Antimicrobial Coatings Market Size, Revenue, Growth Opportunities, Competitive Analysis by 2024

According to the latest report by IMARC Group titled, “Antimicrobial Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 2.8 Billion in 2018. Looking forward, the Antimicrobial Coatings Market Size is expected to reach a value of US$ 5.4 Billion by 2024, exhibiting a CAGR of around 11.5% during 2019-2024.

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Antimicrobial coatings assist in protecting surfaces against microorganisms, such as bacteria and fungi, by restraining their ability to multiply. Moreover, the utilization of these coatings helps in enhancing cleanliness and hygiene, and eliminating the need for frequent cleaning. As a result, they are applied on walls, vents, counters and door handles.

One of the significant factors which are impelling the growth of the market is the vast application of antimicrobial coatings in eliminating the germination of bacteria which causes infectious diseases such as Ebola, influenza, mumps, measles and chickenpox. Moreover, the use of these coatings in medical implants aids in eradicating the implant-associated infections which, in turn, is boosting the sales of antimicrobial coatings around the world. These coatings are also employed for improving the durability and appearance of a surface. Apart from this, manufacturers are undertaking research and development activities to launch innovative products, thereby expanding their overall consumer base.

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Insights on Market Segmentation:

Market Breakup by Product Type:

1. Silver Antimicrobial Coatings

2. Copper Antimicrobial Coatings

3. Others

On the basis of the product type, the market has been divided into silver antimicrobial coatings, copper antimicrobial coating and others. Amongst these, silver antimicrobial coating is the most preferred product type.

Market Breakup by Application:

1. Indoor Air Quality

2. Mold Remediation

3. Medical/Healthcare

4. Food and Beverage

5. Textile

6. Others

Based on the application, the market has been categorized into indoor air quality, mold remediation, medical/healthcare, food and beverage, textile, and others.

Market Breakup by Region:

1. North America

2. Asia Pacific

3. Europe

4. Middle East and Africa

5. Latin America

On the geographical front, North America holds the leading position in the market, accounting for the majority of the total market share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market including Akzo Nobel N.V., BASF SE, Diamond Vogel, Axalta Coating Systems, Nippon Paint Company Ltd, PPG Industries, Royal DSM, RPM International Inc., The DOW Chemical Company., The Sherwin-Williams Company and Axalta Coating Systems.

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