Biocontamination is a growing issue that causes medical complications and increased expenses. Antiviral & antimicrobial coatings are chemical agents used on various surfaces to stop the growth of disease-causing micro-organisms. These coatings are used by various industries, including building & construction, healthcare, automotive, food & beverage, packaging, protective clothing, and air and water treatment. Coating products are used by industries in three forms: liquid, powder, and aerosols. The materials used in antiviral and antibacterial coatings include silver, copper, aluminum, silicon dioxide, organic coatings, and others.
The growth of this market is mainly attributed to the increasing incidence of healthcare-associated infections, rising number of food product recalls due to microbial contamination, and government initiatives & funding for the development of antimicrobial coatings. The growing focus on developing materials for antimicrobial coating specific to aeronautics is expected to offer significant growth opportunities for players in this market. Meticulous Research®, in its latest publication on Antiviral & Antimicrobial Coatings Market, states that the global antiviral & antimicrobial coatings market will increase at a CAGR of 11.7% from 2021 to 2028 to reach $8.53 billion by 2028.
To provide efficient analysis, Meticulous Research has segmented this market based on type (antimicrobial and antiviral), material (silver, copper, aluminum, silicon dioxide, organic materials, and other materials), form (powder and aerosol), application (building & construction, healthcare, automotive, food & beverages, packaging, protective clothing, and air & water treatment), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Geographically, North America is estimated to command the largest share in this market in 2021, followed by Europe. The major share of North America is mainly attributed to the increasing number of food, medical device, and cosmetic product recalls initiated by regulatory agencies, the significant burden of healthcare-associated infections, and growing research activities dedicated to antiviral & antimicrobial coatings are factors contributing to the growth of the antiviral & antimicrobial coatings market in North America. However, Asia-Pacific is expected to grow with the lucrative CAGR over the forecast period.
In terms of type, the antimicrobial segment is estimated to account for the largest share of the market in 2021. The use of continuously active antimicrobial coatings is rising due to the emergence of new infectious diseases. It has been observed that the application of active antimicrobial coatings results in a continuous decrease in the number of microorganisms. Developments in the antimicrobial coatings space include new product development and product launches. For instance, in May 2021, Harlequin Paints (South Africa) launched a new antimicrobial clear coating, STERISEAL, designed for a range of finishes including furniture, school desks, walls, hotels, and restaurants to protect against mold, mildew, and bacteria.
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In terms of material, the silver segment is estimated to account for the largest share of the market in 2021. The same segment is estimated to grow with the fastest CAGR over the forecast period. The development of silver nanotechnology has augmented the demand for silver coatings in the medical equipment and food industries. For instance, sutures coated with silver nanoparticles have anti-inflammatory properties, whereas low-density polyethylene polymer matrices containing silver nanoparticles can extend the shelf life of fruit juices.
In terms of form, the liquid antimicrobial segment is estimated to account for the largest share of the market in 2021. Liquid antimicrobial coatings have applications in agriculture, oil and gas, equipment and machinery, building and construction, and healthcare. The smooth liquid metallic finishing is one of the key drivers for adopting liquid-based antiviral & antimicrobial coatings. Liquid coatings are also used in automobile, concrete, wood, where it provides better surface properties such as high gloss, anti-sealing properties, and rub resistance. Further, multiple layers of liquid coatings also make the surfaces less susceptible to corrosion.
In terms of application, the healthcare segment is estimated to account for the largest market share in 2021. The same segment is estimated to emerge with the fastest CAGR over the forecast period due to increased antiviral & antimicrobial coatings applications amid the COVID-19 pandemic.
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in the global antiviral & antimicrobial coatings market are Akzo Nobel N.V. (Netherlands), Lonza Group Ltd (Switzerland), PPG Industries Inc (U.S.), Axalta Coating System (U.S.), The Sherwin-Williams Company (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), RPM International Inc. (U.S.), Sciessent LLC (U.S.), Sika AG (Switzerland), BASF SE (Germany), Jotun Group (Norway), DuPont De Nemours, Inc. (U.S.), and NanoGraphene Inc (U.S.).
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