Knowledge Sourcing Intelligence announces the publication of a new report on “Antimicrobial Coatings Market – Forecasts from 2019 to 2024" to their offering.
Antimicrobial coatings are currently a billion-dollar industry and are immensely used for application to walls, counters, and door handles. Additionally, these are used in frequently touched areas, also known as high-touch areas such as HVAC vents.
This report provides forecast and analysis of the antimicrobial coatings market which is estimated to expand at a CAGR of around 9% over the period of 2018-2024. Antimicrobial coatings help in maintaining surface quality and are helpful in the prevention of rust formation, cracks, bubbles, algae, and fungus. The market is expected to propel during the forecast period due to the growing demand across varied end-user industry verticals. The growing investment by the major players in research and development for future technological advancements in antimicrobial coatings is further driving the market growth in the forecast period. Increasing geriatric population in the developed regions of the world and government regulations are some of the other key factors fueling the market growth. However, previous incidents of health hazards due to the usage of silver in the antimicrobial coatings and governmental interference in many European countries and in the United States are expected to hamper the growth of the global antimicrobial market in the forecast period. Geographically, Americas region is expected to hold a major market share owing to the early adoption of technology followed by Europe. On the other hand, the Asia Pacific region is expected to be the fastest-growing during the forecast period. In the North American region, the market is expected to propel in the forecast period owing to the stringent regulations regarding health and hygiene in hospitals and clinics. Also, high demand from the residential and industrial sectors for HVAC is further boosting the market demand, propelling the market growth in this region.
Furthermore, increasing consumer awareness due to the ill effects caused by the microbes in addition to the growing need in complying with the strict government regulations will provide an opportunity for the market to thrive in the forecast period and in the upcoming years. Moreover, innovation in the field of application of antimicrobial coatings in sectors like wind power will further provide an opportunity for the growth of the global antimicrobial coatings market in the coming years.
On the basis of type, copper antimicrobial coatings are expected to grow with a significant CAGR during the forecast period owing to the growing applications in the healthcare field. Also, the application of copper antimicrobials other than healthcare includes agriculture and marine. Additionally, preference to copper metal over silver metal is due to the growing concerns regarding the ill-effects of silver due to the prolonged exposure of silver metal to the human skin.
Purchase complete report or request sample: www.knowledge-sourcing.com/report/antimicrobial-coatings-market
Some of the major players covered as part of the report are BASF SE, Akzo Nobel N.V., and Specialty Coating Systems Inc.
This report segmented the antimicrobial coatings market on the basis following terms:
By Industry Vertical
- Food and Beverage
- North America
- South America
Europe Middle East and Africa
- Middle East and Africa
- Asia Pacific