Antimicrobial coatings are thin film coatings that prevent microbial growth on surfaces by inhibiting or killing microorganisms such as bacteria, viruses, mold and mildew. They are widely used in hospitals, manufacturing facilities, food processing units and households to reduce infections caused due to microbes.
The global Antimicrobial Coatings Market is estimated to be valued at US$ 4.65 Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the antimicrobial coatings market is the rising awareness about health, hygiene and safety. The COVID-19 pandemic has considerably increased focus on cleanliness and disinfection worldwide. Several industries are actively deploying antimicrobial surfaces and coatings to curb the spread of viruses and bacteria. Growing concerns regarding Hospital Acquired Infections (HAIs) and increasing prevalence of diseases have boosted demand for antimicrobial coatings from the healthcare industry. Their self-sanitizing property helps improve indoor air quality and surface hygiene.
SWOT Analysis
- Strength: Antimicrobial coatings help prevent the growth and spread of microorganisms like bacteria, viruses, mold and mildew. This provides improved hygiene and public health.
- Weakness: High material and coating costs make antimicrobial coatings more expensive than conventional coatings. Strict regulations
- surrounding the use of antibacterial chemicals can limit the market.
- Opportunity: Growing demand from the healthcare industry due to increased hygiene standards post-COVID. Increase in building and construction projects worldwide offers new areas for application.
- Threats: Availability of cheaper alternatives like disinfectants and easy cleanability claims by other coating types. Stringent regulations and limitations on types of antimicrobial chemicals used.Key Takeaways
The global antimicrobial coatings market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing awareness regarding health, safety and hygiene. The COVID-19 pandemic has further propelled the use of antimicrobial coatings in various end-use industries to curb the spread of viruses and bacteria.
Regional analysis: North America dominated the market in 2023, accounting for around 30% of global revenue, due to stringent health regulations and pandemic preparedness initiatives in the region. Asia Pacific is expected to be the fastest growing market, driven by increasing construction activities, rising healthcare expenditure, and supportive government policies in countries like China and India.
Key players operating in the antimicrobial coatings market are AkzoNobel Coatings Inc., BASF, RPM International, Dow Chemicals, PPG Industries, Diamond Vogel, RPM International Inc., PPG Industries Inc., Royal DSM, and Sherwin-Williams Company. These players are focusing on new product launches and capacity expansion to gain competitive advantage and meet the growing demand in global construction and healthcare sectors. For instance, in 2022, AkzoNobel announced investment plans in biomaterial coatings for medical devices to gain leadership in this segment.
