Antimicrobial Coatings Market

Market Overview

The global antimicrobial coatings market size was valued at USD 9087.34 million in 2021 is expected to reach a valuation of USD 27,607.54 million by 2030. The market is expected to grow at a CAGR of 13.25% during the forecast period (2022–2030).

An antimicrobial coating is a chemical substance applied to a surface to prevent disease-causing microorganisms from growing. These coatings improve the surface's durability, appearance, corrosion resistance, and so on, but they also protect it against disease-causing bacteria. Chemicals are used in antimicrobial coatings to prevent pathogen growth by disrupting cellular membranes. Antimicrobial coatings are commonly used in to protect both surfaces and humans. Materials like graphene, polycationic hydrogel, silver nanoparticles, polymer brushes, dendrimers, copper, and its alloys are mainly used to produce antimicrobial coatings.

Market Dynamics

Market Drivers

The Rise in Worldwide Healthcare Expenditure

Healthcare spending in the United States surged by 4.60% in 2018, reaching USD 3.6 trillion, according to the US Centers for Medicare & Medicaid Services. In 2018, healthcare spending accounted for over 17.70% of the country's gross domestic product, which is likely to continue during the forecast period. According to the same source, healthcare spending in the United States is expected to surge at a 5.40% annual rate from 2019 to 2028, reaching USD 6.2 trillion.

The increased need for medical care among the aging population (65 years and older), the rise in the prevalence of chronic ailments and diseases, infrastructure improvements, and technological breakthroughs are likely to drive this rapid growth. As a result, the medical device market is expected to grow, raising the demand for antimicrobial coatings.

The development of Western European economies is likely to result in more healthcare spending being included in annual budgetary proposals. The growth of Brazil's healthcare industry is expected to raise healthcare spending across Central and South America. Also, the expanding consumer affluence in markets such as China and India is set to drive the Asian healthcare business. The robust healthcare industry in India, together with the expansion of medical tourism, is likely to heave demand for antimicrobial coatings in the medical sector.

Market Drivers

Growth of the Medical Devices Industry

Antimicrobial coatings can be found on various medical devices, including catheters, implanted devices, and surgical instruments. Antimicrobial coating technology is one of the most effective ways to improve infection control in healthcare without jeopardizing patient care. Medical devices are more likely to become infected, resulting in healthcare-associated infections (HAI). As a result, antimicrobial coatings on medical devices help to prevent bacteria and germs from growing and spreading.

The medical device sector is flourishing rapidly all around the world. Medical device demand is being driven by increased healthcare spending, the growing home healthcare sector, the growing senior population, particularly in North America and Europe, and the rising incidence of cardiovascular diseases.

Furthermore, increased demand for better healthcare facilities and an increase in the number of hospitals have encouraged the medical device industry's growth. In 2020, North America overtook Europe as the world's largest market for medical equipment. The need for medical devices is being fueled by rising healthcare spending and the presence of well-equipped hospitals and healthcare centers in North America. Thus, the growing demand for medical devices will likely drive the demand for antimicrobial coatings over the forecast period.

Market Restraints

Stringent Environmental Regulations

One of the most significant trends in the healthcare sector is the usage of antimicrobial coatings in healthcare products, especially medical devices. Antimicrobial coatings suppliers have been forced to meet the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), Biocidal Products Regulation (BPR), International Organization for Standardization (ISO), and ASTM International's safe administration and antibacterial properties standards. Over the forecast period, this is expected to impede the market for antimicrobial coatings.

Also, rising environmental concerns insignificant raw material-producing countries such as China, the United States, and India, among others, are likely to have an impact on zinc and copper output and prices. For example, China's government has enacted strict environmental restrictions to limit emissions created by industrial sectors.

Zinc and copper production has been harmed due to a more environmentally conscious attitude. Increasing costs of complying with environmental regulations in the country have led to the closure of mining operations, mainly small-scale operations. This is likely to impact raw material prices and the overall cost of antimicrobial coatings impeding the market growth.

Market Opportunities 

Surging Adoption in Novel Applications

Several sectors, such as protective apparel, consumer goods, and electronic gadgets, have seen considerable demand for antimicrobial coatings due to the COVID-19 outbreak. Many established companies and startups are working on protective garments to prevent COVID-19 infection.

For example, The Indian Institute of Technology (IIT) announced in April 2020 that it had developed spray-based antimicrobial coatings for Personal Protective Equipment (PPE), such as face masks, that will destroy over 99.9% of viruses and germs. To prevent COVID-19, an IIT-Madras startup designed clothes containing antibacterial fabric in April 2020.

Several manufacturers, including textile, consumer goods, and electronics, are focusing on developing antimicrobial products in response to the growing awareness about safety and hygiene worldwide. It will make it easier to adapt to shifting consumer trends and demands.

Regional Analysis

North America Dominates the Global Market

The global antimicrobial coatings market has been segregated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.

With an expected market value of USD 12,995.42 million by 2030, registering a CAGR of 14.10%, North America is expected to be the largest market for antimicrobial coatings. Over the forecast period, rising demand for minimally invasive surgeries, innovative implant devices, and the availability of modern healthcare infrastructure are likely to be among the favorable growth factors in the United States.

By 2030, the United States is likely to dominate the North American antimicrobial coatings market share , and it will be one of the region's fastest-growing markets. High demand for advanced healthcare services is expected to drive demand for medical devices, boosting demand for antimicrobial coatings over the forecast period, owing to the availability of well-developed healthcare infrastructure, and reimbursement coverage, in the country.

