Antimicrobial coatings market growth is driven by strong application trends in healthcare and medical device segment

Overview

Global Antimicrobial Coatings Market  size produced higher than $2.5 billion revenue for 2015 and is projected to register CAGR of more than 10.1% during forecast timeline. Strong application overview in healthcare and medical equipment sector is predicted to propel global industry expansion. Global antimicrobial coatings industry contributed more than 25.1% to medical and healthcare segment for 2015 in terms of size. High end residential and commercial construction projects have witnessed an increase in product application which is aimed at reducing air pollution. The products can be included into producing materials and are utilized in conserving amount of air quality over a long period that can fuel industry expansion.

    Europe Antimicrobial Coatings Market size, by application, 2013-2024 (USD Mn)

Silver is the most dominant and active constituent and has substantially affected antimicrobial coatings market price trends. With higher than 60.1% of total revenue share, food packaging is main application for barrier & additive sector that converts into greater avenues for global antimicrobial coatings industry.

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Product Trends

Global antimicrobial coatings industry is segmented into surface modifications & coatings product and antimicrobial powder coatings product. Surface modifications & coatings segment produced revenue of more than $651 million for 2015. Properties like adhesion and long term stability are predicted to promote industry demand for the segment.

Antimicrobial powder coatings segment is predicted to experience 9.1% growth. Its use in domestic appliances, medical care, steel & furniture sector and sanitation can fuel demand for the product.

Application Trends

Global antimicrobial coatings market is segmented into medical & healthcare application, indoor air quality application, food application, antimicrobial textile application, mold remediation application and construction.

Indoor air quality application segment produced high sales for 2015. Strict rules in European Union and U.S. have made it compulsory for hospitals and schools to use antimicrobial coatings to minimize the medical infection hazard. This has encouraged new business entrants to invest in the application segment. It is predicted to witness healthy expansion during forecast timeline.

Medical & healthcare application segment can experience substantial gains of more than 9.6%. Increase in amount of medical equipments in U.S hospitals as well as hospitals in European Union can promote product demand. Mold remediation segment can witness biggest gains and produce more than $1.1 billion by end of forecast timeline.

Regional Trends

Global antimicrobial coatings industry is segmented into North America, LATAM, Asia Pacific, Europe and MEA. U.S antimicrobial coatings market produced heavy sales for 2015. Growing healthcare spending in U.S. owing to enhanced standards of living is predicted to drive regional industry growth.

Asia Pacific industry, with construction sector growth in China and India, is predicted to record CAGR of more than 9.6% by end of forecast timeline. End use applications like construction sector, food industry and medical industry are predicted to display substantial growth by end of forecast timeline. Indoor air quality application segment dominated China due to large production base in the region.

European antimicrobial coatings industry is predicted to produce sales of more than $1.36 billion by end of forecast period. Enhancing indoor air quality application and medical application is predicted to fuel regional industry expansion. Food sector development in countries like Italy, UK, France and Germany is predicted to boost the growth of European industry.

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Competitive Trends

Key industry players profiled in report include Nippon Paint Company Limited, Dow Microbial Control, DuPont, Troy Corporation, AzkoNobel NV, BASF SE, Royal DSM N.V., Diamond Vogel Paints, Sherwin-Williams Company, Arch Lonza, Sono-Tek Corporation, RPM International Incorporation and AK Coatings Incorporation

Author Name : Dhananjay Punekar