Antimicrobial coatings are experiencing a demand in the world market as they offer an additional layer of security against hazardous microorganisms. Thus, these antimicrobial coatings are extremely popular in sectors such as medical and healthcare, construction, food, and textiles among others which subsequently has resulted in driving the overall growth of the global antimicrobial coatings market. However, there are some heath issues related with certain antimicrobial coatings as they are known to have active silver which is harmful for human health. Additionally, the growth of the global antimicrobial coating market may also be slowed down due to strict health and environmental regulations. Also, there have been reports of antimicrobial coatings being ineffective in clothing related applications which has led to an extremely slow growth rate in the textile industry.
The global antimicrobial coating market is expected to grow at an impressive CAGR of 12% over the course of given forecast period of 2012 to 2018. In terms of demand, the global antimicrobial coatings market is projected to show a sturdy CAGR of 12.4% during the aforementioned forecast period.
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Surface Coatings and Modifications Segment to Continue its Domination with Projected Revenue Related CAGR of 12.2%
By definition, antimicrobial coatings prevent, kill, discourage or act as a combination of the mentioned actions to impede the growth of microorganisms such as bacteria, germs, viruses, fungi, parasites, and molds. These antibacterial coatings were developed with a goal to cover the surfaces on which they were used. The chief role of an antimicrobial coating is to safeguard humans from hazardous microorganisms and cut down the risk of infections along with covering the surface of the application.
Some of the major applications of antimicrobial coatings include in medical, healthcare, indoor air quality, textiles, mold remediation, food, and construction. These coatings are also extremely useful at several other instances where there is a requirement for conditions free from microbes. The antimicrobial coatings can be used on a surface by using different methods such as draw-down process, spraying, spin coating process, and thin film coating process.
Depending on the product type, the global antimicrobial market is split into surface coatings and modifications and antimicrobial powder coatings. Out of these, antimicrobial powder coatings is further segmented into listeria, pseudomonas, and E. coli. The other product type, surface coatings and modifications which dominates majority of the global market by product type are expected to show a healthy CAGR of 12.2% in terms of revenue and a CAGR of 8.8% in terms of volume over the coming years of the forecast period.
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North America to Remain in Front Owing to High Importance Given to Medical Sector
Traditionally, the global antimicrobial coatings market has been most adopting region for innovative practices and technologies which improve human health and their quality of living. The demand for antimicrobial coatings is highest in North America owing to great importance given to healthcare and medical sector in general. In addition to this, North America market for antimicrobial coating is expected to be the fastest growing market with respect to demand as well as supply perspective. It is expected that this market will expand at a healthy CAGR of 13.2% over the course of the forecast period of 2012 to 2018.
With respect to the recent economic development, Asia Pacific is on course of the development of its regional market at a CAGR of 12.3% while the slightly stagnant Europe market is anticipated to show a CAGR of 10.6% for the growth of its regional market for antimicrobial coatings over period of 2012 to 2018.
Some of the key players in the global antimicrobial coatings market include names such as E.I. du Pont de Nemours & Company (DuPont), AkzoNobel N.V., Dow Microbial Control, Sherwin-Williams Company, and Sono-Tek Corporations among others.