Antimicrobial coatings when applied to surfaces inhibit microbial contamination. These coatings are largely utilized in medical devices while its other applications include doors, glass panels, textiles, gloves, etc. These coatings contain active ingredients that make them effective against bacterial and other types of infections. The demand for these coatings is reliant on public awareness regarding its benefits, government regulations and finally the adoption across various industries.
The global antimicrobial coatings market reached a valuation of over USD 3.6 billion by 2019. It is expected to witness a compound annual growth rate of 10.5% from 2020 to 2026. At this growth rate, the market is anticipated to achieve a valuation of nearly USD 7.2 billion by 2026.
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The research report analyses the ecosystem of the antimicrobial coatings market and categorizes it to forecast the revenues and analyse the trends in each of the following below-mentioned market segments.
North America led the antimicrobial coatings market in 2019 and is projected to maintain its lead throughout the forecast period. Growing population and improved economic conditions is boosting the regional construction and healthcare sectors. This coupled with increasing awareness is propel the market growth. The Affordable Healthcare Act initiated by the U.S. government is triggering the construction of hospitals. Continuous innovation in the healthcare sector and rising demand for antimicrobial coated products is driving the market in the region.
The second-fastest growing regional antimicrobial coating market is Asia – Pacific. Rising coatings application in the packaging industry bolstered by the soaring e-commerce sales and demand for packaged food products is one of the drivers for antimicrobial coatings market in the region. The demand generated by the food & beverage, packaging, construction, and healthcare industries is anticipated to augment the regional market growth.
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