Antimicrobial Coatings Market to grow at 10% CAGR till 2024 | Sherwin-Williams, AK Steel Corporation, Lonza, RPM International Inc., Troy Corporation, AkzoNobel, BASF, DuPont, The Dow Chemical Company, DSM
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U.S. antimicrobial coatings market size was estimated to be worth more than USD 640 million in 2015. Key benefits achieved through applications of antimicrobial coatings include control in growth of microorganisms like parasites, bacteria, and viruses which further leads to minimization of contamination.
Antimicrobial powder coatings are manufactured using ingredients like bronze, silver, titanium dioxide and copper. Most widely used ingredient is silver, being costlier than other ingredients, may impact the pricing trends and profit margins of manufacturers. Antimicrobial powder coatings market share accounted for over 42% of total market in 2015. It finds wide range of applications in sterilization equipment used in hospitals, shopping cart in retail outlets, escalators and elevators, kitchen ware, food processing equipment, refrigerators, steel storage cabinets, kitchen sinks and steel shelving. Widening consumption should drive the antimicrobial powder coatings market.
Even though there is increase in growth rate, continual growth is dependent on development of ecofriendly products and price trend. Key market players in paint industries are focused on expansion of current product portfolio with implementation of low VOC content products.
Growth in food industry in France, Germany and UK should drive the regional market growth. Europe antimicrobial coatings market is forecast to grow at over 7% and exceed revenue wise USD 1.4 billion by 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
4. The Dow Chemical Company
5. Diamond Vogel
6. Nippon Paint (Pakistan) (Pvt) Ltd
7. RPM International Inc.
10. Sono-Tek Corp.
11. Troy Corporation
12. AK Steel Corporation
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In the U.S., stringent regulations are imposed by regulatory bodies like FDA, to reduce infection risks in food industry, which require use of these coatings. Rise in applications in food, medical and indoor air quality should fuel the demand. Medical tourism market in India exceeded USD 2 billion in 2015. This is due to rise in demand for new technologies in health care devices should boost the growth of antimicrobial coatings market.
In Brazil, mold remediation applications growth rate is expected to exceed 9% by 2023. Regulatory policies regarding control of VOCs emissions coupled with growth of construction sector is anticipated to drive the antimicrobial coating market. Advancements in tourism industries of UAE, Saudi Arabia and Qatar resulted in infrastructural development for hotels should fuel the antimicrobial coatings market growth. Increase in consumption of antimicrobial surface coating product in paint industry should fuel the demand.
Worldwide antimicrobial coatings market is fragmented. Some of the prominent companies include BASF, AzkoNobel, royal DSM, DuPont, Dow Chemicals. Other key players include RPM, Nippon Paint, Sherwin-Williams, Arch Lonza, Troy and Sono-Tek. Regional small scale suppliers and producers also witness appreciable market share. Development of distribution channels to provide regional exposure through retailers, supermarket, convenience stores and online portals will fuel the growth.
Antimicrobial coatings market by product
• Antimicrobial powder coatings
• Surface modifications and coatings
• E. Coli
Antimicrobial coatings market by application
• Sanitary facilities and kitchen
• Air conditioning and ventilation systems
• Food processing and packaging
• Antimicrobial textile
• Mold remediation
• Other applications
Browse key industry insights spread across 130 pages with 90 market data tables & 12 figures & charts from the report, “Antimicrobial Coatings Market” in detail along with the table of contents:
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