The global antimicrobial coatings market size is projected to grow from USD 3.15 billion in 2020 to USD 6.52 billion by 2027 at a CAGR of 11.0 % between 2020 and 2027. Rise in prevalence of implant associated infections, surge in global geriatric population, the increase in the number of implantation surgeries, and high incidence of implant associated infections drive the market. However, high costs of raw materials involved in antibacterial coating and time-consuming regulatory approvals for the coatings restrain the market growth. The impact of the driving factors is expected to surpass that of the restraints. Moreover, the development of effective antibacterial coating for medical implants and presence of untapped market in the developing nations are expected to present new opportunities for market players in the near future.
The cost of antimicrobial coatings is high compared to traditional coating products. In developing countries, consumer preference mainly varies with respect to the price of the product. Also, low purchasing power, low per capita income, and low awareness about antimicrobial coatings in the developing countries compared to the developed ones resulted in the high growth of the market. Moreover, the requirement of skilled labor for the application of antimicrobial coatings is hampering the growth of the market.
Challenges: Growing concerns about the toxicity of nano-particles
The toxic nature of metal nano-particles has resulted in concerns about its applications, particularly in the medical industry. The properties of metal nano-particles are significantly different from their bulk form; they differ in terms of their toxic and biological activity. Even long-term exposure to silver and copper coatings might risk human health by inducing skin diseases and breathing issues if it gets into dust. Also, these particles can cause adverse effects on tissues, organs, and cellular & protein levels.
Due to the COVID-19 pandemic, significant growth in demand for antimicrobial coatings is witnessed from several applications, such as protective clothing, consumer goods, and electronic products. Currently, many established companies and start-ups are developing protective clothing to fight against COVID-19. In April 2020, the Indian Institute of Technology has developed spray-based antimicrobial coatings for Personal Protective Equipment (PPE), such as face masks, which will kill over 99.9% of bacteria and viruses. In April 2020, IIT-Madras’ startup had created textiles with antimicrobial material to fight against COVID-19.
With the growing concern and rising awareness about safety and hygiene across the globe, several manufacturers, such as textile, consumer goods, and electronics manufacturers are focusing on the development of antimicrobial products. It will help to comply with changing consumer preferences and market demand.
Key players such as AkzoNobel (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems (US), PPG Industries (US), Nippon Paint Holdings (Japan), and DuPont de Nemours (US) have adopted various strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the antimicrobial coatings market.
North America led the market and accounted for a major share of the global revenue share in 2019. North America construction industry is expected to witness considerable growth over the forecast period owing to increasing demand for non-residential construction projects, such as hospitals, schools, and colleges.
The implementation of the “Affordable Healthcare Act” in the U.S. has triggered the construction of healthcare units and hospitals. The growing population is expected to further boost the construction of office spaces, industrial plants, schools, and colleges, thereby, driving the demand for antimicrobial coatings in construction applications.
However, it is expected to witness slow growth as the cross-border trade among the economies got affected on account of the COVID-19 pandemic. The market is primarily driven by the rising demand for polypropylene and ABS in the packaging application segment for manufacturing bottles, face masks, and face shields among others.
Asia Pacific is estimated to be the second-fastest-growing regional market over the forecast period. The market is driven by the growth of the major end-use industries, such as healthcare, construction, and food processing & packaging. Robust manufacturing base of the packaging products industry in China, Japan, and India coupled with increased sales of e-Commerce and packed food products is anticipated to augment the regional market growth
The cost of antimicrobial coatings is high compared to traditional coating products. In developing countries, consumer preference mainly varies with respect to the price of the product. Also, low purchasing power, low per capita income, and low awareness about antimicrobial coatings in the developing countries compared to the developed ones resulted in the high growth of the market. Moreover, the requirement of skilled labor for the application of antimicrobial coatings is hampering the growth of the market.
Challenges: Growing concerns about the toxicity of nano-particles
The toxic nature of metal nano-particles has resulted in concerns about its applications, particularly in the medical industry. The properties of metal nano-particles are significantly different from their bulk form; they differ in terms of their toxic and biological activity. Even long-term exposure to silver and copper coatings might risk human health by inducing skin diseases and breathing issues if it gets into dust. Also, these particles can cause adverse effects on tissues, organs, and cellular & protein levels.
Due to the COVID-19 pandemic, significant growth in demand for antimicrobial coatings is witnessed from several applications, such as protective clothing, consumer goods, and electronic products. Currently, many established companies and start-ups are developing protective clothing to fight against COVID-19. In April 2020, the Indian Institute of Technology has developed spray-based antimicrobial coatings for Personal Protective Equipment (PPE), such as face masks, which will kill over 99.9% of bacteria and viruses. In April 2020, IIT-Madras’ startup had created textiles with antimicrobial material to fight against COVID-19.
With the growing concern and rising awareness about safety and hygiene across the globe, several manufacturers, such as textile, consumer goods, and electronics manufacturers are focusing on the development of antimicrobial products. It will help to comply with changing consumer preferences and market demand.
Key players such as AkzoNobel (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems (US), PPG Industries (US), Nippon Paint Holdings (Japan), and DuPont de Nemours (US) have adopted various strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the antimicrobial coatings market.
North America led the market and accounted for a major share of the global revenue share in 2019. North America construction industry is expected to witness considerable growth over the forecast period owing to increasing demand for non-residential construction projects, such as hospitals, schools, and colleges.
The implementation of the “Affordable Healthcare Act” in the U.S. has triggered the construction of healthcare units and hospitals. The growing population is expected to further boost the construction of office spaces, industrial plants, schools, and colleges, thereby, driving the demand for antimicrobial coatings in construction applications.
However, it is expected to witness slow growth as the cross-border trade among the economies got affected on account of the COVID-19 pandemic. The market is primarily driven by the rising demand for polypropylene and ABS in the packaging application segment for manufacturing bottles, face masks, and face shields among others.
Asia Pacific is estimated to be the second-fastest-growing regional market over the forecast period. The market is driven by the growth of the major end-use industries, such as healthcare, construction, and food processing & packaging. Robust manufacturing base of the packaging products industry in China, Japan, and India coupled with increased sales of e-Commerce and packed food products is anticipated to augment the regional market growth
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