The antimicrobial powder coatings market is projected to register a CAGR of 12.0%, in terms of value, between 2020 and 2025
The antimicrobial powder coatings market is projected to register a CAGR of 12.0%, in terms of value, between 2020 and 2025.
NEW YORK, Sept. 25, 2020 /PRNewswire/ --
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The antimicrobial powder coatings market is projected to grow from USD 1.5 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 12.0%, between 2020 and 2025. The market is majorly driven by increased demand from the medical & healthcare industry. This is mainly attributed to the growing awareness and government initiatives to prevent the spread of HAIs. As a precautionary measure, several medical device manufacturers and healthcare facilities have started applying antimicrobial powder coatings on their product.
The silver additive type segment is expected to hold the largest share of the overall antimicrobial powder coatings market during the forecast period.
The silver additive type segment accounted for the largest share of the overall antimicrobial powder coatings market in 2019. Silver-based antimicrobial powder coatings have high efficacy against viruses, bacteria, and other eukaryotic micro-organisms, owing to which they are widely used across the industrial sector, especially in the medical & healthcare, food & beverage, and HVAC system industries.
The antimicrobial powder coatings market in the medical & healthcare end-use industry is expected to hold the largest share during the forecast period.
The medical & healthcare industry accounted for the largest share, in terms of value, of the antimicrobial powder coatings market in 2019.While antimicrobial powder coating is growing in several sectors, including air conditioning, ventilation, and food, the healthcare segment is rapidly dominating the market.
This is due to the widespread use and applications for powder coatings in healthcare facilities and environments. Antimicrobial powder coatings can be applied on the surfaces of wood, plastics, and metals, among other substrates, and have high durability and long-lasting effect, owing to which these coatings are mainly preferred in the medical & healthcare industry.
APAC antimicrobial powder coatings market is estimated to register the highest CAGR during the forecast period.
Countries, such as China and India, are rapidly expanding their healthcare infrastructure, and thereby an increase in demand for medical equipment is seen in these countries, while emerging Southeast Asian nations, such as Vietnam and the Philippines, hold significant growth potential. Thus, the market is spurred by a rapid expansion of the healthcare sector, eventually boosting the antimicrobial powder coatings market in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the antimicrobial powder coatings market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.
• By Company Type: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
• By Designation: C Level – 35%, D Level – 25%, and Others – 40%
• By Region: Europe – 42%, North America – 24%, APAC – 21%, South America- 6%, and the Middle East & Africa – 7%
The key companies profiled in this report are the PPG Industries, Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), Axalta Coating Systems LLC (US), Berger Paints India Ltd (India).
Research Coverage:
This report provides detailed segmentation of the antimicrobial powder coatings market based on additive type, end-use industry, and region.With respect to additive type, the antimicrobial powder coatings market has been segmented into silver, zinc, and copper & others.
Based on end-use industry, the market has been segmented into medical & healthcare, HVAC, appliances, food equipment, general industry, transportation, fitness equipment, steel furniture, and others. Based on the region, the market has been segmented into the Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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