Antimicrobial Powder Coating Market
The advantage of powder coating over liquid coating is that it does not require a solvent to keep the binder and filler parts in a liquid suspension form and t is one of the factors responsible for the growth of the market of antimicrobial powder coating.
Competitive Dashboard:
The global Antimicrobial Powder Coating Market players are availing of opportunities such as mergers acquisitions, expansions, contracts agreements, and joint-ventures strategies to expand their market share and distribution networks. Some of the top-notch players profiled in the report are BASF SE (Germany), Axalta Coating Systems (U.S.), Koninklijke DSM N.V. (Netherlands), The Dow Chemical Company (U.S.), Sono-Tek Corporation (U.S), Akzo Nobel N.V.(Netherlands), Diamond Vogel (U.S.), PPG Industries, Inc. (U.S.), RPM International Inc. (U.S.), and, The Sherwin-Williams Company (U.S.).
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, has acquired The Valspar Corporation’s (NYSE: VAL), North American Industrial Wood Coatings business. The deal was sealed at USD 420 Mn, and the acquired company had net sales of USD 225 Mn approximately in 2016.
The Antimicrobial Powder Coatings Market is projected to grow from USD 1.3 billion in 2020 to USD 2.5 billion by 2027, at a CAGR of 11.5%.
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The Antimicrobial Powder Coating restricts the growth of microorganisms such as bacteria, fungi, protozoans, etc. and it exhibits the characteristics of antimicrobial peptides, which are used by the immune systems of living beings to kill bacteria and other pathogens. This has fueled the demand for antimicrobial powder coating among the health conscious people. The government has also been promoting the use of antimicrobial powder for coating owing to the present issues of air pollution. Other factors responsible for the growth of the market are concern regarding contamination risk in medical equipment, growth in health expenditure coupled with technological advancement in medical devices, rising standards of living, increased disposable income in developing countries, etc. The demand for this coating can be found in construction and geotechnical engineering, paints and coatings, medical equipment manufacturing, sanitary facilities, and, indoor air conditioning systems which is responsible for increasing demand of antimicrobial powder coating.
The increasing regulation in this market, difficulty in measuring efficacy, etc. are some of the restraints that can have an adverse effect on the market.
Global Antimicrobial Powder Coating Market Segmentation:
On the basis of type, the market is segmented into, metal (silver, copper), microorganisms (Escherichia Coli, Listeria, Pseudomonas, and others). The silver segment is leading the market and accounts for the most substantial shareholding.
On the basis applications, the market has been segmented into healthcare, food beverages, textile, air conditioning ventilation system, paints coatings, building construction, and others. The market shows potential for growth during the projection period with healthcare segment accounting for a significant part of market share.
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Regional Analysis:
By region, the market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and, Latin America. North America segment accounts for the most significant share in the market which can be attributed to the growing food beverage sector. The region will also witness high demand for antimicrobial powder coating in air conditioning and ventilation applications. Other factors responsible for the growth of the market in this region are increased demand for food preservation, health applications, and, consumer goods such as tableware, sanitary products, etc. The U.S. will be the primary revenue contributor in this segment during the assessment period.
Europe segment will hold a significant share in the market and Germany, U.K, France, and, Italy will drive the growth here. The increased awareness about healthy living and increased expenses in healthcare will propel the growth of the market in this region. Other factors responsible for the thriving market are expansion of paint coating industry, construction sector, and, food beverages sector. The maximum share of demand will be accounted for under food beverage, and, paint coating in the coming couple of years. Asia Pacific segment region will hold comparatively minor share exhibiting moderate growth. The growth in this segment can be attributed to factors like increased awareness about healthy living, increased expenditure for healthcare services, etc. India, China, etc. will be the hub of growing demand in this region.
The Middle East segment projects potential for growth owing to exponentially increasing building construction initiatives. Latin America will witness reviving economic and pacifying political scenario in countries such as Brazil and Colombia which will fuel the growth of the market.
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