The antimicrobial coatings market was valued at US$ 2,918.30 million in 2019 and is projected to reach US$ 7,514.56 million by 2028; it is expected to grow at a CAGR of 11.2% from 2020 to 2028.
Market Insights and Analyst View:
Antimicrobial coatings are coatings that are treated with an antimicrobial agent and applied to a surface to prevent the growth of bacteria, mold, mildew, or algae. The most common actives used to manufacture antimicrobial coatings include various isothiazolinone treatments, silver, zinc pyrithione, and quaternary ammonium compounds. Antimicrobial coatings add value and functionality to finished products by reducing odors, staining, and by extending product life. An antimicrobial coating offers proven surface protection by controlling the growth of unwanted bacteria and fungi. The antimicrobial coatings are used for various applications such as housewares, commercial, industrial, outdoor, building products, and healthcare these factors are expected to propel the antimicrobial coatings market growth.
Growth Drivers and Challenges:
The demand for antimicrobial coatings has been rising in healthcare setting for sterilization of medical devices. However, the use of antimicrobial coatings is not limited to medical industry and has been expanding across diversified end use industries such as indoor air/HVAC applications along with building and construction, food & beverage, mold remediation, and packaging.
For building and construction purpose, the antimicrobial coatings are used to cover the walls and surfaces of manufacturing capabilities, factories, and stations to keep them away from the propagation of microbes. Moreover, these coatings find applications in residential and commercial facilities, indoor handles, flooring and roofing systems, workstations, and other such places. In food & beverage industry, the antimicrobial edible films and coatings protect foodstuff against spoilage and help minimize the risk of pathogen propagation on the food surface. Additionally, these coatings are used to wrap fish and meat products as well as fruits and vegetables. The positive impact of globalization, improvements in manufacturing capabilities in developing economies, and incorporation of advanced technologies are among the factors bolstering the demand for antimicrobial coatings. Additionally, the demand of antimicrobial coatings has increased across diversified application bases during COVID-19, SARS, and other such pandemic.
However, biocidal chemicals used in antimicrobial coatings are considered inherently toxic. Such biocidal products show destructive effect toward several types of cells/organisms apart from target organisms and are also proved to be harmful for humans, animals, and environment. All such factors may restrict the growth of the market.
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Antimicrobial Coatings Market: Strategic Insights
Market Size Value in US$ 2,918.30 Million in 2019 Market Size Value by US$ 7,514.56 Million by 2028 Growth rate CAGR of 11.2% from 2020-2028 Forecast Period 2020-2028 Base Year 2020
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Antimicrobial Coatings Market: Strategic Insights
| Market Size Value in | US$ 2,918.30 Million in 2019 |
| Market Size Value by | US$ 7,514.56 Million by 2028 |
| Growth rate | CAGR of 11.2% from 2020-2028 |
| Forecast Period | 2020-2028 |
| Base Year | 2020 |
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Report Segmentation and Scope:
The “Global Antimicrobial Coatings Market” is segmented on the basis of raw material, application, and geography. Based on raw material, the antimicrobial coatings market is segmented into silver, copper, titanium dioxide, and others. In terms of application, the market is classified into medical, HVAC, mold remediation, building and construction, foods and beverages, and others. The antimicrobial coatings market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
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Segmental Analysis:
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Based on application, the antimicrobial coatings market is segmented into medical, HVAC, mold remediation, building and construction, foods and beverages, and others. The medical segment holds a significant share of the market and is expected to register a significant CAGR in the antimicrobial coatings market during the forecast period. Bacteria cause the majority of infections associated with medical device implantation. Bacterial infections are a major concern, causing increased human suffering and increasing healthcare costs around the world. Externally or internally, medical devices for human or animal use may be used to spread bacterial, viral, fungal, or other unwanted infections. Healthcare facilities perform various research and development activities in order to enhance patient safety and reduce the risk of infection in hospitals or clinics. Pathogens that cause diseases associated with health care pose a threat to clinics and hospitals. To prevent this, medical devices are treated with antimicrobial agents, propelling the market growth.
