Market analysis conducted for 2019 estimated the size of the global antimicrobial coatings market at approximately USD 7.1 B. According to this analysis, the complex annual growth rate (CAGR) from 2020 to 2027 is expected to stand at 12.8%.
Growth in this market is driven by factors such as increasing awareness of antimicrobial coatings, growth in initiatives and funding from government and private organizations to develop antimicrobial coatings, as well as an increase in the number of cases of infections from contaminated food.
Since the outbreak of the pandemic, there has been a significant increase in demand for disinfectant products and materials. This increase also drives the demand for antimicrobial coating products, with more recent analyses already indicating that the market size in 2020 will reach USD 8.1 B.
These figures, based on consumption in the Western world, are to be supplemented by data from emerging economies in Latin America, Southeast Asia and Africa, where there has hitherto been low awareness of antimicrobial coatings and which now provide significant business opportunities for players operating in this market.