June 05, 2020
According to the research report titled ‘Antimicrobial Coatings Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, global antimicrobial coatings market is expected to show tremendous growth by the year 2026.
The report cites that antimicrobial coatings have applications in the high revenue, high demand industries which is adding impetus to product demand across the globe. These coatings are used to prevent growth and spread of germs and bacteria on several surfaces.
The textiles or hard, metallic surfaces are coated with ink, polyurethane, paint, powder coatings, latex, lacquer to produce goods with novel properties and features. Although, even after coating them with these substances they are susceptible to the growth of bacteria, algae, or fungus on them.
Microbial attack can have considerable impact on coatings by developing bacterial or fungal odors, damaging their basis properties, and staining. These harms can be avoided by using antimicrobial coatings on these substances. These coatings help in increasing the lifespan of the products and eliminate stains and odors.
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Based on the product, the antimicrobial coatings market is divided into power coatings and surface coatings and modifications. These two segments are further divided into copper, silver and others, and pseudomonas, E. Coli, listeria and others respectively.
The antimicrobial power coatings market from others segment is expected to witness tremendous growth driven by surging demand for cost-effective and high performance solutions.
For the surface modifications and coatings market, the others segment is projected to record considerable growth and is anticipated to surpass a valuation of USD 240 million through 2026. Rising investment and increase in demand for the antimicrobial coating to reduce surface contamination due to COVID-19 is aiding the growth of others segment, cites the study.
Speaking of the application ambit, the industry is classified into medical/healthcare, textiles, construction, food industries, indoor air quality, mold remediation, electronics, and others.
The Automobile sector deploys antimicrobial coatings across a plethora of applications such as maintaining vehicle interiors, plastic coverings, metallic parts, cleaning leather, and maintaining hygiene. The coating helps to keep the interior fresh and contain the bad odors.
In terms of regional hierarchy, the MEA region is known to register high demand of the antimicrobial coatings and is expected to grow with a CAGR of 9.5% over the next few years. The demand can be credited to the growing public construction and renovations projects in these regions. The market in Latin American region is expected to surpass the valuation of USD 290 million by the year 2026.
The key players for the global antimicrobial market are, AK Steel, Lonza Diamond Vogel Paints, DuPont, Nippon Paint Co. Ltd, Akzo Nobel N.V., BASF, RPM International Inc., Sherwin-Williams Company, Sono-Tek Corporation, Koninklijke DSM N.V., Troy Corporation, and others.