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Regional Analysis:
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Based on geography, the antimicrobial coatings market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The global antimicrobial coatings market was dominated by North America; the market in this region was valued at US$ million 1,083.59 in 2018. Asia Pacific is the second major contributor to the market, which holds more than 20% of the global antimicrobial coatings market share. These emerging countries in Asia Pacific are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the antimicrobial coatings market. The antimicrobial coatings industry in the region has experienced a considerable shift over the years. The massive growth is due to the rising healthcare industry in emerging economies, such as India and China. The growth of the major end-use industries, such as healthcare, construction, and food processing and packaging, is driving the market. The robust manufacturing base of the packaging products industry in countries, as well as increased sales of eCommerce and packaged food products, are expected to augment regional market growth. Furthermore, favorable policies implemented by the government of India, such as Foreign Direct Investment (FDI) and Make in India, are expected to create sufficient growth opportunities for the food processing and healthcare industries, which, in turn, is expected to increase the consumption of antimicrobial coatings in the region.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the antimicrobial coatings market are listed below:
- In March 2023, AkzoNobel partnered with BioCote to expand their Interpon brand antimicrobial powder coatings. This can be used on a variety of internal surfaces, such as window frames, ceiling tiles, metal office partitions, metal doors, and elevator doors, thus expanding the company's product portfolio.
- In March 2022, PPG industries Inc. announced to open the R & D center in Milan, Italy. This research & development center will develop innovative technologies for powder coating.
COVID-19 Impact:
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several application industries, including the food & beverage, healthcare, construction. The market for antimicrobial coating is impacted by the pandemic due to shortfall in production along with limited transportation facilities. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Antimicrobial coating manufacturers temporarily close their operations or limit their production capacities, negatively impacting the antimicrobial coatings market growth. However, by the end of 2021, many countries were fully vaccinated, and governments announced relaxations in certain regulations, including lockdowns and travel bans. Along with this, the relaxation of trade restrictions aided in import and export operations, positively impacting the antimicrobial coatings market growth.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global antimicrobial coatings market include Cupron, Alistagen Corporation, AK Coatings Inc., Fiberlock, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., Nano-Care Deutschland AG, and Axalta Coating Systems among others. These market players are adopting strategic development initiatives to expand, further driving the antimicrobial coatings market growth.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Raw Material and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
In 2019, North America held the largest share of the global antimicrobial coatings market. Several domestic and foreign companies have a strong presence in the North American region. In the North American, the United States is a major market for antimicrobial coatings, followed by Canada and Mexico. The development in the North American region is powered by ongoing investments for the advancement of the healthcare sector in across markets such as the United States and Canada. The North American is the largest market for antimicrobial coatings, as the key manufacturers of antimicrobial coatings are located in the region. In addition, the existence of a large COVID-19 patient pool and substantial investment in building the healthcare system is attributed to the market development.
The major players operating in the global antimicrobial coatings market are Cupron; Alistagen Corporation; AK Coatings Inc.; Fiberlock; Microban International Ltd.; PPG Industries Inc.; Akzo Nobel N.V.; DuPont de Nemours, Inc.; Nano-Care Deutschland AG and Axalta Coating Systems among many others.
Medical segment held the largest share in the global antimicrobial coatings market in 2019. Antimicrobial coatings are used in medical devices to destroy or hinder the growth of microorganisms. Antimicrobial coatings help to defend surfaces from pathogens such as fungi, viruses, bacteria, germs, and others. Further, the growing number of hospitals, combined with the growing demand for healthcare services, generates a demand for advanced technologies and equipment, which will boost antimicrobial coatings market demand. Moreover, the growing demand for biocompatible, non-toxic, and biostable antimicrobial coatings in catheters, implantable, and surgical instruments will drive market growth. Furthermore, the outbreak of the COVID-19 pandemic is expected to increase demand for antimicrobial coated medical devices, which is expected to drive the market
The List of Companies - Antimicrobial Coatings Market
- Cupron
- Alistagen Corporation
- AK Coatings Inc.
- Fiberlock
- Microban International Ltd.,
- PPG Industries Inc.
- Akzo Nobel N.V.
- DuPont de Nemours, Inc.
- Nano-Care Deutschland AG
- Axalta Coating Systems
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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