The antimicrobial coatings market is expected to grow by USD 682.06 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Antimicrobial Coatings Market 2020-2024 (Graphic: Business Wire)
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Nosocomial infections are microbial infections caused because of unhygienic conditions in hospitals and hospital environments. Every year, about 75,000 lives are lost due to such infections. Nosocomial infections also increase the financial burden on healthcare systems. To reduce the incidence of such diseases, hospitals are increasing the use of antimicrobial coated catheters, surgical instruments, and wall cavities as they inhibit the growth of microbes. These factors are fueling the growth of the global antimicrobial coatings market.
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As per Technavio, the growing demand for packaged food will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Antimicrobial Coatings Market: Growing Demand for Packaged Food
Changes in lifestyle and demographics are increasing the consumer preference for preserved foods. This has increased the demand for antimicrobial coated packaging materials to improve the shelf life as well as to reduce wastage of food. Antimicrobial coatings are also used in vessels and containers that are used to process, store, ship, and pack food products. Therefore, the increasing consumption of packaged food is expected to have a positive impact on the growth of the global antimicrobial coatings market during the forecast period.
"Increased adoption of green buildings and the introduction of roughened polydopamine will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Antimicrobial Coatings Market: Segmentation Analysis
This market research report segments the antimicrobial coatings market by geography (North America, Europe, APAC, South America, and MEA) and product (powder coatings and surface modification coatings).
The North America region led the antimicrobial coatings market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the increased demand for improving indoor air quality in the US.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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