Antimicrobial Coatings Market is projected to reach worth 5.29 Billion by 2023, globally.

Overview:

In the year 2018, Global Antimicrobial Coatings Market was valued at USD 2.99 Billion. By the year 2023, it is expected to reach USD 5.29 Billion at pace of 12.1% CAGR.

Antimicrobial coatings are used for protecting surfaces from micro-organisms like germs, fungi, parasites, and bacteria. These coatings are mainly used in the healthcare facilities. Antimicrobial coatings are applied to door handles, walls, vents, counters, and other surfaces.  These coatings are also applied on gloves, masks, clothes and carpeting.

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Underlying Causes

The growth for Antimicrobial Coatings market is driven due to factors like increasing demand of antimicrobial coatings, rising prevalence of chronic diseases across the globe, growing geriatric population, increasing adoption antimicrobial agents in healthcare sector. In addition, rising advancement of biotechnology and material sciences, increasing investments in R&D activities, and rising number of hospitals across the globe are expected to drive the growth rate for Global Antimicrobial Coatings Market. However, lack of awareness and high cost associated to antimicrobial products are expected to hinder the market growth during the forecast period.

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Geographic Segmentation:

Based on geography the Antimicrobial Coatings market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global Antimicrobial Coatings market due to increasing adoption antimicrobial coatings in healthcare sector, and rising prevalence of chronic diseases are the driving factors in this region. Asia-Pacific regions like India and China are rapidly growing due to increasing population, rising geriatric population, growing demand antimicrobial products, and improving healthcare facilities are projected to witness high growth rate for Antimicrobial Coatings market during the forecast period.

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Key Players:

Leading companies for Global Antimicrobial Coatings market are Akzonobel, Nippon Paint Company, DOW Chemical Company, RPM International, Lonza Group, Royal DSM, Damond Vogel, Sherwin Williams, BASF SE, and Axalta Coating Systems.

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