According to the market research firm P&S Intelligence, the antimicrobial coatings market generated around $3.6 billion revenue in 2020 and is predicted to exhibit huge expansion by 2030. The burgeoning requirement for antimicrobial coatings in various industries, on account of the growing public awareness of the importance of hygiene and safety, and the enactment of strict regulations regarding hygiene maintenance are the major factors fueling the demand for antimicrobial coatings.
With the outbreak of the COVID-19 pandemic, many healthcare settings and hospitals started focusing heavily on mitigating the spread of infections. This subsequently pushed up the demand for antimicrobial coatings, as these coatings make the disinfection process easier and do not have to undergo harsh sterilization. Additionally, the governments of many countries have launched plans for minimizing the spread of healthcare-associated infections (HAIs), thereby facilitating the growth of the antimicrobial coatings market.
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Depending on product, the antimicrobial coatings market is categorized into surface modifiers and powder. Between these, the powder category dominated the market in 2020. This was mainly because of the ability of the product to modify the surface chemistry of a material by introducing various chemical, biological, and physical properties that are different from the ones found in the surface originally.
Based on application, the antimicrobial coatings market is divided into food & beverage, heating, ventilation, and air conditioning (HVAC) systems, building & construction, protective clothing, medical & healthcare, and transportation. Out of these, the medical & healthcare category dominated the market in 2020. This is credited to the increasing concerns being raised over HAIs and their impact on human wellbeing and health. As a result, many initiatives such as the HAI Action Plan, have been launched for preventing the occurrence of HAIs in acute-care settings.
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Geographically, North America dominated the antimicrobial coatings market in 2020. This is primarily credited to the enactment of the Affordable Healthcare Act, which promotes the development of medical centers in the U.S. Additionally, HVAC companies in the region are using antimicrobial coatings on the interior surfaces of their systems for preventing the growth of fungi and bacteria.
The players operating in the antimicrobial coatings market are focusing on product launches for gaining a competitive edge. For example, Nano-Care AG completed the acquisition of Liquid Guard, which produces an ultrathin layer of antimicrobial coatings that prevent the growth of mold and bacteria and control odors, in May 2019.
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Some of the major global antimicrobial coatings market players are Nippon Paint Co. Ltd., AkzoNobel N.V., Burke Industrial Coatings LLC, PPG Industries Inc., The Sherwin-Williams Company, Trop Corporation, Diamond Vogel Paint Company, and Sono-Tek Corporation.
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