Report Predicts Antimicrobial Coatings Market Will Reach $6.4 Billion by 2026
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.