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%. 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=204982739
Significant growth in the demand for the HVAC systems in residential, commercial, institutional, and industrial sectors has been witnessed in developed regions, such as the US, EU-5, and BENELUX. Moreover, government regulations and policies, such as tax benefits and incentives for energy conservation, had prompted the demand for HVAC systems.
Mold formation in the HVAC system is a major concern for air quality. During air circulation, the mold spores from the external environment enter into the HVAC system and then get distributed throughout the ductwork and ultimately in the buildings, which leads to the formation of new mold colonies. According to the World Health Organization (WHO), more than 80% of indoor air quality and allergies-related problems are caused due to mold. Several government authorities, such as EPA, WHO, and others, have levied regulations and norms on the indoor air quality at residential, commercial, and institutional buildings. As a preventive measure, the HVAC system manufacturers are applying a layer of antimicrobial powder coatings on the system part, which not only prevents the growth of molds and other bacteria but also reduces the maintenance cost.
Government’s acrpss th globe have also changed the norms and regulations pertaining to indoor air quality due to the COVID-19 pandemic. This, in turn, has resulted in significant growth in demand for the antimicrobial coated HVAC systems in commercial and institutional sectors. Consequently, with the growing awareness and increasing installation and replacement of HVAC systems across the globe, the demand for antimicrobial powder coatings is expected to increase over the forecast period.
The medical & healthcare end-use segment is estimated to be the largest in the antimicrobial powder coatings market
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 are considered to be avoidable, which, further, can be improved by the use of antimicrobial powder coatings.
Antimicrobial powder coatings market in North America is expected to account for the largest share
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).
Request For Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=204982739
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/antimicrobial-powder-coating-market-204982739.html