As stated in our extensive report, the Global Antiviral Antimicrobial Coatings Market accounted for3.7 USD Billionin the year 2021.
Initially, surface coatings were restricted to industrial applications such as corrosion prevention and mechanical resistance. However, with the emergence of advanced technologies and recent developments in Nanoscience, nanomaterial/polymer-based coatings have been developed and utilized in various applications including biomedical applications. Apart from the polymer coatings, integration of inorganic/organic nanoparticles with a coating material has been developed as an alternative way to further expand the characteristics of the existing surface coating to meet the rapidly changing demands of healthcare applications. Non-ionic or charged coatings, chemically functionalized coatings, and hydrophilic/hydrophobic coatings are some of the surface coating revealed to influence and alter the properties of nanoparticles. Antiviral & antimicrobial coatings are used to improve the therapeutic function, colloidal stability to prevent agglomeration, and biocompatibility of nanomaterials.
The increase in demand fromthemedical & healthcare sector and construction industry across the globe is anticipated to augment the growth of the Antiviral Antimicrobial Coatings Market during the forecast period. This is attributed to the increasing awareness coupled with government initiatives to prevent the spread of Healthcare-Associated Infections (HAIs). In most healthcare facilities, healthcare-associated infections are considered to be the leading cause of mortality and morbidity. As per the estimations of the Office of Disease Prevention and Health Promotion, about 1.7 million patients are infected by HAIs every year in the US and almost 100,000 patients die from these infections, whereas many more are required to take medical treatment to cure it. These HAIs occur mostly during the treatment procedures, like the insertion of medical devices in the body and breaches in the skin. Most medical devices offer a breeding ground for bacteria and their growth and are impossible to clean or disinfect with conventional antibiotics. Hence, several manufacturers of medical devices and most healthcare facilities have started using antimicrobial coatings on their products. Along with this, the governments of various countries in Europe and North America have also taken initiatives to restrain the growth of HAIs. Furthermore, the construction industry uses antiviral coatings to eliminate viruses on material surfaces such as countertops, doorknobs, floorings, railings, and walls which are also expected to support the growth of the market.
However, the high cost of products and highly skilled labor requirements along with stringent governmental regulations are expected to hamper the growth of the market in the years to come. Moreover, growing usage in novel applications is expected to create immense opportunities for the growth of the market within the forecast period. Additionally, rising demand in HVAC systems is also expected to create opportunities for antiviral & antimicrobial coatings in near future.
North America is projected to grow at the fastest CAGR during the forecast period. This is attributable to the rising prevalence of healthcare-associated infections along with the growing population in the region. Furthermore, the increase in adoption of antiviral & antimicrobial coatings across various industries such as medical & healthcare, food & beverage, and building & construction, among others is also expected to fuel the regional growth of the market.
Some of the prominent players operating in the Global Antiviral Antimicrobial CoatingsMarketincludeAxalta Coating Systems (US), The Sherwin-Williams Company (US), Nippon Paint Holdings (Japan), PPG Industries (US), and DuPont de Nemours (US).