Portland, OR, June 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global antimicrobial coatings market generated $3.7 billion in 2020, and is projected to reach $11.0 billion by 2030, growing at a CAGR of 11.5% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Extensive application of antimicrobial coatings in catheters, surgical devices, medical instruments & trays, and medical electronics so as to minimize the risk of spreading infections, remarkable perks of using antimicrobial coatings such as enhanced surface durability and appearance, improved corrosion resistance, suppression of microbial growth, and significant surge in the demand for antimicrobial coatings in the healthcare industry are expected to drive the growth of the global antimicrobial coatings market. On the other hand, stringent regulations on the emission of toxic contaminants are expected to hinder the growth to some extent. However, persistent technological advancements in antimicrobial coatings are expected to create ample opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a moderate impact on the growth of the global antimicrobial coatings market, owing to the presence of lockdowns in various countries across the globe. Lockdowns led to the closure of majority of end-users of antimicrobial coatings such as aviation, marine, food, healthcare, building & construction. This was due to the stringent restrictions imposed by the government so as to curb the spread of the virus during the pandemic.
- On the other hand, increasing use of surface coating products such as antimicrobial coatings in healthcare centers, public transport, and other working environments during the pandemic is subsequently expected to recoup the growth of the market.
The report offers a detailed segmentation on the global antimicrobial coatings market based on type, end-use industry and region.
Based on type, the copper-based segment held the largest market share in 2020, garnering two-fifths of the total market. The silver-based segment, on the other hand, is predicted to cite the fastest CAGR of 12.1% during the forecast period.
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Based on end-user, the healthcare segment held the majority share in 2020, holding more than two-fifths of the total market. In addition, the same segment is anticipated to exhibit the fastest CAGR of 12.0% during the forecast period. Other segments analyzed in the report include Building & Construction, Food Service Packaging, Aviation, Marine, and Others.
Based on region, the market across Europe held the lion’s share in 2020, garnering nearly two-fifths of the total market. In addition, the same segment is projected to cite the fastest CAGR of 12.4% during the forecast period. Other regions analyzed in the market include North America, Asia-Pacific and LAMEA.
The key players analyzed in the global antimicrobial coatings report include Advanced Nanotech Lab (ANT Lab), Novapura AG, Axalta Coating Systems, LLC, Apogee Enterprises Inc., Akzo Nobel N.V., Sciessent LLC, Pylon Coatings, PPG Industries, Inc., The Sherwin Williams Company, and Nippon Paint Holdings.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
