June 16, 2024

Antimicrobial Coatings Market is Expected to Flourish by Increasing Demand from Healthcare Industry

Antimicrobial coatings are widely used to protect medical devices and healthcare facilities from bacterial contamination. Antimicrobial coatings are applied to high-touch surfaces such as medical equipment handles, bedrails, faucets, doorknobs to prevent transmission of infections in hospitals and other healthcare settings. Growing concerns regarding hospital-acquired infections has increased the demand for antimicrobial coatings from the healthcare industry.

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 Dynamics:

The increasing demand from the healthcare industry is expected to drive the growth of the antimicrobial coatings market over the forecast period. As mentioned in the heading, concerns regarding hospital acquired infection have increased the adoption of antimicrobial coatings in healthcare facilities. For instance, according to the Centers for Disease Control and Prevention (CDC), around 1 in 31 hospital patients contract at least one HAI each year in the U.S. This costs the healthcare system between $28 to 45 billion annually. Antimicrobial coatings help reduce the risk of HAIs by inhibiting growth of infectious microorganisms on treated surfaces.

Second driver for the market growth is rising awareness regarding hygiene and cleanliness. The ongoing Covid-19 pandemic has increased focus on disinfection and hygienic surfaces. Consumers are now more aware about importance of cleaning household surfaces to limit spread of viruses. This increased awareness regarding hygiene and sanitation is expected to fuel demand for antimicrobial coatings in residential as well as commercial sector over the forecast period.

Segment Analysis

The antimicrobial coatings market can be segmented into type and application. Based on type, the market can be categorized into silver, copper, zinc and others. The silver segment currently dominates the market and is expected to continue its dominance over the forecast period. Silver-based coatings have strong antibacterial properties and are effective against a wide range of bacteria. They also do not lose their effectiveness with time.

PEST Analysis

  • Political: There are various regulations regarding the use of antimicrobial coatings in different end-use industries such as healthcare and food processing. Stringent standards are in place to ensure the safety of these coatings.
  • Economic: The growing healthcare and construction industries are driving the demand for antimicrobial coatings. Their ability to prevent the growth of microbes helps reduce disease transmission and maintenance costs.
  • Social: With rising hygiene awareness among consumers, the demand for antimicrobial surfaces is increasing in households and public places. Their self-sanitizing property provides an extra layer of protection against infections.
  • Technological: Coating manufacturers are focusing on developing new formulations with enhanced efficacy against antimicrobial resistance. Dual-action coatings inhibiting both bacteria and viruses are gaining traction.

Key Takeaways

The global antimicrobial coatings market is expected to witness high growth over the forecast period. 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.

The North American region currently dominates the market owing to strict safety and hygiene regulations in the healthcare and food industries. The Asia Pacific region is projected to be the fastest growing market for antimicrobial coatings during the forecast period. Factors such as the rapidly expanding construction industry, growing consumer awareness about hygienic surfaces and implementation of new regulations are fueling the demand in the region.

Some of the 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.

Key players operating in the antimicrobial coatings market are focusing on launching new products with dual-action functionality against bacteria as well as viruses. They are also focusing on partnerships with end-use industries to develop application-specific formulations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it