The Antiviral and Antimicrobial Coatings Market was valued at approximately USD 3.4 Billion in 2023 and is expected to grow at a robust CAGR of around 7.5% during the forecast period (2024-2032).
The global antiviral & antimicrobial coatings market is anticipated to witness an uptick owing to the increasing investment by various industry players as they are more focused on developing new measures to contain the spread of various infectious diseases. For instance, in 2019, United States has the 9% prevalence of diagnosed infectious diseases while Brazil has the highest prevalence of 19%. Furthermore, the growing applications of the antiviral & antimicrobial coatings in various sectors such as food & beverages, construction, among others. For example, organosilanes are silicon-based nanocoatings that has the ability to form highly abrasive surface for various viruses and bacteria which rip them apart.
As of March 16, 2021, there have been almost 121 million cases of COVID-19 worldwide. The disease has impacted more than 210 countries and territories, with the United States confirming around one-fifth of all global cases. Therefore, it has become imperative to decipher the transmission chain of the virus which in turn will help in controlling the spread of this virus. Owing to these facts and some of the government mandates, many of the industry players are incorporating antimicrobial and antiviral coatings on the surfaces of the HVAC systems to meet the stringent regulations pertaining to the indoor air quality. Thereby, significantly impacting the antiviral and antimicrobial coatings market.
the antiviral and antimicrobial coatings market is projected to grow at a CAGR of ~11% during 2021-27F. A rise in the series and seed funding is one of the prominent factors leading to the growth of the antiviral & antimicrobial coatings market globally. For instance, in June 2021, Kastus, an antiviral coating technologies specialist, has completed of a £4.84 million Series A round of financing. The funding was led by Alpha Ascent Ventures with continued participation from Atlantic Bridge Capital, Carragh Holdings and Enterprise Ireland.
Based on the form, the market is fragmented into liquid, powder, and aerosol. The liquid segment accounted for a considerable share in 2020 and is anticipated to register a lucrative CAGR during the forecast period as there is an increase in preference towards the liquid coatings as it provides better protection against corrosion.
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Healthcare Segment to Witness Robust growth
Based on application, the market is segmented into healthcare, building & construction, food & beverage, packaging, automotive and others. The healthcare segment had the highest revenue and CAGR growth in the analyzed period as these coatings are widely used in hospitals, surgical facilities and dental clinics for creating a protective coating on equipment as they are more prone to spread infections.
North America to Grab Lion’s Share, and witnessed Explicit Growth
Based on the region, North America dominated the global antiviral and antimicrobial coatings market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the increase in demand of these coatings in various sectors including healthcare, food & beverages and HVAC and well-established market players. North America is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market research report “Global Antiviral & Antimicrobial Coatings Market Analysis, 2020”.
According to UnivDatos, the key players with a considerable market share in the Antiviral & Antimicrobial Coatings Market include Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., DuPont De Nemours, Inc., PPG Industries Inc, Lonza Group Ltd, NanoGraphene Inc, Sika AG, BASF SE, RPM International Inc., Sciessent LLC, among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Antiviral & Antimicrobial Coatings Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for antiviral & antimicrobial coatings providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
By Material (Silver, Organic Material, Copper, Titanium Oxide, and Others)
By Form (Liquid, Powder, and Aerosol)
By Application (Healthcare, Building & Construction, Food & Beverage, Packaging, Automotive, and Others)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., DuPont De Nemours, Inc., PPG Industries Inc, Lonza Group Ltd, NanoGraphene Inc, Sika AG, BASF SE, RPM International Inc., Sciessent LLC, etc.)
Key questions answered in the study:
What are the current and future trends of the antiviral & antimicrobial coatings industry?
How the industry has been evolving in terms of material, form, and application?
How the competition has been shaping across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the antiviral & antimicrobial coatings industry?
What is the customer orientation, purchase behavior, and expectations from the antiviral & antimicrobial coatings firms across various regions?
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