|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The anti-microbial coatings market was valued at over USD 3 billion in 2020, and the market is projected to register a CAGR of over 10% during the forecast period (2021-2026).
The market was positively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the usage of anti-microbial coatings in medical products and devices, including surgical masks, gloves, wound dressings, hospital textiles, and surgical devices, has been significantly increasing to curb the growth of new COVID-19 cases. According to Wall Street Journal, the total production volume of N95 masks in the United States was about 45 million in January 2020 and reached about 180 million till the end of 2020, witnessing an exponential growth of about 300%, which, in turn, has stimulated the demand in the anti-microbial coatings market.
- Over the short term, increasing adoption of anti-microbial coatings in medical devices, gloves, face masks, and other healthcare industry equipment and products is expected to drive the market's growth.
- Silver coatings dominated the global market and are expected to grow during the forecast period, owing to the growing application of anti-microbial coatings, especially in the medical industry.
- On the flip side, lack of technological awareness regarding anti-microbial coatings in developing and under-developed nations and volatility in raw material prices are expected to hinder the growth of the studied market.
- North America dominated the market across the world, with the largest consumption from the countries, such as the United States and Canada.
Scope of the Report
The anti-microbial coating is used to stop the growth of microbes. There are two types of anti-microbial coatings, including active and passive anti-microbial coatings. Active anti-microbial coatings release antibacterial agents, including bioactive molecules and antibiotics, and passive anti-microbial coatings resist bacterial attachment by killing the bacteria after the contact. They find its major application in the healthcare industry for surface coating of medical devices and equipment. The anti-microbial coatings market is segmented by material, application, and geography. By material, the market is segmented into silver, copper, polymeric, organic, and other materials. By application, the market is segmented into building and construction, food processing, textiles, home appliances, healthcare, marine, and other applications. The report also covers the market size of and forecasts for the anti-microbial coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Building and Construction|
Key Market Trends
Healthcare Segment to Dominate the Market
- Healthcare is one of the major industries with maximum usage of smart anti-microbial coatings. These coatings are used majorly on surgical devices as they help in inhibiting the spread of germs and bacteria among patients, doctors, and caretakers. AMCs contain active ingredients that inhibit microorganisms’ ability to grow on a surface. This helps to form a toxic or non-toxic barrier for detrimental microorganisms.
- Anti-microbial coatings are being customized to form a toxic or non-toxic barrier for detrimental microorganisms. This increases the widespread adoption of anti-microbial agents in medical applications. Moreover, the triggering mechanism in anti-microbial coatings can be exploited to develop efficient drug-delivery systems to turn on specific functionality.
- In the healthcare industry, anti-microbial coatings are also used for surgical masks, gloves, bandages, wound dressing, and hospital textiles (woven and non-woven), among others. Among the previously mentioned applications, medical materials have a maximum usage of anti-microbial coatings.
- The regions, such as North America and Europe, hold the largest market demand for anti-microbial coatings for healthcare applications. These regions incur huge research and development investments and make continuous efforts to develop advanced medical devices and equipment.
- The United States has the largest share in the global healthcare market, and the rapid growth of the medical industry in the nation is expected to augment the demand for anti-microbial coatings.
- The European healthcare industry was valued at about USD 102 billion in 2019 and is estimated to reach about USD 119 billion by 2024, with a CAGR of about 3%, which is likely to enhance the demand in the anti-microbial coatings market.
- Furthermore, the Indian health care market was valued at about USD 280 billion in 2020 and is estimated to reach about USD 372 billion by 2022, with a CAGR of about 6%, which, in turn, is likely to stimulate the demand for the market studied over the projected timespan.
- Owing to the pandemic condition, there has been a rising focus on developing new measures to contain the spread of the pandemic. Several companies were using anti-microbial coatings in medical masks and gloves to curb the growth of new COVID-19 cases. As of February 2020, the daily production volume of medical face masks, including surgical and N95, was 14,806 in China and reached about 450,000 numbers as of April 2020, with a huge growth rate in daily production volume enhancing the demand for the anti-microbial coatings market.
- Therefore, the aforementioned factors are expected to show a significant impact on the market in the coming years.
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North America Region to Dominate the Market
- The North American region dominated the global market share. Continuous innovation in the healthcare industry and increasing production of processed food have been majorly driving the region's growth.
- Among the North American countries, the United States has a high demand for anti-microbial coatings, as it is one most affected countries by COVID-19. The majority of the demand is from the construction and healthcare industries. As of March 2021, there were around 28,659,480 confirmed cases in the country. Canada and Mexico have also witnessed a major negative impact because of the pandemic. As of March 2021, Canada and Mexico witnessed around 884,086 and 2,125,866 confirmed cases, respectively.
