Global Antimicrobial Coating Market Set for Rapid Growth, To Reach Around USD 4.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 04/21/2017 -- According to the report, global antimicrobial coating market was valued at around USD 2.10 billion in 2014 and is expected to reach USD 5 billion in 2020, growing at a CAGR of around 9% between 2015 and 2020. In terms of volume, the global antimicrobial coating market stood at above 325.0 kilo tons in 2014. The analysis provides significant information of the key players operating in this market includes AkzoNobel NV, BASF SE, Diamond Vogel Paints, Dow Microbial Control, E.I. du Pont de Nemours & Company (DuPont), Nippon Paint Co. Ltd., RPM International Inc., Royal DSM N.V., Sherwin-Williams Company, Sono-Tek Corporation, Troy Corporation, AK Coatings Inc. and Arch Lonza
Zion Market Research has published a new report titled "Antimicrobial Coatings (Antimicrobial Powder Coatings and Surface Modification & Coatings) Market for Indoor air quality, Mold remediation, Medical/healthcare, Antimicrobial textiles, Construction, Food and Other Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020"
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Antimicrobial coating deals with the protection of the surface or the product on which antimicrobial coating is applied. This coating helps to kill, prevent, discourage or perform as a combination of the actions to reduce the growth of micro-organisms such as germs, viruses, bacteria, fungi & molds and parasites. Antimicrobial coating exhibit the properties such as abrasion & scratch resistance, heat resistance, chemical resistance, adhesion promoting surfaces etc., due to which it is used in many applications. Antimicrobial coating has been modified to perform a dual role that is to protect human beings from diseases causing micro-organisms and reduce risk of infections as well as protecting the application surfaces at the same time.
The major driving factor for antimicrobial coating market is rapidly expanding market for indoor air quality products. Increasing awareness about hospital-acquired infections is also expected to have positive impact on growth of antimicrobial coating market. In addition, rising use of additives and coatings in plastic packaging coupled with increasing demand of plastic packaging in different applications is expected to fuel the growth of this industry. However, environmental issues related to antimicrobial coating are expected to limit the growth of this industry. Furthermore, huge untapped market for medical/healthcare industry is expected to offer growth opportunities to manufacturers.
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Antimicrobial powder coatings and surface modifications & coatings are the major product segments of antimicrobial coating market. Antimicrobial powder coatings are further segmented into silver and other product segment. E. coli, listeria, pseudomonas are the sub segments of surface modifications and coatings. Surface modifications and coatings was the leading product segment, which accounted for over 50% share of total volume consumption in 2014. Antimicrobial powder coatings product segment expected to exhibit moderate growth rate over the forecast period.
Key application markets for antimicrobial coating includes indoor air quality, mold remediation, medical/healthcare, antimicrobial textiles, construction, food and other. Indoor air quality dominated the global antimicrobial coating market in 2014. Medical or healthcare was the second largest application segment in the antimicrobial coating market in 2014. The antimicrobial textiles, mold remediation, construction, food market witnessed a significant growth in the recent years and this growth is expected to persist in the coming years. Antimicrobial coating are widely used in plastic packaging, as these offer abrasion & scratch resistance, heat resistance and chemical resistance.
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With around 40% shares in total volume consumption, North America was the largest market in terms of consumption antimicrobial coating. Due to huge importance given to medical and healthcare in general, the demand for antimicrobial coatings has been highest in North America. Asia-Pacific is the second largest market for antimicrobial coatings followed by Europe. Growing health awareness and changing consumer behavior is expected to drive the market in the region over the forecast period.