Global Antimicrobial Coating Market to Register a CAGR of Around 13% By 2032 – Fact.MR
Antimicrobial Coatings Market is expected to reach a valuation of US$ 12.5 Bn by 2032. The market for Medical Devices application is expected to be the highest revenue-generating segment, with a projected CAGR of 14.4% during 2022 – 2032.
Rockville, Maryland, United States, 10th Jan 2023 – The Antimicrobial Coating Market revenues were estimated at US$ 3.4 Bn in 2021 and is anticipated to grow at a CAGR of 12.9% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 12.5 Bn.
The key application for end use of antimicrobial coating includes Medical Devices where the rise is seen due to rising healthcare-related dangers, rise in healthcare-associated infections, and support from government entities.
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The key factors propelling the Antimicrobial Coating demand are increased healthcare-associated infections (HCAI) and a rise in the number of microbes. According to the European Center for Disease Prevention and Control, 37,000 people die as a result of healthcare-associated infections (HCAI), which affect more than 4 million people annually. The global healthcare industry faces a huge problem in battling illnesses related to healthcare. HCAI infections are the sixth most common cause of death in Western nations. It is far worse in developing nations.
Key Takeaways from the Study
• Antimicrobial Coating Market was valued at US$ 3.4 Bn in 2021. According to Fact.MR, Antimicrobial Coating Market revenue would increase 3.7X between 2022 and 2032, reaching roughly US$ 12.5 Bn in 2032.
• Revenue through Medical Devices is projected to account for the highest projected CAGR of over 14.4%.
• In terms of region, North America accounted for the largest market, which grew at a CAGR of 9.7% during2017 – 2021.
• US is the dominant country in Antimicrobial Coating Market with an absolute dollar growth opportunity of US$ 3 Bn.
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Some of the key players in the antimicrobial coatings market include AkzoNobel N.V., Nippon Paint Co. Ltd, PPG Industries, Inc, RPM International, The Sherwin Williams Company, Lonza, DuPont, RPM International Inc, Burke Industrial Coatings, and Troy Corporation.
Some of the recent developments in the Antimicrobial Coatings Market are:
• In April 2022, the inclusion of Specialty Coating Systems (Vietnam) Co. Ltd. was announced by Specialty Coating Systems, Inc. The ISO 9001:2015-certified plant serves clients in the aerospace, medical device, consumer industrial electronics, transportation, and industries with conformal coating services. The company will benefit from increased business and goodwill in Vietnam as a result of this growth.
• In November 2021, DuPont entered into a binding agreement to pay US$ 5.2 Bn to buy Rogers Corporation. As a global multi-industrial firm focused on market-leading, high-growth, high-margin industries with complementary technological and financial traits. DuPont recently announced a number of initiatives that advance its strategy. DuPont will be able to grow its business with the assistance of Rogers Corporation owing to this breakthrough.
• In April 2020, for Personal Protective Equipment (PPE) like face masks, the Indian Institute of Technology has created spray-based antimicrobial coatings that will destroy over 99.9% of germs and viruses. To combat COVID-19, an IIT-Madras business designed clothes containing antibacterial substances in April 2020.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Antimicrobial Coating Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Antimicrobial Coating Market in terms of by Type (Silver, Copper, Titanium Dioxide), by Application (Medical Devices, Indoor Air Quality, Construction and Other Applications), and In terms of Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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