DUBLIN, Feb. 8, 2021 /PRNewswire/ — The “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” report has been added to ResearchAndMarkets.com’s offering.
The antimicrobial powder coatings market is projected to grow from USD 1.5 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 12.0%, between 2020 and 2025.
The market is majorly driven by increased demand from the medical & healthcare industry. This is mainly attributed to the growing awareness and government initiatives to prevent the spread of HAIs. As a precautionary measure, several medical device manufacturers and healthcare facilities have started applying antimicrobial powder coatings on their products.
The silver additive type segment is expected to hold the largest share of the overall antimicrobial powder coatings market during the forecast period.
The silver additive type segment accounted for the largest share of the overall antimicrobial powder coatings market in 2019. Silver-based antimicrobial powder coatings have high efficacy against viruses, bacteria, and other eukaryotic micro-organisms, owing to which they are widely used across the industrial sector, especially in the medical & healthcare, food & beverage, and HVAC system industries.
The antimicrobial powder coatings market in the medical & healthcare end-use industry is expected to hold the largest share 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. While antimicrobial powder coating is growing in several sectors, including air conditioning, ventilation, and food, the healthcare segment is rapidly dominating the market. This is due to the widespread use and applications for powder coatings in healthcare facilities and environments. Antimicrobial powder coatings can be applied on the surfaces of wood, plastics, and metals, among other substrates, and have high durability and long-lasting effect, owing to which these coatings are mainly preferred in the medical & healthcare industry.
APAC antimicrobial powder coatings market is estimated to register the highest CAGR during the forecast period.
Countries, such as China and India, are rapidly expanding their healthcare infrastructure, and thereby an increase in demand for medical equipment is seen in these countries, while emerging Southeast Asian nations, such as Vietnam and the Philippines, hold significant growth potential. Thus, the market is spurred by a rapid expansion of the healthcare sector, eventually boosting the antimicrobial powder coatings market in APAC.
The key companies profiled in this report are the PPG Industries, Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), Axalta Coating Systems LLC (US), Berger Paints India Ltd (India).
Report Summary
- Antimicrobial Powder Coatings Market Snapshot, 2020 Vs. 2025
- Silver-Based Coatings Accounted for the Largest Market Share In 2019
- Medical & Healthcare is the Largest Market Segment in 2020
- North America Accounted for the Largest Market Share in 2019
Market Dynamics
Drivers
- Healthcare Industry to Drive the Market Growth During and Post-COVID-19 Pandemic
- Increase in Demand for HVAC Systems
- Growing Awareness to Increase the Demand from the Food & Beverage Industry
Restraints
- Costly in Comparison to Other Coating Products
- Stringent Governmental Regulations
Opportunities
- Rising Usage in Novel Applications
Challenges
- Growing Concerns About the Toxicity of Nanoparticles
Company Profiles
- Aerowood Powder Coating Limited
- Akzonobel N.V.
- Axalta Coating Systems LLC
- Berger Paints India Ltd
- Dulux Powder and Industrial Coatings
- IFS Coatings Inc.
- IGP Pulvertechnik Ag
- Kastus Technologies
- PPG Industries
- Protech-Oxyplast Group
- Pulver Kimya San. Ve Tic. A.S.
- Rapid Coat Powder Coatings
- Sherwin-Williams Company
- Topo Powder Coating Co. Ltd
- Tulip Paints
For more information about this report visit https://www.researchandmarkets.com/r/4gdk4f
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