Antimicrobial Coatings Market is Anticipated to Grow From $4.52 Billion in 2023 to $9.83 Billion by 2031

WESTFORD, MASSACHUSETTS, UNITED STATES, August 28, 2024 /EINPresswire.com/ -- Antimicrobial coatings market size was valued at USD 4.10 billion in 2022 and is poised to grow from USD 4.52 billion in 2023 to USD 9.83 billion by 2031, growing at a CAGR of 10.20% during the forecast period (2024-2031).

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The antimicrobial coatings industry is projected to experience significant expansion. The need to prevent hospital-acquired infections, rise in attention to food safety, technological advancements, growth of the construction industry, and rise in demand for antimicrobial coatings in electronics and gadgets are some of the factors propelling the significant growth of the global antimicrobial coatings market. The continued growth of the healthcare industry has resulted in a huge increase in global healthcare spending. Antimicrobial coatings are commonly used in hospitals, clinics, and other healthcare facilities to improve patient safety, maintain a clean atmosphere, and reduce the spread of healthcare-associated infections (HAIs).

AkzoNobel and BioCote's Alliance in Antimicrobial Technology

In March 2023, a strategic collaboration was formed between AkzoNobel and BioCote with the objective of broadening the market for the company's antimicrobial powder coatings, marketed under the "Interpon" brand. This partnership enables the application of these coatings on a variety of interior surfaces, including metal office partitions, window frames, elevator doors, ceiling tiles, and doors. Future results from the partnership with BioCote are expected to be quite positive. AczoNobel's cutting-edge powder coating technology and BioCote's antimicrobial expertise have made it possible to better protect common surfaces in both commercial and residential settings against bacteria, fungus, and mold.

3M's New Antimicrobial Coatings for Safer Environments

The following are the key Antimicrobial coatings Trends that will shape the growth of the market in the next 5 years

In February 2023, the 3M Company introduced a new line of antimicrobial coatings. This is for use on medical equipment and other applications. The launch of 3M's new antibacterial coatings should have substantial long-term benefits. These coatings are intended to reduce the risk of healthcare-associated infections (HAIs) by inhibiting the growth of harmful germs on medical equipment. Healthcare-associated infections (HAIs) have the potential to increase patient morbidity, extend hospital stays, and increase costs, making them a significant issue in healthcare settings. When antibacterial qualities are added to coatings for medical equipment, patient outcomes are improved.

Segments covered in Antimicrobial coatings market are as follows:
• Type
o Silver, Copper, Titanium Dioxide, Others

• Application
o Medical and healthcare, Food and Beverage, Building Construction, Protective Clothing, Transportation, HVAC Systems, Others

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Innovations in Antimicrobial Coatings Industry Pioneer Health Standards

In May 2023, PPG Industries declared that it was going to buy a South Korean company that made antimicrobial coatings for electronics and other applications.

In March 2023, a partnership between Nippon Paint Holdings and the University of Tokyo was formed to develop a new antibacterial coating for buildings and infrastructure.

In January 2023, American Paint & Coatings, a producer of antimicrobial coatings for the food and healthcare sectors is acquired by Axalta Coating Systems.

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Verdict on Antimicrobial Coatings

The necessity to shield surfaces from microbes and the rising demand for cleanliness in a variety of industries, such as healthcare, food and beverage, and construction, are what fuel the industry. Hospital-acquired infections are becoming a bigger worry, which is propelling the sector forward overall. The increasing need for sustainable and eco-friendly coatings is one of the main market trends, driving large companies to spend money on R&D to create cutting-edge, biodegradable coatings.

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