- The United States has one of the most robust healthcare systems across the world. There has been a surge in healthcare investment in the country, owing to the COVID-19 outbreak. This expenditure is expected to grow in the coming days, as the country is looking for ways to reduce contamination in hospitals. This is a major driver for the US market studied.
- The United States stands to be the largest medical device market in the world, with the strongest and most advanced research and development medical facilities boosting the growth of the market.
- The preference for anti-microbial coated medical equipment in the United States is increasing due to the various initiatives taken by the government as well as the hospitals in the country to prevent nosocomial infections.
- In 2019, the total value of new healthcare construction put in place was about USD 45.56 billion in the United States and reached about USD 47.57 billion in 2020, with a growth rate of about 4.5%, thus led to an increase in the demand for medical devices and equipment, which, in turn, has increased the demand of the anti-microbial coatings market.
- The demand for medical devices and products has been increasing in the country due to the rising old population as well as an increase in the number of patients with chronic diseases such as cardiovascular and diabetes. With this, the hospitals must take excessive care related to hygiene and infection control measures, which is further increasing the demand and application of anti-microbial coatings in the healthcare industry.
- The United States health expenditure was valued at USD 3.8 trillion in 2020, with a growth rate of about 4.6% compared to the previous year, which, in turn, has stimulated the market studied.
- There is also an increase in the application of anti-microbial coatings in public and high-traffic areas to inhibit the spread of pathogens that can cause diseases, which is further adding to the demand for anti-microbial coatings in the country.
- As of early October 2020, Canada's COVID-19 pandemic-related health funding was amounted to about USD 29 billion as announced by federal, provincial, and territorial levels of government, which, in turn, is likely to boost the market demand.
- Therefore, the aforementioned factors are expected to show a significant impact on the market in the coming years.
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The anti-microbial coatings market is a fragmented market, with numerous players holding a small share of market demand. Some of these major players include Akzo Nobel NV, BASF SE, The Sherwin-Williams Company, PPG Industries Inc., and Lonza.
- In November 2020, PPG Industries, Inc. announced that its brand JOHNSTONE had launched anti-bacterial matt paint, which is designed to restrict bacterial growth on house walls, which, in turn, expands the company's product portfolio.
- In May 2020, Akzo Nobel NV developed the enhanced Interpon D AM, a powder coating for the architectural segment, which can be used on a variety of internal surfaces, such as window frames, ceiling tiles, metal office partitions, metal doors, and elevator doors, thus expanding the company's product portfolio.
- In April 2020, BIO-FENCE developed innovative antimicrobial coating technology for use against bacteria and viruses. This exclusive solution is offered for protecting public areas against the coronavirus.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Adoption of Antimicrobial Coatings in the Healthcare Industry
4.1.2 Increasing Demand for Germ Resistant Durable Goods
4.2.1 Lack of Technological Awareness in Developing and Under-developed Nations
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Raw Material Analysis
5. MARKET SEGMENTATION
5.1.5 Other Materials
5.2.1 Building and Construction
5.2.2 Food Processing
5.2.4 Home Appliances
5.2.7 Other Applications
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AK Steel Corporation
6.4.2 Akzo Nobel NV
6.4.3 AST Products Inc.
6.4.4 BASF SE
6.4.6 Biointeractions Ltd
6.4.7 Covalon Technologies Ltd
6.4.12 Mankiewicz Gebr. & Co. (GmbH & Co. KG)
6.4.13 PPG Industries Inc.
6.4.14 RPM International Inc.
6.4.15 Sciessent LLC
6.4.16 Sono-Tek Corporation
6.4.17 Specialty Coating Systems Inc.
6.4.18 The Sherwin-Williams Company
6.4.19 Troy Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Research and Development Activities
7.2 Development of Multi-functional Coatings
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Frequently Asked Questions
What is the study period of this market?
The Anti-microbial Coatings Market market is studied from 2016 - 2026.
What is the growth rate of Anti-microbial Coatings Market?
The Anti-microbial Coatings Market is growing at a CAGR of >10% over the next 5 years.
What is Anti-microbial Coatings Market size in 2016?
The Anti-microbial Coatings Market is valued at 3 Billion USD in 2016.
Which region has highest growth rate in Anti-microbial Coatings Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Anti-microbial Coatings Market?
North America holds highest share in 2020.
Who are the key players in Anti-microbial Coatings Market?
Akzo Nobel N.V., BASF SE, The Sherwin-Williams Company, PPG Industries, Inc., Lonza are the major companies operating in Anti-microbial Coatings Market.