According to Custom Market Insights (CMI), The Global Antibacterial Coating Market size was estimated at 280 Million in 2021 and is expected to hit around 1.8 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 11.53 % from 2022 to 2030.
Antibacterial coatings are a type of coatings that are primarily made up of silicone, zinc, copper, polymers, and others. It helps in the prevention of microbial growth on surfaces. In addition, these coatings increase surface durability, appearance, resistance to corrosion, and others.
The global antibacterial coating market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities, thereby increasing the production capacity of antibacterial coatings thus, driving the market growth by catering to the need for antibacterial coatings in various end-use industries.
Browse the full “Antibacterial coatings Market Size, Trends and Insights By Type (Silver-based, Copper-based, Zinc-based, Polymer-based), By End Use (Building and construction, Healthcare, Automotive, Food packaging service, Marine, Aviation, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/antibacterial-coatings-market/
Market Dynamics.
Drivers.
Robust demand from the healthcare sector
The growth of antibacterial coatings is driven by the rapidly growing healthcare sector; government support and investment in the healthcare sector have spurred market growth during the forecast period. In addition, healthcare workers tend to get infected by several microbes, such as Healthcare-Acquired Infections (HAIs), surgical site infections, and others. Bacterial coatings are used on surgical instruments, switches, devices, floors, walls, and many others to get rid of these infections. These factors are expected to drive the market in the upcoming years.
Restraints.
High production cost
Owing to high production is expected to hamper the antibacterial coating market. In addition, antibacterial coatings release toxic ingredients. Due to this, it has adverse effects on human health. These factors together restrain the market in upcoming years.
Opportunities.
Robust demand from the automotive sector
The growth of the antibacterial coating market is driven by rising urbanization, an increase in disposable income, growing demand for vehicles, and well-established auto-component manufacturing plants. For instance, Ford Motor Co. uses antibacterial coating to manufacture auto-components and auto fibres. This has surged the demand for antibacterial coatings in the growing automotive industry.
Challenges.
Environmental concerns and high-cost production
Over the forecast period, copper and silver-based coatings release toxic fumes, due to which several governments have regulated copper-based antibacterial coatings. In addition, lack of skilled labour, poor R & D investment from the government, and needing to be more knowledgeable of the benefits of antibacterial coating is expected to act as challenging factor during the forecast period.
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Report Highlights.
Depending upon the service type, the health and fitness club is segmented as silver-based, copper-based, zinc-based, polymer-based, and others.
The copper-based antibacterial coatings segment dominated the market in 2021 and grew at a CAGR of 12.4%. Copper-based antibacterial coatings are widely used in the healthcare sector where HIA infections possibly infect healthcare workers, due to which copper-based antibacterial coatings are widely used on floors, highly infected areas such as surgical units, the emergency department of the hospital, and others. This is anticipated to increase the demand for antibacterial coatings in the healthcare sector. In addition, the growing demand for kiln furnaces from the building and construction sector and manufacturing sector has witnessed significant growth for the copper-based antibacterial coating market during the forecast period.
Based on application, the global antibacterial coating market is studied across the building and construction, healthcare, automotive, food service packaging, marine, aviation, and others. It is expected that the global healthcare industry segment to hold a dominant position during 2022 -2031 and account for 42% of the total market share.
According to an article published by India Brand Equity Foundation in October 2022, the healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases, and increasing access to insurance. This factor is driving the overall market growth in healthcare sectors. It is extensively applied on highly infected areas, surgical instruments, surfaces, walls, doors, switches, and others. This is projected to grow in the market in the upcoming years.
Regional Snapshots.
Asia-Pacific is the dominant region in the antibacterial coating market and accounts for 38.56% of the total market share. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others have significantly contributed to the growth of the antibacterial coatings market in the region. In addition, the demand for antibacterial coatings has surged critical factors for the growing pharmaceutical, automotive, medical sectors, and other end-use industries.
Furthermore, the healthcare sector is one of the booming sectors in India. For instance, according to a report published by NITI Aayog in March 2021, India’s healthcare industry has been growing at a Compound Annual Growth Rate (CAGR) of around 22% since 2016. This rate is expected to reach USD 372 billion in 2022. These factors together increase the usage of antibacterial coatings, especially copper-based and polymer-based, in the growing healthcare industry.
Key Players
- AkzoNobel N.V.
- AK Steel Corp.
- Lonza
- Diamond Vogel
- DuPont
- Axalta Coating Systems
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- Koninklijke DSM N.V.
- Burke Industrial Coatings
- The Sherwin-Williams Company
- Troy Corporation
Table of Contents: https://www.custommarketinsights.com/report/antibacterial-coatings-market/#table-of-contents
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