Market Overview and Dynamics
The antimicrobial coatings market in North America is expected to grow from US$ 1,318.96 million in 2020 to US$ 3,050.91 million by 2028; it is estimated to grow at a CAGR of 11.1 % from 2020 to 2028. The product innovations and advancements in technology related to antimicrobial coatings is providing lucrative opportunity for the market growth. Through effective research studies and development procedures, researchers and scientists have come up with Na-P-zeolite from kaolin and exposed them to a cation-exchange process to obtain anticorrosive and antibacterial effects together. The latest innovation is associated with the development of multifunctional, low cost, and durable antimicrobial coatings. The multifunctional coatings are incorporated with zeolites, which are considered one of the most useful material. These coatings are designed to perform several actions at the same time. At present, the use of acrylic waterborne coating has been discovered with various multi-functional applications owing to the presence of diversified range of mechanical and physical properties. Such coatings incorporate the use of 1–3 Vinyl ester of versatic acid 10, which is considered an attractive monomer, exhibiting properties such as flexibility, hydrophobicity, and good chemical and ultraviolet (UV) resistance along with inhibiting microbial growth and spread. Therefore, they are extensively used in various applications such as decorative, industrial, wood coatings, and varnishes. Further, they are quite environmentally friendly and emit comparatively less amounts of volatile organic compounds (VOC) in the environment.
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Market Introduction
The North America antimicrobial coatings market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The North American region constitutes developed economies such as US, Canada, and Mexico as a developing nation. The healthcare industry is expected to witness monumental transformation along with the factors such as rapid urbanization, rising instances of infectious diseases, and shift in consumer lifestyle. The demand for antimicrobial coatings has been rising in healthcare setting for sterilization of medical devices. However, the use of antimicrobial coatings is not limited to medical industry and has been expanding across diversified end use industries such as indoor air/HVAC applications along with building and construction, food & beverage, mold remediation, and packaging. For building and construction purpose, the antimicrobial coatings are used to cover the walls and surfaces of manufacturing capabilities, factories, and stations to keep them away from the propagation of microbes. Moreover, these coatings find applications in residential and commercial facilities, indoor handles, flooring and roofing systems, workstations, and other such places. In food & beverage industry, the antimicrobial edible films and coatings protect foodstuff against spoilage and help minimize the risk of pathogen propagation on the food surface. Additionally, these coatings are used to wrap fish and meat products as well as fruits and vegetables.
In case of COVID-19, in North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of coatings manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for antimicrobial coatings during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of antimicrobial coatings manufacturing projects, thereby reducing the demand for antimicrobial coatings. Similar trend was witnessed in other North American countries, i.e., Mexico, Canada, Panama, and Costa Rica. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
North America Antimicrobial Coatings Strategic Insights
Strategic insights for the North America Antimicrobial Coatings provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
Cupron
Alistagen Corporation
AK Coatings Inc.
Fiberlock
Microban International Ltd.
PPG Industries Inc.
Akzo Nobel N.V.
DuPont de Nemours, Inc.
Nano-Care Deutschland AG
Axalta Coating Systems
North America Antimicrobial Coatings Regional Insights
The geographic scope of the North America Antimicrobial Coatings refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
Based on raw material, the silver segment accounted for the largest share of the North America antimicrobial coatings market in 2019. Based on application, the mold remediation segment held a larger market share of the North America antimicrobial coatings market in 2019. Mold remediation protects homeowners and residents safe and secure by detecting large-scale mold within the home and eradicating or encapsulating it. Antimicrobial coatings are added to kill residual mildew and mold after pre-cleaning contaminated surfaces. It also prevents mold and mildew from forming on the cured surfaces. These coatings withstand humid and damp conditions while also preventing fungal infections on the surface. Further, coatings contain EPA-registered mold-inhibitors and anti-microbial additives that prevent the regrowth of odor-causing bacteria, mold, and mildew on the coatings’ surface. Thus, all these factors are expected to increase the demand for antimicrobial coatings in mold remediation.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America antimicrobial coatings market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Cupron, Alistagen Corporation, AK Coatings Inc., Fiberlock, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., Nano-Care Deutschland AG, and Axalta Coating Systems.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
