Antimicrobial coatings market forecast at $7.5 billion by 2028
Jersey City, NJ – Verified Market Research recently published a report, “Antimicrobial Coatings Market” By Type (Metallic, Non-Metallic), By Application (Hospitals And Clinics, Food And Beverage Industries, Pharmaceutical Manufacturing Plants), and By Geography. According to Verified Market Research, the Global Antimicrobial Coatings Market size was valued at USD 3.32 Billion in 2020 and is projected to reach USD 7.56 Billion by 2028, growing at a CAGR of 10.75% from 2021 to 2028.
The increasing use of the antimicrobial coating in the healthcare and medical sector across the globe with an increase in awareness regarding increasing health diseases propel the market growth of the Antimicrobial Coatings Market, due to the rise in government strict rules and regulations regarding the healthcare sector for using proper and appropriate prevention treatment for the infected person from the disease. While increasing awareness among consumers regarding the infection and conditions, they started using hygienic products for disinfection of their houses which do not affect them by the bacteria, with the help of antimicrobial paints for removing the microorganisms that contact treated surfaces.
It protects against various microbial invasions by impeding the growth of unwanted microbes, which can either cause diseases or degradation of the product. It also protects from fungi, considered an essential feature for specific outdoor applications. The broader application of these coatings in the healthcare industry boosts the demand for antimicrobial coating. Another factor is the geriatric population, decreasing fertility levels, and life expectancy. Medical devices play a crucial role in providing healthcare and improving people’s health.
The increasing number of healthcare sectors using antimicrobial-treated medical tools adopt specific infection control strategies. Medical devices are coated with antimicrobial agents, which decreases infection rates. The newly found virus COVID-19 can be spread from one person to another through cough or sneeze and by touching the infected surface. To provide a safe environment for the patients and medical staff, the healthcare industry adopts antimicrobial-protected tools, which are currently boosting the market growth of the Antimicrobial Coatings Market. Due to the increase in the production of antimicrobial coating applications, the toxic mechanisms from the industries that affect the environment and human life are the factors restraining the market growth of the Antimicrobial Coatings Market.
The major players in the market are Axalta Coatings Systems LTD, BASF SE, Nippon Paint Company Ltd, RPM International Inc., Akzo Nobel N.V., PPG Industries, and Diamond Vogel.