Antimicrobial Coatings Market Analysis
Antimicrobial Coatings Market - Global Industry Insights, Trends, Outlook, and Opportunity, 2018-2026
Antimicrobial coatings consist of a chemical compound or a blend of chemicals compounds that inhibit the growth of microorganisms on the applied surface. These are widely used in healthcare settings and also intensive research facilities, where sanitization of the working area is of paramount importance. These are also used in households, especially in areas such as bathrooms and kitchen areas that are constantly in touch with humans and can be breeding grounds for pathogens. Some of the most common types of bacteria that can be kept at bay using antimicrobial coatings are Pseudomonas aeruginosa (P.a.), Escherichia Coli (E.a), Bacillus subtilis, and Listeria. Biocides such as copper, silver, and Titania core shell particles are added to paint formulations to protect the applied surface from microbial attack and fungal and algal growth. They also help in preventing the product from stains and deterioration of the paint usually caused by these bacteria. Antimicrobial coatings are also applied to hard surfaces such as flooring to keep away germs, molds, and fungi. These highly versatile coatings can be used on various substances such as textiles, food, and construction materials. Its application across such diverse sectors such as pharmaceuticals, construction, electronics, and food & packaging is a major factor fueling growth of the global antimicrobial coatings market.
In medical devices, antimicrobial coatings are largely used in catheters, pacemaker stents and parts, and medical trays, among others. The growth of the global antimicrobial coatings market is rising significantly, owing to the increasing demand from developed nations such as North America and Europe. Governments in developing and developed countries such as India, china, UK, US and others are mainly focusing on the requirement of reducing hospital acquired infections, including bloodstream diseases, urinary tract infection, and pneumonia to name a few, which turns out be a major concern. Therefore, hospitals and clinics make the most usage of antimicrobial coatings.
A wide variety of antimicrobial coatings are available in the market, with copper and silver being the most widely used. Silver accounts for the largest share amongst all other types of antimicrobial coatings, due to it being a highly effective antibacterial agent and is also a toxic agent to fungi, germs, and algae.
Antimicrobial Coatings Market: Market Taxonomy
On the basis of application, the global market is segmented into the following:
By Type of coating
The global market can be segmented on the basis of type of coatings into the following:
Antimicrobial Coatings Market Outlook- Asia Pacific is expected to highlight potential market for the key players operating in the global antimicrobial coatings market
North America accounts for the highest demand for antimicrobial coatings owing to the booming end-user industries such as healthcare institutes, manufacturing units and others in the U.S. According to the U.S. Bureau of Labor Statistics, the healthcare industry in the country is estimated to witness a rapid growth over the following eight years. This is mainly attributed to the growing aging population coupled with increasing number of people suffering with physical and mental illness. This in turn, is expected to drive growth of the antimicrobial coatings industry. The growth in antimicrobial coatings is driven by the increased demand from the indoor air / HVAC and medical application. Apart from medical applications, food & beverages and textiles industry especially in the U.S. and Canada also contribute to the market demand of antimicrobial coatings in North America.
APAC, led by China and India is expected to witness a significant growth during the forecast period owing to the increasing construction projects for commercial and corporate infrastructure along with residential buildings, growing food industry and expanding medical industry wherein, antimicrobial coatings are used in various applications to ensure safety and minimizing infections.
Major players operating in the global antimicrobial coatings market include AkzoNobel Coatings Inc., BASF, RPM International, Dow Chemicals, PPG Industries, Diamond Vogel, RPM International Inc., PPG Industries Inc., Royal DSM, and Sherwin-Williams Company.
Based on silver as an active antimicrobial ingredient, AgION has been developed by AK Coatings Inc. Carbon and rolled flat stainless steels are few products that are coated with AgION antimicrobial component.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to: