Growing usage of antimicrobial coatings in the medical industry is the primary factor driving market revenue growth.

Antimicrobial Coatings Market Overview:

In 2021, the global antimicrobial coatings market was valued at USD 9.02 Billion and is projected to experience a substantial revenue CAGR of 13.9% over the forecast period. The main factor driving market growth is the increasing use of antimicrobial coatings in the medical industry. Antimicrobial coatings for plastic surfaces are used in healthcare facilities, catering establishments, washrooms, and other areas to reduce the presence of odor-causing bacteria and product degradation.

The coatings are used to lower the risk of infection during medical procedures involving catheters, surgical equipment, medical electronics, medical instruments, trays, and other items, which is driving demand for the product and boosting market revenue growth. For example, research shows that catheter use leads to roughly 80,000 bloodstream infections each year in the United States, with 0.5% of pacemaker recipients developing a serious infection.

Antimicrobial Coatings Market Segments:

The global antimicrobial coatings market was valued at USD 9.02 Billion in 2021, and is expected to achieve a revenue CAGR of 13.9% during the forecast period, leading to a revenue forecast of USD 29.11 Billion in 2030. The base year for estimation is 2021, and historical data has been collected for the years 2019-2020, while the forecast period is from 2021-2030. The quantitative units used in the report are revenue in USD Billion, and the report covers revenue forecast, company ranking, competitive landscape, growth factors, and trends. The segments covered include Type Outlook, Application Outlook, Product Outlook, and Regional Outlook.

The primary factor driving the revenue growth of the antimicrobial coatings market is the growing usage of antimicrobial coatings in the medical industry. Antimicrobial plastic coating helps to improve the surfaces in healthcare facilities, catering facilities, washrooms, and other locations by reducing the presence of bacteria that cause odor creation and product degradation. These coatings are utilized to reduce the risk of infection during medical procedures on catheters, surgical equipment, medical electronics, medical instruments, trays, and others, which is creating a demand for the product and driving market revenue growth.

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Antimicrobial Coatings Market Strategic Developments:

There have been several strategic developments in the antimicrobial coatings market in recent years, including:

Product Launches: Companies in the antimicrobial coatings market have been launching new products to meet the increasing demand for antimicrobial coatings in various industries. For instance, in August 2020, AkzoNobel launched an antimicrobial powder coating called Interpon AM, which is designed to inhibit the growth of bacteria and other microbes on coated surfaces.

Collaborations and Partnerships: Many companies in the antimicrobial coatings market are collaborating with other companies and organizations to develop new products and expand their presence in different regions. For instance, in December 2020, PPG Industries announced a partnership with the University of Michigan to develop new coatings that can help prevent the spread of infectious diseases.

Mergers and Acquisitions: Companies in the antimicrobial coatings market are also engaging in mergers and acquisitions to expand their product portfolio and increase their market share. For instance, in January 2021, AkzoNobel acquired Stahl Performance Powder Coatings and its range of antimicrobial powder coatings, which are designed for use in hospitals, schools, and other high-traffic areas.

Investments in Research and Development: To stay competitive in the market, many companies are investing heavily in research and development to develop new and innovative antimicrobial coatings. For instance, in October 2020, PPG Industries announced plans to invest over $10 million in a new research and development facility in Pennsylvania, USA, to develop new antimicrobial coatings and other products.

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Antimicrobial Coatings Market Competitive landscape:

The global antimicrobial coatings market has a fragmented competitive landscape with several key players operating on both global and regional levels. These players are focusing on product development and strategic alliances to expand their respective product portfolios and establish a strong presence in the global market. Some major companies that are profiled in the market report include Akzo Nobel N.V., Crunchbase Inc., Lonza, Diamond Vogel, DuPont, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., RPM International Inc., DSM., and Sono-Tek Corporation.

On 27 May 2020, ZetaDisplay AB collaborated with Kastus, an Irish firm, to provide the benefits of their unique antibacterial surface-coating technology to touchscreen users. This collaboration aims to prevent up to 99.99% of surface bacteria and fungi, including antibiotic-resistant superbugs such as MRSA and E. coli. Such strategic collaborations between key players are expected to drive market growth and help in the development of innovative products.

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