Antimicrobial Coatings Market Size, Share & Trends Analysis Report By Application (Construction, Medical Devices), By Product (Antimicrobial Powder Coatings, & Coatings), And Segment Forecasts, 2023 - 2030

Antimicrobial Coatings Market Size, Share & Trends Analysis Report By Application (Construction, Medical Devices), By Product (Antimicrobial Powder Coatings, & Coatings), And Segment Forecasts, 2023 - 2030

Antimicrobial Coatings Market Growth & Trends

The global antimicrobial coatings market size is expected to reach USD 28.43 billion by 2030, registering a CAGR of 13.8% from2023 to 2030, as per the new report by Grand View Research, Inc. Increasing concern among consumers and various manufacturers about cleaning and prevention against the growth of bacteria, mold, and fungi is expected to drive the overall market growth. The demand is expected to increase majorly in the medical devices and packaging application industry owing to arise in demand to tackle the COVID-19 situation around the world.

The continuously rising demand for the medical devices and packaging products used for COVID-19 will positively impact the market growth. North America is expected to dominate the global market, in terms of the product demand as the region has major healthcare product manufacturers. Silver-based biocides are widely used in medical-grade applications owing to their excellent antimicrobial properties. Recently, a new U.S.-based othiazolin-based biocide, n-butyl-1, 2-benzisothiazolin-3-one, is also used as an antimicrobial agent to prevent spread of the germs. Moreover, the rising demand for implantable medical devices and the increasing burden of Cardiovascular Diseases (CVDs) is expected to aid the overall market demand during the next eight years.

Based on products, the global market is segmented into antimicrobial powder coatings and surface modification & coatings. Surface modification and coatings was the prominent product segment and accounted for the largest revenue in 2021. The antimicrobial powder coatings product segment is expected to witness significant growth due to the high demand for silver-based, copper-based, and other coatings. Silver-based coatings are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, high thermal stability, and protection against microbial growth.

Antimicrobial Coatings Market Report Highlights

• North America region witnessed the fastest growth rate with a CAGR of nearly14.7%. The market is growing due to the factors such as strong economic development coupled with population expansion
• The mold remediation segment is expected to witness the fastest growth rate during the forecast period
• The cost involved in remediating a mold-infested building can be staggering, especially when the building has inferior coatings, which is anticipated to be a primary reason for the high growth rate
• The air conditioning and ventilation segment accounted for the largest revenue share in 2022. These products help deter the growth of micro-organisms in Heating, Ventilation & Air Conditioning (HVAC) systems

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