Antimicrobial Coatings Market is projected to reach US$ 7,514.56 million by 2028

The scope of our recent study on the "Antimicrobial Coatings Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Raw Material (Silver, Copper, Titanium Dioxide, and Others); and Application (Medical, HVAC, Mold Remediation, Building and Construction, Foods and Beverages, and Others)" includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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The antimicrobial coatings market was valued at US$ 2,918.30 million in 2019 and is projected to reach US$ 7,514.56 million by 2028; it is expected to grow at a CAGR of 11.2% from 2020 to 2028.

Antimicrobial coatings are commonly used on the surface of doors, counters, door handles, and other high-touch areas such as mechanical and HVAC vents. They are also sprayed on gloves, masks, carpeting, and textiles on occasion. Paint manufacturers use antimicrobial coatings in their primer products and wall paint to limit pathogen development in facilities. Factors such as the increasing health care associated infections and rising use of antimicrobial coatings in healthcare setting for sterilization of medical devices propel the demand for antimicrobial coatings. The healthcare industry is expected to witness monumental transformation owing to the factors such as rapidly growing urbanization, rising instance of infectious diseases, and shifting lifestyle of consumers.

Antimicrobial Coatings Market: Segmental Overview

Based on raw materials, the antimicrobial coatings market is segmented into silver, copper, titanium oxide, and others. In 2019, the silver segment held the largest market share. Silver has the most effective antimicrobial activity while being the least toxic to animal cells. Silver ions are produced when silver is added to water. These ions destroy and prevent biological growth, interfering with germ metabolism and membrane functions.

Further, silver biocides can be found in hospital water systems, catheters, furniture, and almost in the operation theatre. Furthermore, in the late 1800s, silver nitrate was used to treat many eye infections in new-born infants, and physicians discovered that silver dressings helped wounds heal faster. The metal was used in surgical wound sutures and ulcer remedies, and it is still used today, with silver-embedded bandages proving to be especially effective in healing burn wounds. Silver's high effectiveness, low toxicity, long-lasting impact, and durability are among the major factors driving its demand. The market growth for the silver segment is attributed to the rising demand from the medical & healthcare, food & beverage, and other industrial applications to ensure occupational safety and hygiene, and to prevent the growth of novel coronavirus that causes COVID-19, bacteria, and other microbes on commonly touched surfaces.

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The global antimicrobial coatings market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America (SAM). In 2019, North America contributed to the largest share in the global market. In the region, the US is a major market for antimicrobial coatings, followed by Canada and Mexico. The growth of the market in North America is attributed to the strong presence of several domestic and foreign players, and ongoing investments in the advancement of the healthcare sector across the US and Canada. In addition, the continuously rising number of COVID-19 patients also drives the market growth.

Impact of COVID-19 Pandemic on Antimicrobial Coatings Market

The COVID-19 pandemic has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are adversely affecting the business collaborations and partnerships opportunities. All these factors are hindering the chemical and materials industry and thus act as restraining factors for the growth of various markets related to this industry. The market for antimicrobial coating is impacted by the pandemic due to shortfall in production along with limited transportation facilities.

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