How Transformative Trends in Antimicrobial Powder Coating Market are Molding Strategies of AkzoNobel NV, Diamond Vogel Paints, Nippon Paint Co. Ltd., RPM International….?
Antimicrobial powder coating is mainly applied on products which frequently come in human contact to protect against infections and diseases. Major end user industries for antimicrobial powder coating include food, healthcare, furniture, textile, construction and electronics among several others. Indoor air quality applications dominate the global demand for antimicrobial coatings and the trend is expected to continue during the forecast period. Construction industry is also expected to be among the most lucrative application segment in the near future.
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Increasing air pollution leading to several health hazards has been a major factor driving demand for antimicrobial powder coatings. Owing to growing awareness and concern over these air pollution related issues, indoor air quality is expected to be the fastest growing application segment during the forecast period. High bio-compatibility and several environmental benefits such as absence of VOC (Volatile Organic Compound) are among major factors driving demand for antimicrobial powder coating. Demand for antimicrobial powder coating for healthcare application is anticipated to surge in the near future primarily owing to increased research and development in the application segment. Moreover, food and healthcare are among major end user segment for antimicrobial powder coating hence, the industry is characterized by presence of stringent government regulations. Increasing number of regulations in the industry has been a major factor restraining growth of antimicrobial powder coating market. Growth in construction activities is among other major factors driving demand for antimicrobial coatings. Increasing research and development activities is expected to offer huge growth opportunity in the market.
North America dominates the global demand for antimicrobial powder coatings and the trend is anticipated to continue during the forecast period. North America is also anticipated to be the fastest growing region for antimicrobial powder coating market. Increasing demand for healthcare and food preserving applications are expected to drive market growth in North America. Demand for antimicrobial coatings is profoundly dependent on the demand for various consumer goods such as sanitary, tableware and storage bins among several others. Hence growing disposable income and GDP growth rate are among major growth determinants for market growth. Therefore, emerging economies such as India, China and Brazil are anticipated to offer huge growth opportunity for market growth during the forecast period.
Antimicrobial powder coating market is driven by innovation and major players compete by increasing their research and development activities to meet the dynamic demand of end consumers. The market is moderately concentrated and is characterized by high degree of competition. Major players in the antimicrobial powder coating market include AkzoNobel NV, Diamond Vogel Paints, Nippon Paint Co. Ltd., RPM International, PPG Industries Inc., Sono-Tek Corporation, Sherwin-Williams Company, Dow Microbial Control and Royal DSM N.V. among others.
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