Antimicrobial Powder Coatings Market - Global Industry Analysis, Size, Share, Growth

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Antimicrobial Powder Coatings: Introduction

• Antimicrobial powder coatings are different from liquid coatings, as they do not require a solvent to keep the filler parts and binders in a liquid suspension form. They are used to coat a wide range of substrates, including aluminum extrusions, household appliances, automobile & bicycle parts, and drum hardware. These coatings exhibit the ability to hinder the growth of microorganisms including protozoans, fungi, and bacteria. Furthermore, they are highly engineered materials that are manufactured to mimic the antimicrobial type of peptides, employed by the immune system to inhibit the growth of pathogens and microbial bacteria.

Key Drivers of Global Antimicrobial Powder Coatings Market

• The global market for antimicrobial powder coatings has been expanding at a significant pace. It is projected to generate promising growth opportunities in the next few years. Rapid growth of the medical device coatings industry is estimated to boost the global market.
• Durability, high strength, corrosion resistance, esthetics, and easy application of antimicrobial powder coatings are estimated to augment the market in the next few years
• Rise in air pollution has resulted in various health hazards. This is one of the primary factors anticipated to fuel the global antimicrobial powder coatings market. Several benefits offered by antimicrobial powder coatings, including high bio-compatibility, are projected to drive the market in the near future.

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Silver Additive Type Segment to Dominate Global Market

• Based on additive type, the silver segment is expected to dominate the market during the forecast period. Silver ion is widely known for its antifungal, antibacterial, and antiviral effects; and also for low toxicity for human beings. Technology advancement and efforts made by coating manufacturers to incorporate silver-based antimicrobial powder coatings onto medical devices, such as surgical instruments and implants, are driving the segment.

Medical & Health Care End-use Industry Segment to Dominate Global Market

• Based on end-use industry, the medical & health care segment is estimated to account for major share of the antimicrobial powder coatings market during the forecast period. Antimicrobial powder coatings promote a safe and hygienic environment. These coatings are often used by hospitals, surgical facilities, and dental offices to create a protective coating on equipment.

Stringent Regulations to Hamper Global Market

• Rise in number of regulations is one of the key factors expected to restrict the global antimicrobial powder coating market in the next few years. Nevertheless, the developing construction industry and increase in research and development activities are likely to drive the global market in the near future.

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COVID-19 Impact on Antimicrobial Powder Coatings Market

• Demand for antimicrobial powder coatings has been rising in several applications, such as appliances, consumer goods, and electronic products, during the COVID-19 pandemic. Currently, many established companies and start-ups are developing products to combat COVID-19. For instance, in June 2020, Berger Paints India offered antimicrobial powder coatings for treatment in the medical industry to limit the spread of the disease. Several manufacturers, such as those of consumer goods and electronics, are focusing on the development of antimicrobial products owing to the rising concern and awareness about safety and hygiene across the globe.

North America to Hold Significant Share of Global Antimicrobial Powder Coatings Market

• In terms of region, the global antimicrobial powder coatings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America is anticipated to hold notable share of the global antimicrobial powder coatings market during the forecast period. The antimicrobial powder coatings market in North America is expected to expand significantly in the next five years due to the rise in demand for these coatings in the medical & health care sector to inhibit the growth of bacteria and microbes causing HAIs.
• Led by the implementation of stringent regulations pertaining to the indoor air quality, HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the required air quality
• The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period, owing to the well-established construction and automotive industry in the region. China, India, Japan, ASEAN countries, and Australia are expected to contribute significantly to the expansion of the market in the region.

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Key Players Operating in Market

The global antimicrobial powder coatings market is a consolidated with the presence of large-sized international players. However, presence of a small- and medium-sized domestic players makes the market highly competitive. Key players operating in the global antimicrobial powder coatings market include:

• AkzoNobel N.V.
• Sherwin Williams Company
• PPG Industries Inc.
• Axalta Coating Systems
• BASF SE
• Berger Paints India Ltd
• Arkema

Companies in the Antimicrobial Powder Coatings market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.

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