Future Growth of Antimicrobial Coatings Market Global Analysis by Key Players - BASF, AzkoNobel, royal DSM, DuPont, Dow Chemicals

The Antimicrobial Coatings market analytical summative by Market Study Report, LLC, is an exhaustive study of the current trends driving this vertical across assorted geographies. Significant details pertaining to the market share, market size, application, statistics, and revenue are summed up in the research study. Also, this study undertakes a thorough competitive analysis of the business outlook, particularly emphasizing growth strategies espoused by market majors.

Antimicrobial Coatings Market size is poised to cross USD 7 billion by 2024; according to a new research report by Global Market Insights, Inc.

Rising concern about prevention of contamination risk in medical equipment should fuel the antimicrobial coatings market growth. Increasing rate of infections through medical instruments in hospitals has led to pretreat these medical devices. Currently, more than 90% of the hospital instruments are treated prior to use to prevent hospital acquired infections (HAI). Growth in medical expenditure coupled with advancement in health improving devices should boost the antimicrobial coatings market demand.

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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.

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.

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.

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