Antimicrobial Coatings Market by Type (Silver, Copper), Application (Indoor Air / HVAC, Medical, Mold Remediation, Building & Construction, Foods & Beverages, Textiles) - Global Forecast to 2021
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Antimicrobial coatings market is projected to reach USD 4.19 Billion by 2021, at a CAGR of 12.1% from 2016 to 2021. With the increased penetration of antimicrobial coatings in end-use applications in North America and Europe, it is anticipated that the market will register slightly higher growth than the Asia Pacific region, Middle East & Africa, and South America, during the forecast period.
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Medical is the biggest end-use application of antimicrobial coatings. These are extensively used in the medical / healthcare industry for applications such as, catheters, medical devices, medical electronics, and trays among others.
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The demand for antimicrobial coatings is increasing due to the rising demand from North America and Europe, where governments are creating greater awareness about antimicrobial coatings in the medical / healthcare industries. Governments in all the countries are focusing on the requirement of decreasing hospital acquired infections, which is a major concern in recent years.
Stringent regulations have been imposed by governmental agencies to reduce these infections, which require the use of antimicrobial coatings.
Silver, the leading product type in antimicrobial coatings market
Silver has the largest consumption among all antimicrobial coatings. Silver has been known to be a potent antibacterial agent and is toxic to germs, fungi, and algae; and in the past few years, the use of silver in coatings has experienced a dramatic revival.
Inorganic silver antimicrobial coating systems based on colloidal silver, silver salts, silver zeolite/ion exchange resins, complex glasses containing metal ions, and nanosilver have been in high demand in the healthcare arena. The antimicrobial property of silver has not displayed any adverse effects on humans unless excessive silver is consumed.
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Growing demand in North America, the major driver for growth of antimicrobial coatings market
North America had the largest demand for antimicrobial coatings in 2015. The region has rapidly growing end-user industries in the U.S.
The growth is led by increased demand from the indoor air / HVAC and medical application segments. Regulations by governmental authorities and healthcare agencies is driving the antimicrobial coatings market in the region.
The foods & beverages and textiles applications in the U.S. and Canada are also supporting the market growth of antimicrobial coatings.
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