Antimicrobial Coatings Market Industry Leaders: 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.)

The antimicrobial coatings market is projected to reach USD 4.19 billion by 2021, at a CAGR of 12.1% from 2016 to 2021. With the increased penetration of antimicrobial coatings in end-user industries in North America and Europe, it is anticipated that the market will register slightly higher growth than the markets in the Asia Pacific region, Middle East & Africa and South America, during the forecast period.

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Antimicrobial coatings comprise active ingredients which possess excellent activity against bacteria, fungi, molds, and other microbes. These coatings are available in various resin platforms such as epoxy, PVDF, acrylic, polyester, and other resins. Antimicrobial coatings prevent the spread of infections or diseases when applied to target surfaces. Mergers & acquisitions is the key strategy adopted by the major players to achieve growth in the global antimicrobial coatings market between 2013 and 2016. These strategies accounted for the highest share among all the strategies adopted between 2013 and 2016.

The leading players in the global antimicrobial coatings market include, 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. Besides mergers & acquisitions, companies also adopted investments & expansions as a key strategy to enhance their market shares and cater to customers efficiently.

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AkzoNobel N.V. (Netherlands) is strengthening its performance coatings business by the intended acquisition of BASF SE’s industrial coatings business in February 2016. By this acquisition, AkzoNobel N.V. would enhance its market share in the global antimicrobial coatings market. This acquisition would include the technologies, trademarks, patents, and securing of the supply agreements with customers at the global level. The company also expanded its performance coatings plant in Indonesia to meet the growing demand in the Asia Pacific region. This expansion would increase its capacity by 40% for its marine and protective coatings segment.

In November 2016, Axalta Coating Systems (U.S.) announced the establishment of the coating manufacturing and logistics facility for high-performance automobiles, commercial vehicles, and industrial coatings in Nanjing, China. As China is a major supplier of raw materials at the lowest prices, the total cost of production for Axalta Coating Systems would reduce. Thus, this move would help enhance its market share globally, as it would enable the company to offer its products at competitive prices.
The company is capitalizing on its strong research & development capabilities and investments to broaden its antimicrobial coatings business. The company focuses on growth opportunities not only in the existing key markets, such as North America and Europe, but also in the emerging economies of the Asia-Pacific region and South America. The company intends to create a strong consumer base in the existing markets and then extend the reach in untapped markets.

The increasing demand in the medical and indoor air applications is expected to drive the antimicrobial coatings market. Advantages offered by antimicrobial coatings in these applications are gaining greater awareness, and these are also supported by healthcare related regulations which require the use of antimicrobial coatings.

Silver is the largest and fastest growing product type of antimicrobial coatings. High operational flexibility and efficiency are the major attributes of silver, which makes it popular among manufacturers. In addition, in the nanoparticle form, silver can be used to coat medical devices, which helps reduce microbe adhesion and the infections associated with it. Silver deactivates the enzymes which stall metabolic processes and hence the growth of organisms in the respiratory metabolic pathway.

The North American region is the largest and fastest-growing market for antimicrobial coatings, followed by Europe. The high demand in the North American region is attributed to the growth in demand from the medical and indoor air / HVAC application in the U.S. The European region is projected to register slower growth as compared to the North American region during the forecast period.

Market players are expected to employ organic and inorganic growth strategies such as regional expansions, new product developments, mergers & acquisitions and joint-ventures to expand their overall businesses worldwide. The key companies operating in the antimicrobial coatings market are striving to provide innovative products through research & development and collaborating with technology providers. They are also focusing on strengthening the research & development facilities to provide cost-effective product grades. These developments are expected to lead to the sustainable growth of the global antimicrobial coatings market in the future.

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 are the key companies in the antimicrobial coatings market.

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