International. According to the BCC Research report, demand for antiviral and antimicrobial coatings has skyrocketed as concerns about hygiene and cleanliness increase in many industries.
The research firm's report notes that the global antimicrobial coatings market should reach $5900 million by 2026 with a compound annual growth rate (CAGR) of 11%. In North America, it is expected to reach US$1970.8 million, far from the US$1.681 billion that year would reach the Asia-Pacific market, which follows according to the prospects of BBC Research.
This is explained by the effect of COVID-19, which reduced the sales volumes of the global paints and coatings market to US$167.6 billion in 2020, 3% less than the previous year. The pandemic led to international lockdowns for much of 2020 and even 2021. This affected production and shipping conditions, resulting in uneven overall performance and significant market change in the segment.
Nonetheless, the pandemic has served as a catalyst for antimicrobial research and funding, with startups developing antimicrobial coatings for use in textiles. Other major manufacturers are exploring methods for incorporating coatings into products such as commercial and consumer vehicles.
One of the most notable facts is the increased demand for antimicrobial coatings in medical devices. Largely because of the increased number of hospital-acquired infections (HAIs), but also because doctors prefer antimicrobial coatings, considering them more useful for preventing the spread of germs than powerful cleaning chemicals or disinfectants.
As the research contends, government authorities and healthcare institutions are driving the U.S. market due to growing concerns about reducing HAIs. This country spends the most on health care: nearly $3 trillion annually compared to other countries.
In addition, increased parental concerns and growing demand for safe school environments are also expected to increase the demand for antimicrobial coatings. The report highlights that, because these coatings are harmless and leave no harmful residue, they are ideal for use on classroom walls and hallways, as well as on handrails.
The report notes that antimicrobial coatings are expected to experience increased demand from most industries, including medical/dental, food and catering, self-service technology, public transportation, public changing rooms/restrooms, and telecommunications, all of which have immediate requirements for these coatings.
Antimicrobial coatings are bacteria-resistant coatings that are used on doors, glass panels, walls, doors, HVAC tents, and countertops, among other things. In addition, masks, gloves, fabrics and carpets are treated with these.
