the global antiviral coating market
Based on end-user, the market is categorized into construction, consumer appliance, healthcare, textile, and others. Among these, construction industries held a significant share in the market. Large and growing construction activities coupled with the growing demand for antiviral paints among consumers as they have become more mindful of cleanliness and hygiene, especially so for parents with young children created the large market potential for antiviral coating in the construction industry. As a result, several paints & coatings manufacturer has launched products with antiviral characteristics. For instance, in 2021, PPG Industries Inc. launched Comex VINIMEX TOTAL Antiviral and Antibacterial paint. As per the company, the new product reduces up to 99.9% of bacteria and viruses responsible for the most common gastrointestinal and respiratory illnesses, including Influenza A H1N1 and the COVID-19 virus, SARS-CoV-2.
“Asia Pacific captured significant position in the antiviral coating market”
For a better understanding of the market adoption of Waterborne Coatings, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to the large and growing base of the end-use industry due to improving consumer spending power, rapid urbanization, and growing demand for better quality products. Further, increasing strict environmental legislation is increasing the adoption of antiviral coating in the region.
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