Antiviral & Antimicrobial Coatings Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Material (Silver, Organic Material, Copper, Titanium Oxide, and Others); Form (Liquid, Powder, and Aerosol); Application (Healthcare, Building & Construction, Food & Beverage, Packaging, Automotive, and Others); Region/Country
Global Antiviral & Antimicrobial Coatings Market is anticipated to grow with an elevated CAGR of around 11% over the forecast period (2021-2027). Antiviral & antimicrobial coatings are applied to the various equipment and other appliances that restrict the growth of various viruses and other microorganisms. These coatings help in maintaining permanent hygiene by providing long-lasting protection against microorganisms.
With rapid technological advancement and rising investment in research & development of these coatings, many of the antiviral & antimicrobial coatings market players are launching new and innovative products which in turn is driving the market all over the globe. For example, in May 2021, the COMEX brand by PPG has recently launched Comex VINIMEX TOTAL Antiviral and Antibacterial paint that reduces up to 99.9% of bacteria and viruses responsible for the most common gastrointestinal and respiratory illnesses, including Influenza A H1N1 and the COVID-19 virus, SARS-CoV-2. Furthermore, the growing awareness regarding the use of these coatings to maintain hygiene is further boosting the growth of this market.
Furthermore, the rising prevalence of infectious diseases and hospital-associated infections coupled with the rapidly growing applications in various sectors including automotive, food & beverages, construction, and many more. Besides, the market is also growing significantly owing to the rising demand for antimicrobial coatings for making protective clothing to fight against COVID-19. In view of this, many of the established market players and startups are developing a variety of protective clothing. For example, in 2020, IIT developed spray–based antimicrobial coatings for Personal Protective Equipment, including face masks, which can kill over 99.9% of bacteria and viruses.
Healthcare-Associated Infections: The Unknown Killer
Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., DuPont De Nemours, Inc., PPG Industries Inc, Lonza Group Ltd, NanoGraphene Inc, Sika AG, BASF SE, RPM International Inc., Sciessent LLC, are some of the prominent players operating in the antiviral & antimicrobial coatings market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of antiviral & antimicrobial coatings.
Insights Presented in the Report
“Amongst Material, Silver segment holds the major share”
Based on material, the antiviral & antimicrobial coatings market is segmented into silver, organic material, copper, titanium oxide, and others. The silver segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. This is because silver has been used most widely as anti-bacterial and anti-viral as it is toxic to microorganisms and has not shown any harmful effects on human beings. However, the copper segment is also expected to garner a significant market share as it has abundant natural occurrences.
“Amongst Form, Liquid segment holds the major share”
Based on form, the antiviral & antimicrobial coatings market is divided into liquid, powder, and aerosol. The liquid segment occupied the major share of the Antiviral & Antimicrobial Coatings market in 2020 and it is expected to grow with substantial CAGR in the upcoming years. The growth of this segment is attributed to the high preference for this type of coating by the end-users as liquid coating ensures better protection against corrosion and the provision of uniform finishing in comparison to the powder coatings.
“Amongst Application, Healthcare segment holds the major share”
Based on application, the market is fragmented into healthcare, building & construction, food & beverage, packaging, automotive, and others. In 2020, the healthcare segment grabbed the considerable market share, and it is expected to grow at the significant CAGR during the forecast period as these coatings are widely used in hospitals, surgical facilities, and dental clinics for creating a protective coating on equipment as they are more prone to spread infections.
“North America represents one of the largest markets of antiviral & antimicrobial coatings market”
For a better understanding of the market dynamics of the antiviral & antimicrobial coatings market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the antiviral & antimicrobial coatings market industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Global Antiviral & Antimicrobial Coatings Study|
|2.1||Research Methodology for the Global Antiviral & Antimicrobial Coatings Market|
|2.1.1||Main Objective of the Global Antiviral & Antimicrobial Coatings Market|
|6||GLOBAL ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET REVENUE|
|9.2||Building & Construction|
|9.3||Food & Beverage|
|10.1||NORTH AMERICA ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET|
|10.1.3||Rest of North America|
|10.2||EUROPE ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET|
|10.2.6||Rest of Europe|
|10.3||ASIA PACIFIC ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET|
|10.3.5||Rest of Asia Pacific|
|10.4||REST OF THE WORLD ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET|
|12||ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET OPPORTUNITIES|
|13||ANTIVIRAL & ANTIMICROBIAL COATINGS MARKET TRENDS & INSIGHTS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1||Demand Side Analysis|
|15.2||Supply Side Analysis|
|15.2.1||Top Product Launches|
|15.2.2||Top Business Partnerships|
|15.2.3||Top Merger & Acquisitions|
|16||VALUE CHAIN ANALYSIS|
|17.1||Porter’s Five forces analysis|
|17.1.1||Bargaining power of Supplier|
|17.1.2||Bargaining power of Buyer|
|17.1.4||Availability of Substitute|
|17.1.5||Threat of new Entrants|
|18.1||DuPont De Nemours, Inc.|
|18.1.3||Key Product/Services Offerings|
|126.96.36.199||Financial Overview of DuPont De Nemours, Inc.|
|188.8.131.52||Business Expansion and Investments|
|184.108.40.206||Merger and Acquisition|
|18.2||Akzo Nobel N.V.|
|18.3||Nippon Paint Holdings Co., Ltd.|
|18.4||PPG Industries Inc|
|18.5||Lonza Group Ltd|
|18.9||RPM International Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global antiviral & antimicrobial coatings market were the three major steps undertaken to create and analyze the adoption of antiviral & antimicrobial coatings in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global antiviral & antimicrobial coatings market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the antiviral & antimicrobial coatings through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the antiviral & antimicrobial coatings market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as material, form, and application. Further country-level analyses were conducted to evaluate the overall adoption of antiviral & antimicrobial coatings across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the antiviral & antimicrobial coatings . Further, we conducted factor analysis using dependent and independent variables such as food & beverage industry and growing awareness regarding the use of antiviral & antimicrobial coatings. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the antiviral & antimicrobial coatings sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the antiviral & antimicrobial coatings market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of antiviral & antimicrobial coatings across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the antiviral & antimicrobial coatings market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the antiviral & antimicrobial coatings market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material, form and application of the antiviral & antimicrobial coatings market.
The main objective of the Antiviral & Antimicrobial Coatings Market Study
The current & future market trends of antiviral & antimicrobial coatings were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of antiviral & antimicrobial coatings in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of of material, form, and application
- Define and analysis of the regulatory framework for the antiviral & antimicrobial coatings industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the antiviral & antimicrobial coatings market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
- Company profiles of the antiviral & antimicrobial coatings market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry