Rockville, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Antimicrobial Coating Market revenues were estimated at US$ 3.4 Bn in 2021 and is anticipated to grow at a CAGR of 12.9% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 12.5 Bn.
The key factors propelling the Antimicrobial Coating demand are increased healthcare-associated infections (HCAI) and a rise in the number of microbes. According to the European Center for Disease Prevention and Control, 37,000 people die as a result of healthcare-associated infections (HCAI), which affect more than 4 million people annually. The global healthcare industry faces a huge problem in battling illnesses related to healthcare. HCAI infections are the sixth most common cause of death in Western nations. It is far worse in developing nations.
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The key application for end use of antimicrobial coating includes Medical Devices where the rise is seen due to rising healthcare-related dangers, rise in healthcare-associated infections, and support from government entities.
Key Takeaways from the Study
• Antimicrobial Coating Market was valued at US$ 3.4 Bn in 2021. According to Fact.MR, Antimicrobial Coating Market revenue would increase 3.7X between 2022 and 2032, reaching roughly US$ 12.5 Bn in 2032.
• Revenue through Medical Devices is projected to account for the highest projected CAGR of over 14.4%.
• In terms of region, North America accounted for the largest market, which grew at a CAGR of 9.7% during2017 – 2021.
• US is the dominant country in Antimicrobial Coating Market with an absolute dollar growth opportunity of US$ 3 Bn.
Some of the recent developments in the Antimicrobial Coatings Market are:
• In April 2022, the inclusion of Specialty Coating Systems (Vietnam) Co. Ltd. was announced by Specialty Coating Systems, Inc. The ISO 9001:2015-certified plant serves clients in the aerospace, medical device, consumer industrial electronics, transportation, and industries with conformal coating services. The company will benefit from increased business and goodwill in Vietnam as a result of this growth.
• In November 2021, DuPont entered into a binding agreement to pay US$ 5.2 Bn to buy Rogers Corporation. As a global multi-industrial firm focused on market-leading, high-growth, high-margin industries with complementary technological and financial traits. DuPont recently announced a number of initiatives that advance its strategy. DuPont will be able to grow its business with the assistance of Rogers Corporation owing to this breakthrough.
• In April 2020, for Personal Protective Equipment (PPE) like face masks, the Indian Institute of Technology has created spray-based antimicrobial coatings that will destroy over 99.9% of germs and viruses. To combat COVID-19, an IIT-Madras business designed clothes containing antibacterial substances in April 2020.
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Key Companies Covered
- AkzoNobel N.V.
- Nippon Paint Co. Ltd
- PPG Industries, Inc
- RPM International
- The Sherwin Williams Company
- Lonza
- DuPont
- RPM International Inc
- Burke Industrial Coatings
- Troy Corporation
Segmentation of Antimicrobial Coatings Research
- By Type
- Silver
- Copper
- Titanium Dioxide
- By Application
- Medical Devices
- Indoor Air Quality
- Construction
- Other Application
- By Region
- North America
- Latin America
- Europe
- APAC
- MEA
Key Questions Covered in the Antimicrobial Coatings Market Report
- What is the projected value of the Antimicrobial Coatings Market in 2023?
- At what rate will the global Antimicrobial Coatings Market grow until 2033?
- Which are the factors hampering the growth in the Antimicrobial Coatings Market?
- Which region is expected to lead in the global Antimicrobial Coatings Market during 2023 to 2033?
- Which are the factors driving the Antimicrobial Coatings Market during the forecast period?
- What is the expected market value of the Antimicrobial Coatings Market during the forecast period?
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Antimicrobial Coating Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Antimicrobial Coating Market in terms of by Type (Silver, Copper, Titanium Dioxide), by Application (Medical Devices, Indoor Air Quality, Construction and Other Applications), and In terms of Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Bio-based Coatings Market: The global bio-based coating market stands at USD 11.5 Billion in the year 2022. This market is growing with a CAGR value of 9.5% in the forecast duration.
Architectural Coatings Market: The architectural coatings market accumulated a market value of US$ 77,888 Mn in 2021 and is expected to register a positive CAGR of 4.52% in the assessment period.
Metal Packaging Coatings Market: The global metal packaging coatings market is poised to embark on a positive growth trajectory, registering a CAGR of ~5% across the forecast period (2020-2030).
Automotive Coatings Market: Sales of automotive coatings amounted to US$ 16.3 Billion in FY 2021, and is forecast to experience a year-over-year expansion rate of 4.3% in 2022, reaching US$ 17 Billion.
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