Antimicrobial Coatings Market, 39% of Growth to Originate from APAC, Technavio

NEW YORK, May 8, 2024 /PRNewswire/ -- The global antimicrobial coatings market size is estimated to grow by USD 3.62 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 11.8% during the forecast period.

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Region Outlook

1. APAC
2. North America
3. Europe
4. South America
5. Middle East & Africa

1. APAC - In the forecast period, the Asia-Pacific (APAC) region is anticipated to contribute significantly, accounting for 39% of global market growth. Analysts from Technavio have detailed the regional trends and drivers shaping the market. APAC boasts a prominent position in the global air-handling units market, making it a vital area for antimicrobial coatings. Improved living standards, GDP growth, and higher disposable incomes are fueling demand for value-added products, benefiting businesses of all sizes.

• Moreover, many companies from developed markets are establishing operations in APAC. Increasing awareness is also spurring adoption in the region. The APAC food and beverage market is expected to grow positively due to improved economic conditions in countries like China, India, Indonesia, and Australia. Urbanization and changing lifestyles are driving demand for fast food and ready-to-eat meals, further boosting the food and beverage market in APAC.

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Segmentation Overview

1. Application 
• 1.1 Indoor air quality system
• 1.2 Mold remediation
• 1.3 Medical
• 1.4 Food and beverage
• 1.5 Textiles and others
2. Product 
• 2.1 Powder coatings
• 2.2 Surface modification coatings
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Fastest growing segment: The indoor air quality system segment is set to experience significant growth during the forecast period, having dominated the global market in 2022. This dominance is primarily due to poor indoor air quality in urban areas. The segment has shown a steady increase from USD 1.21 million in 2017 to date. The continuous presence of a protective coating ensures bacteria growth remains minimal, contributing to healthier indoor environments. Factors such as infrastructure development, population growth, pollution, and increased disposable income are fueling this expansion. Consequently, the indoor air quality system market is rapidly expanding on a global scale.

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Research Analysis

The Antimicrobial Coatings Market is witnessing robust growth owing to rising concerns about parasites, germs, and hospital-acquired infections (HAIs) in the healthcare industry. With the European Union imposing stringent hygiene standards, demand for antibacterial coatings on medical devices like catheters, implants, and surgical instruments is escalating. Industries are adopting innovative applications of silver and copper-based coatings to combat pathogens effectively.

Developed economies are investing in technology upgradation to enhance surface modifications and biocompatibility of orthopedic implants. Emerging nations are also focusing on skilled labor to meet the demand for antimicrobial coatings in electronic items and protective apparel. Government efforts to promote hygienic consciousness are further fueling revenue opportunities across end-use industries like pharmaceuticals, packaging, and construction.

Transparency Market Research indicates a rise in usage of antimicrobial coatings, with key drivers being surface modifications and the diversity of coatings product types including silver salts, colloidal silver, and nano-silver for hygiene products.

Market Overview

The Antimicrobial Coatings Market is a significant and growing industry, particularly in the context of the ongoing global health crisis. These coatings, applied to various surfaces, offer protection against the growth of microorganisms, including bacteria, fungi, and viruses. 

The use of antimicrobial coatings is widespread in various sectors, including healthcare, food and beverage, and consumer goods. In healthcare settings, these coatings are employed to reduce the risk of healthcare-associated infections. In the food industry, they help maintain food safety and extend shelf life. In consumer goods, antimicrobial coatings are used to enhance product durability and hygiene.

The market for antimicrobial coatings is driven by factors such as increasing awareness of health and hygiene, the growing demand for eco-friendly and sustainable solutions, and the rising prevalence of antibiotic-resistant microorganisms. The market is expected to grow at a significant rate in the coming years, with the development of advanced technologies and the increasing adoption of antimicrobial coatings in various industries.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Website: www.technavio.com/

SOURCE Technavio