MarketsandMarkets™ announced the release of a new study that predicts the global antimicrobial coatings market will grow from $3.9 billion in 2021 to $6.4 billion by 2026. The study predicts a compound annual growth rate of 10.5% for the antimicrobial coatings market. The growth is attributed to the increasing use of antimicrobial coatings across several industrial applications to ensure safety from bacteria, pathogens and other microbes.
The study reports that by type, the silver-based segment accounted for the largest share in the overall antimicrobial coatings market. It is used widely due to properties such as a high efficacy rate, long-lasting effect, durability and strength, among others. The higher efficiency and low toxic nature compared to other types of antimicrobial technology support this growth. The silver-based segment is experiencing increased penetration in the medical and healthcare, protective clothing, food and beverage, and HVAC system applications.
The medical and healthcare sector is estimated to be the leading consumer of antimicrobial coatings. This sector led the overall antimicrobial coatings market in 2020, both in terms of value and volume. In the medical and healthcare industry, growing concern about hospital-acquired infections (HAIs) and their impact is a major driving factor 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, where care has been taken to avoid the spread and growth of the COVID-19 virus and other bacteria on surfaces. These temporary and existing healthcare facilities are applying antimicrobial coatings on surfaces such as door handles, trails, beds, healthcare instruments, and medical devices used for treatment.
According to the study, North America is projected to have the largest share in the global antimicrobial coatings market, in terms of both value and volume, from 2021 to 2026. The North American antimicrobial coatings market is driven by the rising demand from the medical and healthcare sector to inhibit the growth of bacteria and microbes causing HAIs. In North America, the United States has been severely impacted by the COVID-19 pandemic compared to Canada and Mexico, which resulted in a significant increase in demand from the medical and healthcare application sector. Additionally, due to stringent regulations pertaining to indoor air quality, HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the required air quality by inhibiting the growth of mold and bacteria.
For more information about the 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 2026, visit https://www.marketsandmarkets.com/requestsampleNew.asp?id=1297.