5 Major Insights Into The Antiviral & Antimicrobial Coatings Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
In a world grappling with the aftermath of a global pandemic, the demand for antiviral and antimicrobial coatings has skyrocketed. The global antiviral and antimicrobial coatings market, valued at $4.04 billion in 2022, is poised to reach $4.47 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 10.9%. This upward trajectory is anticipated to persist, culminating in a market size of $6.80 billion by 2027, with a projected CAGR of 11%.
Driving Forces: Rising Prevalence of Infectious Diseases
The surge in infectious diseases worldwide has become a catalyst for the growth of the antiviral and antimicrobial coatings market. These coatings, designed to impede the spread of pathogens on surfaces, have become indispensable in the fight against contagious illnesses. Notably, the COVID-19 pandemic, with its global toll of 82 million infections and 1.8 million deaths by the end of 2020, underscores the urgency for effective preventive measures. This grim reality propels the market forward, emphasizing the critical role of antiviral and antimicrobial coatings in public health.
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Key Players in the Arena
The market is steered by major players including Akzo Nobel NV, Lonza Group AG, PPG Industries Inc., and others. These industry leaders contribute to the sector’s growth through continuous research, development, and product innovation. As exemplified by Nippon Paint Co., Ltd., the launch of products like PROTECTON® Floor VK Clear and PROTECTON® Interior Wall VK Coat illustrates the trend of product innovation in the field. These anti-viral and anti-bacterial coatings showcase exceptional durability, demonstrating a 99% reduction in viruses and bacteria on coated surfaces.
As of 2022, North America holds the lion’s share of the antiviral and antimicrobial coatings market. However, the Asia-Pacific region is poised to emerge as the fastest-growing area during the forecast period. The increasing awareness of health and safety measures, coupled with rapid industrialization, contributes to the burgeoning demand for these coatings in the Asia-Pacific region.
The global antiviral and antimicrobial coatings market is segmented based on:
- Type: Antimicrobial Coatings, Antiviral Coatings
- Material: Silver, Organic Materials, Copper, Aluminum, Silicon Dioxide
- Form: Liquid, Powder, Aerosol
- Application: Healthcare, Building And Construction, Food And Beverage, Packaging, Automotive, Protective Clothing, Air And Water Treatment
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In conclusion, the antiviral and antimicrobial coatings market is on an upward trajectory, fueled by the imperative need for effective measures against infectious diseases. As businesses navigate this landscape, strategic players can leverage the insights provided in the Global Market Report 2023 to make informed decisions. Product innovation, strategic partnerships, and an understanding of regional dynamics are key factors for success in this burgeoning market. By staying attuned to market trends and consumer needs, businesses can position themselves to not only meet but exceed the growing demand for antiviral and antimicrobial coatings, contributing to the global efforts in public health and safety.
The The Antiviral & Antimicrobial Coatings Global Market Report 2023 provides a the antiviral & antimicrobial coatings market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The antiviral & antimicrobial coatings market forecast analyzes the antiviral & antimicrobial coatings market size, the antiviral & antimicrobial coatings market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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