Technavio, a tech-focused market research firm, has published a new report on the global antimicrobial coatings market, which is expected to grow at a CAGR of more than 14% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global antimicrobial coatings market into the following key regions: APAC, Europe, North America, and ROW.
Source: Technavio
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Top three contributors for the global antimicrobial coatings market are elaborated below
Antimicrobial coatings market in North America: The market for antimicrobial coatings in North America is currently in a mature stage owing to product penetration and advances in technology. During the forecast period, the market in this region is projected to experience growth owing to the increased consumption of these coatings in various end-user segments.
According to Ajay Adikari, a lead analyst at Technavio, specializing in research on paints, coatings, and pigments, “North America is characterized by the presence of major market players, including Sherwin-Williams, PPG, and DuPont. Many vendors based in North America have undertaken R&D initiatives for continuous product development, which will help them to expand their market share. These factors are collectively expected to increase the share of the antimicrobial coatings market in North America over the next four years.”
Antimicrobial coatings market in Europe: Europe is a mature market in terms of consumption of paints and coatings as well as the presence of established vendors, such as BASF, AkzoNobel, DuPont and the Dow Chemical Company. The growth of the antimicrobial coatings market in Europe in the coming years is expected to be in tandem with that of the food and beverages industry. Furthermore, the market is also expected to benefit from favorable regulations imposed by the government and growing health concerns among the individuals in the region.
Antimicrobial coatings market in APAC: Air handling systems are the major application areas of antimicrobial coatings in the region. Many companies from the developed markets are establishing their plants in this region. In addition, the rising awareness regarding antimicrobial coatings is fostering the growth of the antimicrobial coatings market in the region. Industry analysts at Technavio estimate the antimicrobial coatings market in APAC to account for a revenue of more than USD 429 million by 2021.
The leading vendors operating in the global anti-microbial coatings market are:
- Axalta Coating Systems
- AkzoNobel
- BASF
- PPG Industries
- RPM International
- Sherwin-Williams
Other prominent vendors in the market include Nippon Paint, Kansai Paint, Valspar, Sika, and Jotun.
A more detailed analysis is available in the Technavio report titled, ‘Global Antimicrobial Coatings Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electrically Conductive Coatings Market 2017-2021
- Global Metal Coatings Market 2017-2021
- Global Packaging Print Inks Market 2017-2021
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