Antimicrobial Coatings Market Outlook 2031
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The global antimicrobial coatings market was valued at US$ 3.5 Bn in 2020
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It is estimated to expand at a CAGR of 12.1% from 2021 to 2031
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The global antimicrobial coatings market is expected to reach the value of US$ 6.7 Bn by the end of 2031
Impact of COVID-19 on Global Antimicrobial Coatings Market
The antimicrobial coatings market is booming amid the coronavirus pandemic due to increasing demand for protective coatings from various end-use industries across the globe. The increasing spread of coronavirus breakdown is responsible for the rising demand and supply of pharmaceutical products, sanitizers, disinfectants, etc. Consistent efforts of manufacturers operating in the antimicrobial coatings market to fulfill the surging demand from healthcare and pharmaceutical industries is driving the global market. Apart from healthcare, antimicrobial coatings are widely used in indoor air quality products, food, packaging, and textile industries. Antimicrobial coatings are also applied on doors, glass panels, walls, doors, HVAC tents, and counters.
There is a rising prevalence of microorganisms such as parasites, germs, and bacteria into residential as well as commercial places. Antimicrobial coatings are used for protecting surfaces against these harmful microorganisms. Increased awareness about the properties and benefits of the antimicrobial coatings in consumers is also contributable to the global market growth. Rising concerns about cleanliness in various industries have led to the increased product demand, resulting in the rapid development of the global market. The surging R&D activities by key players in antibacterial coatings is also contributing to the growth of the market.
Increasing Applications of Antimicrobial Coatings in Various End-use Industries
There is an increasing demand for antimicrobial coatings from various end-use industries such as medical & healthcare, indoor air quality, mold remediation, food, construction, antimicrobial textiles, consumer electronics, etc. Increasing awareness of the benefits of antimicrobial coatings in consumers across the globe is driving the global market growth. There are tremendous growth opportunities for manufacturers operating in the antimicrobial coatings market. The global market is also driven by the rising applications of antimicrobial coatings in the packaging industry. Growth and advancement of the medical & healthcare industry are major factors contributing to the rising demand for antimicrobial coatings. Antimicrobial coatings are also used in protective masks, gloves, and carpeting.
Lucrative Growth Opportunities in Healthcare Sector
Major players operating in the antimicrobial coatings market are investing and expanding their production capabilities in order to gain revenue benefits. There is an increasing demand for antimicrobial coatings from the healthcare industry. The tremendous growth in the healthcare industry is one of the key factors driving the global antimicrobial coatings market. Developing countries are investing in healthcare to fulfill the increasing demand for antimicrobial-protected tools. Rising concerns about infectious diseases and their negative impact on human health are major factors driving the antimicrobial coatings market. The rapidly spreading coronavirus has increased the demand for antimicrobial coatings from consumers.
Antimicrobial coatings used in medical devices help reduce the infection rates. The growing healthcare expenditure by governments, along with rising adoption of products with antimicrobial coatings is fueling the expansion of the global antimicrobial coatings market. Antimicrobial coatings are increasingly being used in surgical instruments, implantable, etc.