LONDON, Jan. 19, 2017 /PRNewswire/ -- "Global antimicrobial coatings market to witness CAGR of 12.1% during forecast period"
The antimicrobial coatings market is projected to reach USD 4.19 billion by 2021, at a CAGR of 12.1% from 2016 to 2021.
Antimicrobial coatings are a type of powder coatings that are used to prevent microbial growth on surfaces and thus prevent the spread of infections. Active ingredients and resins are the main constituents of these coatings. With the same physical and performance characteristics as standard coil coatings, antimicrobial coatings are available in polyester, urethane, epoxy, acrylic, and PVDF paint systems. Antimicrobial coatings are finding increased usage in various applications such as, indoor air / HVAC, medical, mold remediation, building & construction, foods & beverages, textiles, and other applications. Increasing demand from the medical application due to the growing awareness and per capita healthcare expenditure is driving the global antimicrobial coatings market.
Issues related to the demonstration of the efficacy and functionality of antimicrobial coatings is a major restraining factor in the antimicrobial coatings market.
"Silver product type to register fastest growth in antimicrobial coatings market"
The use of silver antimicrobial coatings in all applications is growing very fast. Efficient, flexible and the use of their germicidal properties against a wide variety of microbes are driving the demand for this product type. Silver antimicrobial coatings release silver ions over a period at a slow rate, which prevents microbial growth.
"Medical is the fastest growing application of antimicrobial coatings"
Medical is estimated to be the fastest growing application segment of the antimicrobial coatings from 2016 to 2021. Medical is projected to be the largest application, owing to the increased demand for use against hospital acquired infections in the healthcare industry. Growing awareness and increasing stringent regulations requiring the use of antimicrobial coatings in healthcare applications in developed countries are projected to drive the medical application at a high rate during the forecast period.
"North America is the largest and the fastest-growing market for antimicrobial coatings"
The North American region is estimated to be the largest and the fastest-growing market for antimicrobial coatings. The high growth rate in the region is due to the increasing demand from the U.S., which is estimated to be the largest market for antimicrobial coatings in the North American region, followed by Canada and Mexico. The U.S. is also estimated to be the fastest-growing market in the region. Growth in the medical devices, building architecture, indoor air / HVAC systems, and other applications have increased the demand for antimicrobial coatings.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 37%, Tier 2 – 47%, and Tier 3 – 16%
- By Designation - C level – 46%, Director level – 36%, and Others – 18%
- By Region - North America – 26%, Europe – 30%, Asia-Pacific – 22%, Middle East & Africa – 9%, and South America – 13%.
The companies profiled in this market research report are, AkzoNobel N.V. (Netherlands), BASF SE (Germany), Diamond Vogel Paint Company (U.S.), Axalta Coating Systems (U.S.), Nippon Paint Company Ltd (Japan), PPG Industries Inc. (U.S.), Royal DSM (Netherlands), RPM International Inc. (U.S.), The Dow Chemical Company (U.S.), and The Sherwin-Williams Company (U.S.), among others.
This research report categorizes the global antimicrobial coatings market on the basis of application, product type, and region. The report includes detailed information regarding the major factors influencing the growth of the global antimicrobial coatings market such as, drivers, restraints, challenges, and opportunities. The detailed analysis of key industry players provides insights into business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global antimicrobial coatings market comprehensively, and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market, and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions.
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