Anti-Viral Coatings Market

Market Overview

The global anti-viral coatings market size was valued at USD 738 million in 2022. It is projected to reach USD 2512 million by 2031, growing at a CAGR of 14.58% during the forecast period (2023–2031).

The potential benefits of anti-viral coatings in healthcare, manufacturing, and the home drive increased interest in their study. It has been scientifically demonstrated that anti-viral coatings can increase the longevity of the paint. Their resistance to viruses and mold reduces the danger of premature product degradation. There is an ongoing study to determine how anti-viral coatings might be employed in public places. While these coatings are known to contain chemicals able to limit the growth of microbes on the surfaces of materials, there are still significant regulatory and technological hurdles to overcome.

Market Dynamics

What are the Primary Factors driving the Market for Anti-Viral Coatings?

Increase in Demand for Protective Clothing amidst Pandemic

All materials offer some degree of protection, but protective clothing is designed to shield the wearer from dangers that could endanger their life or cause serious bodily harm as they do their regular tasks in an unsafe environment. Protective clothing aims to shield the wearer or their product from harm by isolating them from potentially harmful environmental factors. Depending on the field, protective workwear may be designed to withstand flames and high temperatures, chemicals, low temperatures, impact and mechanical forces, and even ultraviolet light. In addition, the demand for personal protective equipment kits, face masks, and gloves are currently high, helping propel the market forward.

Surge in Applications in the Medical Industry

Medical researchers and practitioners have long been concerned with finding techniques to stop the transmission of certain viruses. The medical business has long made use of multiple coatings in a variety of forms. Hospitals and clinics have strict protocols for disinfecting and sanitizing their facilities regularly to stop the transmission of germs and bacteria. The necessity to clean or disinfect everyday touchpoints, including medical equipment, door knobs, doors, taps, beds, washrooms, and walls, is driving up demand for anti-viral coatings, especially amid the epidemic. Strict regulations have boosted the market for anti-viral coatings to ensure the public's health and well-being.

What are the Main Factors that will slow down the Market for Anti-Viral Coatings?

Lack of R&D Activities

There have been anti-viral coatings available for quite some time. A smaller market for anti-viral coatings existed since consumers were unaware of their existence and effectiveness. The market expansion was hindered further by the ineffective efficacy of anti-viral coatings. Existing coatings that provide anti-viral qualities have several shortcomings and drawbacks, which also hinder the expansion of the anti-viral coatings industry. More new developments in the anti-viral coatings industry need to be introduced, making it less competitive. The market requires a high initial investment, and the distribution routes are only moderately profitable.

What are the Future Opportunities for Anti-Viral Coatings?

Increased Investment from Market Players and the Government

A solution that can protect you from the virus is urgently needed after the global pandemic that has affected many people. Some anti-viral coatings can kill the virus, while others can only contain it on the coated surface, limiting its transmission. Because of the necessity, the government and industries are investing heavily in R&D operations for vaccines and coating solutions. It will give attractive chances for market expansion.

Regional Analysis

The global anti-viral coatings market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global anti-viral coatings market. The market for antiviral coatings in North America is examined throughout the United States, Canada, and Mexico. Regarding regional market share, the United States is far ahead of its nearest competitor, Canada. Mexico has one of the minor market shares. The pace of expansion in North America is anticipated to be the most significant worldwide during the predicted horizon.

Asia-Pacific is expected to grow during the forecast period. The antiviral coatings industry in Asia-Pacific is broken down by country, including China, Japan, India, Australia, South Korea, and the rest of the region. In terms of market share, China is far and away the region's most influential country, followed closely by Japan. Compared to other countries, South Korea has a tiny market share. During the pandemic, the Asia-Pacific region was hit harder than other areas, especially economically, because of its inadequate healthcare infrastructure and the resulting high number of cases. Furthermore, regional demand for antiviral coatings was low but is anticipated to increase during the forecast period.

Europe was the worst hit, with countries like Spain and Italy suffering the most due to sluggish economic growth caused by widespread lockdowns. Regarding regional market share, Germany is way out in front, followed by France. There is the smallest percentage of the market held by Italy. In recent years, the region's economy has declined. The shutdown severely harmed the European economy because it disrupted the demand-supply chain. However, when the epidemic's effects begin to subside, and countries begin working to restore their economies and healthcare systems, demand for anti-viral coatings is expected to skyrocket.

Segmental Analysis

The global anti-viral coatings market is segmented by type of coatings, type of materials, application, and form.

Based on the type of coatings, the global anti-viral Coatings market is bifurcated into high-performance coatings, nano coatings, and others.

The high-performance coatings segment is the highest contributor to the market. Coatings with high-performance levels have exceptional mechanical and physical characteristics. They don't rust, get mildewed, or breed microbes. Besides improving the aesthetics of a surface, high-performance coatings offer several functional benefits, including resistance to corrosion, abrasion, and impact, as well as resistance to chemicals and heat. Critical areas for expansion include social infrastructure, schools and hospitals, government housing, water, defense infrastructure, and water resources. Healthcare, commercial, and office construction also significantly increased outside the residential sector.

Based on the type of material, the global anti-viral coatings market is bifurcated into graphene, silicon dioxide, silver, copper, and others.

The silver segment is the highest contributor to the market. Silver has been a medication for many conditions, including the bubonic plague, since ancient times. Colloidal silver, simply a suspension of pure metallic silver in water, has been shown to significantly lower HIV activity in AIDS patients, limit the progression of hepatitis C virus damage, and fight other viruses. While the antibacterial effects of silver nanoparticles on bacteria have received the bulk of the research attention, these particles have also been shown to be effective against several different viruses.

Based on application, the global anti-viral coatings market is bifurcated into protective clothing, medical, air & water treatment, packaging, building & construction, and others.

The medical segment is the highest contributor to the market. Medically functional anti-viral coatings are found on a wide variety of everyday items that come into touch with people, including doors, handles, window handles, bed knobs, curtain rods, light switches, and more. It is especially true of items used in healthcare facilities like hospitals and clinics. The medical uses of anti-viral coatings on everyday contact objects cause market expansion. As a result, the need for anti-viral coatings to assist in curbing the epidemic should drive the market forward in the years to come.

Based on form, the global anti-viral coatings market is bifurcated into spray, powder, liquid, and others.

The liquid segment is the highest contributor to the market. Carriers, additives, pigments, and resins are the primary components of a liquid coating. Solvent's intense cleaning action and ability to prime the surface for paint adhesion are two of how it aids in preparing the metal surface. Conventional coating procedures often employ liquid coatings to provide complex metal parts an attractive finish and corrosion protection. When applied, liquid coatings do not dry to a substantial thickness. Even though it's crucial to disinfect high-contact surfaces to stop the transmission of germs, these areas are often quickly re-contaminated after being treated with traditional surface disinfectants. Coatings that can be applied in liquid form are beneficial now and are also straightforward to apply.

Recent Developments

• June 2020- The largest paint and coatings producer in Asia, NIPSEA Group, has announced the launch of an anti-virus coil coating solution to aid in China's and the global community's fight against infectious diseases.
• October 2020- Yamamoto Holding Co. Ltd.'s patented antiviral glass coating technology, Dr. HardoLass, was introduced in Japan and has now made its way to India thanks to Nohara India.