Antimicrobial Coatings Market to grow at a CAGR of 11.8% from 2022 to 2027; Innovation in antimicrobial powder coatings to boost market growth - Technavio

NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The antimicrobial coatings market size is forecast to increase by USD 3,620.07 million from 2022 to 2027, at a CAGR of 11.8%, according to the recent market study by Technavio. The growth of the market will be driven by the growing preference for MIS and non-invasive techniques, the increase in hospital-associated infections, and the increased adoption of green buildings. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Antimicrobial Coatings Market – Company  Analysis

Technavio has extensively analyzed 15 major companies, including Akzo Nobel NV, Arxada AG, AST Products Inc., Axalta Coating Systems LLC., BASF SE, Biomerics LLC, Dow Chemical Co., Fenix Group, Kansai Paint Co. Ltd., Koninklijke DSM NV, Lonza Group Ltd., Nippon Paint Holdings Co. Ltd., OC Oerlikon Corp. AG, PPG Industries Inc., RPM International Inc., Sciessent LLC, Sika AG, Sono Tek Corp., The Sherwin Williams Co., and W.M. BARR Co. Inc. 

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and Companies' product offerings.
• The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Antimicrobial Coatings Market - Segmentation Assessment

The market is segmented by application (indoor air quality system, mold remediation, medical, food and beverage, and textiles and others), product (powder coatings and surface modification coatings), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth by the indoor air quality system segment will be significant during the forecast period. The growing market for this segment, especially in urban areas, is due to poor indoor air quality. If the coating is present, bacterial growth will occur on the steel and this protective layer ensures that the air is free of harmful microorganisms. The market for indoor air quality systems is growing rapidly. This growth is driven by infrastructure development, population growth, pollution, and rising disposable income, driving the growth of antimicrobial coatings for the indoor air quality systems segment. 
• APAC is estimated to account for 39% of the global market during the forecast period. Rising living standards, GDP growth, and rising disposable income are the main drivers of growth in the region. These factors are increasing the demand for value-added products in the region. Many companies in developed markets have established facilities in the region. In addition, there are strategic alliances between suppliers, such as the partnership between BASF and Permionics Membranes Pvt. Ltd. Ltd. which have contributed to the growth of the market.

To get detailed insights about inclusions and exclusions, buy the report

Antimicrobial Coatings Market – Market Dynamics

Key Drivers

An increase in hospital-associated infections is a key factor driving market growth. HAIs pose significant risks to patient health and are a leading cause of healthcare-related mortality and morbidity worldwide. The most common causes include surgical site infection, catheter-associated urinary tract infection (CAUTI), and central line-associated bloodstream infection (CLABSI). Regulatory agencies such as the FDA, EU, CMS, and Joint Commission have introduced strict regulations and penalties to encourage infection control practices in healthcare facilities. As a result, healthcare providers are increasingly using advanced technology and antimicrobial coatings to reduce the incidence of HAIs and improve patient safety. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

Innovation in antimicrobial powder coatings is a major trend in the market. They are used in a wide range of applications including the construction industry, medical, and textile sectors. Furthermore, these antimicrobial coatings help in preventing microbial growth on the surface of the finished product. New patented technologies are being introduced due to developments and innovations in the field of antimicrobial coatings. For example, Pison Steam Solutions received a U.S. utility patent from the United States Patent and Trademark Office (USPTO) for its innovation in the application of antimicrobial powder coatings which can effectively eliminate various pathogens. Hence, the increasing innovations are expected to drive market growth during the forecast period.

Significant challenges

Risk in raw material procurement of antimicrobial coatings is a significant challenge restricting market growth. The key factors are rising raw material prices, especially those of petroleum-based components such as silver, solvents, and resins. These have become a major concern for the suppliers in the market. In addition, fluctuations in crude oil prices have impacted raw material costs, impacting the overall market. Other factors contributing to commodity price volatility are economic uncertainties, government regulations, and supply bottlenecks. Hence, the increasing risk in raw material procurement is expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Antimicrobial Coatings Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the antimicrobial coatings market between 2023 and 2027.
• Precise estimation of the antimicrobial coatings market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the antimicrobial coatings market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of antimicrobial coatings market companies

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports

The antimicrobial medical textiles market is estimated to grow at a CAGR of 7.11% between 2022 and 2027. The size of the market is forecast to increase by USD 1,264.54 million. This report extensively covers market segmentation by product (non-woven, woven, and knitted), application (healthcare and hygiene products, non-implantable goods, and implantable goods), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing healthcare spending worldwide is notably driving the antimicrobial medical textiles market growth.

The coating resins market is estimated to grow at a CAGR of 5.97% between 2022 and 2027. The market size is forecast to increase by USD 18.22 billion. This report extensively covers market segmentation by type (acrylic coating resin, polyurethane coating resin, epoxy coating resin, alkyds coating resin, and vinyl and other coating resins), application (architecture coating, general industrial coating, automotive coating, high-performance coating, and other coatings) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing construction industry is a major factor notably driving the market growth.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio