Antimicrobial Coatings Market Is Expected To Incur Rapid Expansion In Revenue USD 8.43 Billion By 2025:Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a report by Grand View Research, Inc., the global antimicrobial coatings market is projected to reach USD 8.43 billion by 2025. Growing need for cleanliness at manufacturing facilities is anticipated to propel market growth over the forecast period (2014 to 2025). These coatings prevent growth of germs, parasites, bacteria, and unwanted microorganisms. Increasing cases of infections and rising health concerns attributed to effect of micro-organisms on humans are likely to impel application of coatings for humans.

Rising health concerns and rising cases of hospital-acquired infections are expected to positively influence growth of the market. Preference for antimicrobial coatings over powerful cleaning agents and disinfectants in hospitals, clinics, and other healthcare institutes can further drive market. Growing product demand to prevent growth of germs that can affect immune system among humans can also drive the market for antimicrobial coatings. Growing preference for implantable medical devices attributed to rising cases of cardiovascular disorders can boost market expansion in the forthcoming years.

However, strict regulations issued by the European Union (EU) and government of the United States (U.S.) can hamper growth of market. Manufacturing companies get their products approved and registered by the Environmental Protection Agency (EPA). Recently, the Food and Drug Administration (FDA) began to consider drug-device combinations as a separate regulation category. These devices meet efficacy and safety requirements. In addition, guidelines have also been established for urological devices with antimicrobial claims.

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U.S. powder antimicrobial coatings market volume, 2014 – 2025 (Kilo Tons)

The worldwide antimicrobial coatings market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into surface modifications and coatings, and antimicrobial powder coatings. In 2015, surface modifications and coatings segment dominated the market and accounted for 55.7% of global market share.

On the other hnd, increasing use of silver nanoparticles on medical devices to prevent bacterial growth and formation of biofilm can augment growth of antimicrobial powder coatings segment. These silver nanoparticles kill bacteria near the surface. Rising demand from healthcare application is anticipated to bode well for market growth during the forecast period.

Based on application, the market can be classified into sanitary facilities and kitchen, food processing and packaging, mold remediation, air conditioning and ventilation systems, antimicrobial textile, construction, and other applications. Other applications can include touch screens, insulation products, and switches. In 2015, air conditioning and ventilation systems dominated the market and accounted for 26.8% market share in terms of volume. Supportive initiatives and research activities taken by Council of Educational Facility Planners International (CEFPI) and Environmental Protection Agency (EPA) to educate students about air quality can influence growth of segment. Mold remediation segment is estimated to witness maximum CAGR of 11.1% during the forecast period. Overall costing involved to remediate mold-infected building can fluctuate in case the buildings have inferior coatings.

Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. In 2015, North America dominated the market and accounted for market share equivalent to 35% in terms of volume. The region is likely to expand at the highest CAGR of 11% from 2016 to 2025. Increasing healthcare investments in United States (U.S.) is expected to impel growth of market in the region. In addition, rising standard of living in the U.S. can also influence regional market growth. However, growth of major end-use sectors such as construction, medical, food in India and China are expected to create lucrative opportunities for market in Asia Pacific region.

Some of the leading companies operating in the antimicrobial coatings market are Arch Lonza, Diamond Vogel Paints, Dow Microbial Control, Nippon Paint Co. Ltd, and RPM International. The market is estimated to be concentrated in nature with three to four companies accounting for 40% of global demand in 2015. Itis oligopolistic in nature owing to presence of large companies holding major market share.

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Antimicrobial coatings market by applications, 2015

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