With an expected market value of USD 7,131.19 million by 2030, registering a CAGR of 13.85%, Asia-Pacific is expected to be the second-largest market for antimicrobial coatings. The primary end-use sectors, including construction, healthcare, and food processing and packaging, will likely drive the market. The regional market is expected to rise due to the robust manufacturing base of the packaging products sector in China, Japan, and India and the growing sales of e-commerce and packaged food products.

Furthermore, the government of India's favorable policies, such as Foreign Direct Investment (FDI) and Make in India, are likely to provide significant growth opportunities for the healthcare and food processing industries, resulting in surged use of antimicrobial coatings in the region. In addition, rising hospital renovations to lower the prevalence of viral outbreaks and infections are anticipated to heave market growth over the forecast period.

By 2030, China will likely dominate the Asia-Pacific antimicrobial coatings market, and it will be one of the region's fastest-growing markets. The growth can be linked to rising private and public healthcare spending and increasing disease rates in the country. Also, the growing aging population is likely to significantly impact the healthcare industry, positively impacting the market over the forecast period.

Segmental Analysis

The global antimicrobial coatings market has been classified based on the product, application, and region.

The antimicrobial coatings market has been segmented into antimicrobial powder coatings, surface modifications, and coatings based on product. The surface modifications and coatings segment is expected to dominate the global market, and it is projected to reach USD 14,687.32 million by 2030, registering a CAGR of 13.25% during the forecast period.

Surface modification is the process of altering a material's surface by adding physical, chemical, or biological features that differ from those found on the material's surface originally. Although this modification is usually done to solid objects, it is possible to see examples of it being done to the surface of liquids. Surface modifications and coatings are likely to lead to product demand globally due to their distinctive qualities such as surface adhesion prevention, antimicrobial-eluting, antibacterial, and Osseointegration promotion.

The antimicrobial coatings market has been segmented into sanitary facilities and kitchens, air conditioning and ventilation systems, food processing and packaging, antimicrobial textiles, mold remediation, and medical devices based on application. The medical devices segment is expected to dominate the global market, and it is projected to reach USD 9,995.11 million by 2030, registering a CAGR of 11.68% during the forecast period.

Antimicrobial coatings protect the surfaces of medical equipment from pathogens such as fungi, parasites, bacteria, and germs and are expected to grow significantly in revenue over the forecast period. In the context of the COVID-19 pandemic, rising hospital development due to the increased need for healthcare facilities is anticipated to boost demand for sophisticated gadgets and equipment, driving the market growth during the forecast period.

Impact of covid-19

COVID-19 positively influenced the antimicrobial coatings market growth, owing to the emergence of the COVID-19 pandemic. The urge for antimicrobial coatings has surged in the medical and healthcare sectors. During the COVID-19 pandemic, antimicrobial coatings received a lot of attention. They were used to prevent hospital-acquired infections (HAIs) at many temporary and existing healthcare facilities.

The United States was particularly hard hit, with the highest number of infected people. As of May 2020, the government spent over USD 600 million on the construction of temporary facilities to treat patients. To ensure the ultimate safety of humans, touch surfaces such as handles, beds, instruments, medical devices, and protective gear were coated with antimicrobial coatings as a preventive step. Silver-based antimicrobial coatings were used in the medical and healthcare industries for the same reason. For example, to prevent COVID-19, Axalta Coating System provided 7,000 pounds of silver-based antimicrobial coating to temporary facilities in Chicago.

Market Recovery Timeline and its Challenges

The post-pandemic phase will be significant for the global antimicrobial coatings market. The market will face a slight slowdown in growth as the COVID-19 pandemic passes. Other reasons, such as the growing importance of hygiene to avoid infections across the globe, will continue to propel the market growth during the forecast period. Overall, the global antimicrobial coatings market will recover quickly, showing positive signs of growth post-pandemic.

Recent Developments

• May 2021- HeiQ developed HeiQ MetalliQ, a high-tech surgical mask that kills all bacteria and viruses, tested with a 100% efficacy rate. The mask, which has a proprietary design, has an ultra-thin copper coating deposited using a high-tech vapor deposition process called HeiQ Metallix.
• November 2020- PPG Industries, Inc. announced the debut of antibacterial matt paint under the JOHNSTONE brand, aiming to limit bacterial growth on home walls and thereby enhance the company's product offering.
• May 2020- Akzo Nobel NV produced Interpon D AM. This architectural powder coating may be used on various internal surfaces such as window frames, ceiling tiles, metal office partitions, metal doors, and elevator doors, thereby expanding the company's product portfolio.
• July 2020- Using Lonza's GS Xceed Expression System, Lonza has collaborated with Shanghai Junshi Biosciences Co., Ltd to develop a neutralizing antibody to combat the COVID-19 pandemic.
• December 2020- The launch of Nippon Paint's first antiviral kid's paint in China has been announced by Nippon Paint China and Corning Incorporated. Kid's Odour-less is a new product from the company. Anti-bacteria plus all-in-one interior emulsion paint developed for use in areas where children spend the most time.
• April 2020- In Brazil, Germany, Mexico, the United States, and others, Axalta Coating Systems began producing thousands of liters of hand sanitizers, PPE kits, face masks, respirators, and closed hoods and arm warmers, and seating covers for medical and healthcare professionals.