North America Tops Global Antimicrobial Coatings Market at 13.2% CAGR from 2012-18 Bolstered by Greater Awareness among End-Users
Heightened awareness about the serious health impact of poor indoor air quality will put the global anti-microbial coating market on course to achieving a 12% CAGR between 2012 and 2018. These are the findings of a latest report titled ‘Antimicrobial Coatings Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth And Forecast, 2012 - 2018’ published by Transparency Market Research. Furthermore, global antimicrobial coatings market, in terms of demand, will exhibit a 12.4% CAGR through the forecast horizon.The report finds that North America will hold a leading position in the global antimicrobial coatings market. And, at a CAGR of 13.2% over the forecast period, the North America antimicrobial coatings market is expected to grow faster than the overall market.
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While market players will continue to explore-and find-lucrative growth opportunities in North America, the report recommends that companies should also add Asia Pacific to their growth plans because it is the second-largest regional market. The report estimates that the Asia Pacific antimicrobial coatings market will exhibit a 12.3% CAGR from 2012-2018. Europe, on the other hand, will see some demand-albeit lukewarm-and will go on to register a moderate CAGR of 10.6% through the forecast period.Antimicrobial coatings are witnessing augmented demand because they provide an additional layer of defense against microorganisms. As a result, they are in demand in industries such as construction, medical and healthcare, textiles, food, indoor air quality, and others. However, certain antimicrobial coatings are also known to have harmful effects because they contain active silver. The global antimicrobial coatings market will likely be hindered by environmental and health regulations too. Furthermore, in the wake of reports from the textile companies about the inefficacy of antimicrobial coatings in clothing-related applications, this industry vertical may not be too enthusiastic about adopting such products.
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Based on product type, the market has split into: Antimicrobial powder coatings and surface modifications and coatings. The former is sub-segmented into silver and others, whereas the latter is sub-segmented as: Listeria, E. Coli, Psuedomonas, and others. As of 2012, active silver stood as the most widely-used raw material within the global antimicrobial coatings market essentially because it is believed to be the most effective. Surface modifications and coatings, which constitute the majority of the antimicrobial coatings market by product type, are projected to chart healthy CAGR both in terms of revenues (12.2%) and volume (8.8%) over the forecast period.
The report also studies the antimicrobial coatings market based on application by segmenting it as follows: Mold remediation, indoor air quality, medical/healthcare, construction, antimicrobial textiles, food, and others. Antimicrobial coatings will be predominantly used for enhancing indoor air quality, the report finds. This application segment will report a 12.8% CAGR from 2012 through 2018.
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Furthermore, the report maps the competitive landscape within the global antimicrobial coatings market by profiling players such as: BASF, AkzoNobel N.V., Dow Microbial Control, Sherwin-Williams Company, Diamond Vogel Paints, E.I. du Pont de Nemours & Company (DuPont), and Royal DSM N.V.
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