According to the new market research report "Antimicrobial Coatings Market by Type (Silver, Copper, Titanium Dioxide), Application (Medical & Healthcare, Food & Beverage, Building & Construction, HVAC System, Protective Clothing, Transportation), & Region – Global Forecast To 2025", The global antimicrobial coatings market size is projected to grow from USD 3.3 billion in 2020 to USD 5.6 billion by 2025, at a CAGR of 10.7% between 2020 and 2025. The growth is attributed to the growing adoption of antimicrobial coatings across several industrial applications to ensure the utmost safety from the bacteria, pathogens, and other microbes.
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By type, the silver-based segment accounted for the largest share in the overall antimicrobial coatings market. It is used widely due to its properties, such as high efficacy rate, long-lasting effect, durability, and strength, among others. Also, the higher efficiency and low toxic nature compared to other types support the growth of the market. Also, increasing penetration in the medical & healthcare, protective clothing, food & beverage, and HVAC system applications.
The medical & healthcare segment led the overall antimicrobial coatings market in 2019, both in terms of value and volume. In the medical & healthcare industry, the growing concern about hospital-acquired infections (HAIs) and its related impact on humans are major driving factors for the antimicrobial coatings market. There has been a significant increase in the patient pool across the globe due to the COVID-19 pandemic. For the treatment of these patients, temporary hospitals and facilities have been established in several countries, wherein the utmost care has been taken to avoid the spread and growth of the COVID-19 virus and other bacteria on the surfaces. For the same, these temporary and existing healthcare facilities are applying antimicrobial coatings on the surfaces, such as door handles, trails, beds, healthcare instruments, and medical devices used for the treatment.
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The global market size for antimicrobial additives was USD 2.67 Billion in 2015 and is projected to reach USD 3.95 Billion by 2021, registering a CAGR of 6.7% between 2016 and 2021. New product launches, expansions, and contracts & agreements are the strategies adopted by the key players to strengthen their foothold in the global antimicrobial additives market. The maximum number of strategic developments undertaken between 2011 and 2016 took place in North America, followed by Asia-Pacific and Europe.
The key players operating in the global antimicrobial additives market are BASF SE (Germany), The Dow Chemical Company (U.S.), Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), Polyone Corporation (U.S.), Sanitized AG (Switzerland), Microban International (U.S.), Biocote Limited (U.K.), King Plastic Corporation (U.S.), and Steritouch Ltd. (U.K.) among others.
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The Dow Chemical Company (U.S.) is one of the leading antimicrobial additives manufacturers, globally. The company has been focusing on new product launches to maintain its leading position in the market. For instance, in May 2015 Dow Microbial control, a business group of The Dow Chemical Company, launched a product-KATHON Antimicrobial. This new product helps to control microbial biofilms, bacteria, fungi, and algae. This helps the company to strengthen its position in the global antimicrobial additives market. The company also launched Silvadur Antimicrobial in the same month. The product is a patented polymer technology that utilizes silver ions to kill odor-causing bacteria.
BASF SE (Germany) is another major player in the global antimicrobial additives market. The company has been focusing on new product launches and joint ventures as part of its strategic development activities. In April 2016, the company added MasterTop TC 417W to its Master Builders Solutions brand. The new product is a clear, transparent, water-based polyurethane topcoat. The product has antibacterial activity in accordance with ISO 22196:2011. The product is mainly used in applications such as hospitals, schools, cafeterias, offices, or exhibition centers.
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