Market Leader - Antimicrobial Powder Coatings Market
The global antimicrobial powder coatings market size is projected to grow from USD 1.5 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 12.0% during the forecast period. The growing demand for antimicrobial powder coatings especially from end-use industries such as medical & healthcare due to the COVID-19 pandemic is driving the market. In the medical & healthcare industry, the growing concern about HAIs and its related impact on humans are the key driving factors for the antimicrobial powder coatings market.
Antimicrobial powder coatings are effective against a wide range of viruses and bacteria spreading chronic and acute diseases. Few viruses, such as bird flu, common cold, and flu viruses are contagious, and these types of coatings are proven inhibitors of their infections. Antimicrobial powder coatings are being used over the past many years in numerous applications, such as hospitals, schools, professional sports organizations, and various other paces that witness a high influx of people.
The market for antimicrobial powder coatings in APAC is projected to witness the highest growth during the forecast period. Japan and China are estimated to hold a significant share of the market, whereas India is still at the introductory stage. In APAC, factors such as low acceptance, high price, and lenient environmental regulations are impacting the consumer’s preference for antimicrobial powder coatings.
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The key players in the antimicrobial powder coatings market PPG Industries, Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), Axalta Coating Systems LLC (US), Berger Paints India Ltd (India), are the leading players operating in the antimicrobial powder coatings market. They have adopted various developmental strategies such as merger & acquisitions, new product launches, and partnerships & agreements to increase their share in the market.
PPG Industries is a key player in the antimicrobial powder coatings market. PPG’s business comprises two reportable business segments: Performance Coatings and Industrial Coatings. The Performance Coatings and Industrial Coatings reportable business segments supply coatings and specialty materials to customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment (OEM); automotive refinish; as well as for other industrial and consumer products. PPG also serves commercial and residential new build and maintenance customers by supplying coatings to painting and maintenance contractors and directly to consumers for decoration and maintenance. Strategically, the company has adopted various strategies to increase its share in the market
In May 2020, PPG launched its quick-ship program for PPG SILVERSAN antibacterial-protected powder coating to deliver the product within 48 hours. This was done to meet the rising demand for these coatings and to help the company serve its customers better.
Axalta Coating Systems is a diversified coatings company. It mainly operates through two segments, performance coatings, and transportation coatings. The company manufactures liquid coatings and powder coatings that are used for various applications such as automotive OEMs, automotive refinish, transportation, general industrial, and architectural & decorative coatings. The company has a strong customer base and operates in many countries of Europe, North America, APAC, and the Middle East & Africa.
In April 2018, Axalta agreed to supply its Alesta AM powder coatings for bed frames at a temporary hospital at McCormick Place in Illinois, US, which is being used for coronavirus patients. The products are being applied to these new beds to ensure that the surfaces are protected with silver zinc zeolite antimicrobial technology that is known to inhibit the growth of microbes on powder-coated surfaces.
Related Reports:
Antimicrobial Powder Coatings Market by Additive Type (Silver, Zinc, Copper & Others), End-use Industry (Medical & Healthcare, Appliances, HVAC, Food Equipment, General Industry, Transportation, Fitness Equipment), & Region - Global Forecast to 2025
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