Westford, USA, Aug. 09, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Antimicrobial Coatings Market will reach a value of USD 9.83 Billion by 2031, with a CAGR of 10.20% during the forecast period (2024-2031). Antimicrobial coatings hold extensive applications in various sectors. They are also widely used in nanotechnology, in addition to medical tools, in the making of eco-friendly and non-toxic coatings, and key use in certain applications. These applications include air filters, self-cleaning surfaces, and touchscreens. Among many, antimicrobial coatings are prominent and vital application in healthcare since they also help reduce the risk and spread of most germs and microbes.
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Browse in-depth TOC on the "Antimicrobial Coatings Market"
Pages – 184
Tables – 59
Figures – 75
Antimicrobial Coatings Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 4.52 Billion |
| Estimated Value by 2031 | USD 9.83 Billion |
| Growth Rate | Poised to grow at a CAGR of 10.20% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Use in New Applications like Electronic Products and Protective Clothing |
| Key Market Drivers | Growing Demand in Different Industries like Healthcare, Food & Beverage, and more. |
High Efficiency Against Several Microorganisms, Bacteria, and Viruses
By type, the silver segment dominated the market and will lead over the forecast period since these coatings are highly efficient against multiple bacteria, viruses and other microorganisms. Moreover, several upgrades in technology and efforts made by producers to add silver antimicrobial coatings in medical tools and instruments are considerably supporting the market growth. On the other hand, copper segment to be the fastest-growing segment due to expanding use in applications in public transport, hospitals, food industry. Copper holds outstanding characteristics and is highly effective against most viruses and bacteria. They are also used in water treatment systems to improve water quality.
Medical and Healthcare Segment to Lead Owing to Increased Need to Minimize HAIs
By application, medical and healthcare segment led the market in the past years and is expected to continue dominance over the forecast period owing to growing concern for increasing HAIs (hospital acquired infections). These infections mainly happen due to catheters, surgical instruments, and other tools. Hence, governments are enforcing initiatives for optimal safety in most developed and developing economies, thereby propelling the market. Conversely, HVAC systems segment is the fastest-growing owing to mounting need for better quality of air in indoor surroundings. Rising awareness for the significant of air quality and amplifying use of HVAC in residential and commercial is also fueling the segment growth.
Growing Number of Construction Projects in North America to Help the Region Grow Impressively
Geographically, North America led the market significantly supported by rising demand for construction projects like schools, hospitals, colleges over the estimated period. Moreover, ever-increasing population will further impact the market growth owing to the need for more construction activities. Also, United States recently adopted affordable Healthcare Act in the United States, which stimulated the building of healthcare hospitals and more such settings.
Asia Pacific is predicted to be the fastest growing segment due to large manufacturing base in key countries like Japan, China, and India along with expanding packaged foods and e-commerce domains. Moreover, favorable policies including FDI, ‘Make in India’ will offer lucrative opportunities for medical and food industry. This will eventually impact the market growth in the region.
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Antimicrobial Coatings Market Insight
Drivers:
- Growing Awareness of Cleanliness in Most Industries
- Government initiatives for Preventing Spread of Diseases
- Expanded Use of Medical Devices Due to Mounting Number of Illnesses
Restraints:
- Growing Concern about Nanoparticle Toxicity
- Increased Release of Active Emissions in Surroundings
- Growing Health Concerns Associated with Silver Usage
Prominent Players in Antimicrobial Coatings Market
The following are the Top Antimicrobial Coatings Companies:
- AkzoNobel N.V.
- Axalta Coating Systems LLC
- BASF SE
- Carboline Company
- Diamond Vogel
- DowDuPont Inc.
- Drywood Coatings BV
- Hempel A/S
- Kansai Paint Co. Ltd.
- Lonza Group AG
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Key Questions Answered in Global Antimicrobial Coatings Market Report
- What is the current market size of Global Antimicrobial Coatings Market?
- What are the major market drivers in the Antimicrobial Coatings Market?
- Which region will lead the Antimicrobial Coatings Market over the estimated period?
This report provides the following insights:
- Analysis of key drivers (rising demand in medical industry, increased use in construction sector, benefits like durability and prevention of corrosion), restraints (emission of active elements, increasing risk to oceanic animals, high prices of raw materials), opportunities (use of antimicrobial coatings in place of stimulated bio-corrosion, advancement in technology, growth of construction sector), and challenges (lack of skilled workforce, health issues due to use of silver as biocide, price fluctuations of raw materials) influencing the growth of antimicrobial coatings market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the antimicrobial coatings market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the antimicrobial coatings market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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