Antimicrobial Coatings Market is likely to rise at a CAGR of 12.40% during the p

Posted by Jayashri Tryambak Bhadane on March 13th, 2020

With a demonstrated fragmentation, the vendor landscape in the global antimicrobial coatings market is highly competitive, states a new report by Transparency Market Research (TMR). BASF, Dow Microbial Control, AkzoNobel N.V., Sherwin-Williams Co., E.I. du Pont de Nemours & Co. (DuPont), Diamond Vogel Paints, and Royal DSM N.V. are some of the key vendors of antimicrobial coatings present across the world. Strategic partnerships between international and local vendors can be observed in the years to come, notes the research study.

As per the research report, the global antimicrobial coatings market is likely to rise at a CAGR of 12.40% during the period from 2012 to 2018, registering a tremendous growth. Surface modifications and coatings and antimicrobial powder coatings are the two main products available in this market. Among the two, antimicrobials coatings report a higher consumption. This trend is expected to remain the same over the next few years. Mold remediation, medical/healthcare, construction, indoor air quality, antimicrobial textiles, and food have surfaced as the main application area of antimicrobial coatings, states the market report.

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North America to Continue to Dominate

The report further presents a regional analysis of the global antimicrobial coatings, according to which, Asia Pacific, North America, Europe, and the rest of the world are the main geographical segments of this market. Among these, North America has been leading the global market and is expected to continue to do so over the forthcoming years. The main factor behind the dominance of the North America market for antimicrobial coatings is early adoption of innovative practices and technologies, which enhance the health and the quality of living of humans. With the recent economic developments, Asia Pacific is also expected to register a significant increase in its market for antimicrobial coatings in the years to come, reports the market study.

Technological Advancements to Support Market’s Growth

“The global market for antimicrobial coatings is witnessing a tremendous rise, thanks to the increasing awareness regarding the benefits antimicrobial coatings offer, such the additional layer of security against various harmful microorganisms,” says an analyst at TMR. With continuous technological advancements, the global market is anticipated to remain reporting significant growth over the next few years. However, the presence of stringent environmental regulations may hamper the market in the years to come. The increasing need for efficiency and innovation in products for textile applications may also limit the market’s growth in the near future, states the research report.