CHICAGO, Sept. 16, 2020
CHICAGO, Sept. 16, 2020 /PRNewswire/ -- According to the new market research report "Antimicrobial Powder Coatings Market by Additive Type (Silver, Zinc, Copper & Others), End-use Industry (Medical & Healthcare, Appliances, HVAC, Food Equipment, General Industry, Transportation, Fitness Equipment), & Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Antimicrobial Powder Coatings Market size is projected to grow from USD 1.5 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 12.0%.
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There has been an increase in demand for antimicrobial powder coatings in various industries such as medical & healthcare, HVAC, and appliances which is expected to drive the market. With the growing concern and rising awareness about safety and hygiene across the globe, several manufacturers, such as consumer goods and electronics manufacturers, are focusing on the development of antimicrobial products. It will help to comply with changing consumer preferences and market demand.
The silver segment is estimated to account for the largest share of the Antimicrobial Powder Coatings Market, by additive type, during the forecast period.
Silver additive type dominates the global Antimicrobial Powder Coatings Market. Silver-ions are predominately used as an antimicrobial additive in these coatings, owing to the high efficacy rate, safety, cost-effectiveness, durability, and other benefits associated with the use of these ions. Furthermore, these additives provide effective and long-lasting surface protection without affecting the substrates physicochemical properties and structural qualities.
The medical & healthcare end-use segment is estimated to be the largest in the Antimicrobial Powder Coatings Market during the forecast period.
The medical & healthcare industry accounted for the largest share, in terms of value, of the Antimicrobial Powder Coatings Market in 2019. In this industry, the growing concern about hospital-acquired infections (HAIs) and their related impact on humans are the major driving factors for the Antimicrobial Powder Coatings Market. Through better infection prevention and control practices, a significant share of HAIs is avoidable, which, further, can be improved using antimicrobial powder coatings.
Antimicrobial Powder Coatings Market in North America is expected to account for the largest share during the forecast period.
North America is the world's largest Antimicrobial Powder Coatings Market, with the US being the dominant market in the region. The North American antimicrobial coatings market is driven by the rising demand from the medical & healthcare sector to inhibit the growth of bacteria and microbes causing HAIs. Also, due to the stringent regulations pertaining to the indoor air quality, the HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the required air quality by inhibiting the growth of mold and bacteria.
There are a large number of end-users in the Antimicrobial Powder Coatings Market and a limited number of coating manufacturers. In addition, due to the COVID-19 pandemic, the demand for antimicrobial coatings has been increasing in the medical & healthcare industry. Antimicrobial coatings have gained significant attention and were applied in the several temporary and existing healthcare facilities during the pandemic.
Major players operating in the Antimicrobial Powder Coatings Market are PPG Industries, Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), Axalta Coating Systems LLC (US), and Berger Paints India Ltd (India).
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