The antimicrobial powder coatings market has witnessed rapid growth in recent years, surging from $1.73 billion in 2023 to $1.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.2%. This expansion during the historic period is attributed to increasing awareness of hygiene standards, stringent regulatory requirements, health concerns, pandemic preparedness, and the demand for consumer goods with antimicrobial properties. Looking towards 2028, the market size is projected to reach $3.04 billion at a CAGR of 11.8%. Key factors influencing this growth include developments in healthcare infrastructure, an expanding food and beverage industry, rising demand in residential construction, preventive measures in public spaces, and increased use in transportation. Major trends in the forecast period encompass integration in building and construction materials, consumer goods and household applications, automotive interior surfaces and components, advancements in formulations for prolonged efficacy, and adherence to regulatory compliance and certification standards.
Major Driver In The Antimicrobial Powder Coatings Market
The escalating concern surrounding the prevention of contamination risks in medical equipment fuels the expansion of the antimicrobial powder coating market. Contamination in medical settings poses threats through the inadvertent introduction of infectious agents like bacteria, viruses, fungi, and other pathogens on equipment, endangering patient health. Healthcare facilities employ antimicrobial powder coatings to shield medical apparatuses such as hospital beds, wheelchairs, and handrails against harmful microorganisms, reducing the risk of hospital-acquired infections. Statistics from the World Health Organization reveal that globally, approximately 7 out of 100 patients in high-income countries and 15 out of 100 patients in low- and middle-income countries contract healthcare-associated infections (HAIs). Alarmingly, one in every ten affected patients succumbs to HAIs on average. Consequently, the heightened emphasis on preventing contamination risks in medical equipment is poised to drive the growth of the antimicrobial powder coating market in the forthcoming years. In 2023, the antimicrobial powder coating market was valued at $A billion and is forecasted to reach $B billion by 2024, further surging to $C billion by 2028.
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Antimicrobial Powder Coatings Market Competitive Landscape
BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Royal DSM N.V., Akzo Nobel N.V., ICL Advanced Additives Ltd., Nippon Paint Holdings Co. Ltd., RPM International Inc., Axalta Coating Systems LLC, Troy Corporation, Berger Paints Ltd., IFS Coatings, IGP Pulvertechnik AG, Teknos Group Oy, DuPont Microbial Control, Gebr. Mankiewicz & Co. GmbH & Co. KG, Diamond Vogel, Aerowood Powder Coating Limited, Microban International Ltd., Protech Group, Sono-Tek Corporation, Rapid Engineering Co Pvt. Ltd., Cupron Inc., Lonza Group AG, Tulip Paints, Pulver Kimya San. ve Tic. A.S., Kastus Technologies Ltd., Topo Powder Coating Co. Ltd., Thermaset Ltd., BioCote Ltd., SANITIZED AG, Hydromer Inc.
Key Antimicrobial Powder Coatings Market Trend
Product innovation is the key trend that is gaining popularity in the antimicrobial powder coating market going forward. Major companies operating in the market are focused on research and development for product innovations to gain a competitive edge in the market. For instance, in September 2023, Microban, a US-based company that specializes in antimicrobial technologies and odor control solutions, launched Ascera, a nature-inspired, patent-pending, next-generation antimicrobial technology. This innovative solution offers lifelong protection for olefinic polymers and solvent-based coatings. With its optimized processing, ease of incorporation, and effectiveness in providing long-lasting antimicrobial protection without heavy metals, Ascera is poised to revolutionize the antimicrobial powder coating market by providing an environmentally friendly and highly efficient solution for the industry.
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Antimicrobial Powder Coatings Market Segmentation
The antimicrobial powder coatings market covered in this report is segmented –
1) By Product: Natural, Organic, Inorganic
2) By Additive: Silver, Zinc, Copper, Other Additive Type
3) By End-Use Industries: Healthcare, Textiles, Electrical and Electronics, Food and Beverages, Building and Construction, Other End-User Industries
By Geography:The regions covered in the antimicrobial powder coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the antimicrobial powder coatings market share in 2023.
The Antimicrobial Powder Coatings Global Market Report 2024 furnishes information about the global antimicrobial powder coatings market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
