The Antiviral & Antimicrobial Coatings Global Market Report 2024

The antiviral & antimicrobial coatings market has grown rapidly in recent years. It will grow from $4.47 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed in the historical period can be ascribed to factors such as extended durability, global pandemics, widespread industry adoption, occurrences of hospital-acquired infections (HAIs), consumer demand, and heightened awareness regarding hygiene.

The antiviral & antimicrobial coatings market is expected to see rapid growth in the next few years. It will grow to $7.63 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The anticipated growth in the forecast period can be credited to factors such as investments in healthcare, readiness for pandemics, rigorous hygiene standards, industry expansion, and the surge in infectious diseases. Notable trends expected in the forecast period encompass heightened demand in healthcare, educational and awareness initiatives, a focus on research and development, the adoption of remote and touchless technology, and the emergence of sustainable coating solutions.

The anticipated rise in infectious diseases is expected to drive the growth of the antiviral and antimicrobial coatings market. Infectious diseases, caused by microorganisms or parasites entering the body, can be contagious or non-contagious. To curb the spread of infectious bacteria and viruses on surfaces, antimicrobial coatings with antiviral properties, utilizing peptides and nanomaterials, have been developed. For example, in September 2022, Johns Hopkins University reported over 353,000 deaths linked to the COVID-19 in 2021, surpassing the 352,000 cases reported during the pandemic. Therefore, the increasing prevalence of infectious diseases is a significant driver for the growth of the antiviral and antimicrobial coatings market.

The anticipated expansion of the food and beverage industry is poised to contribute to the growth of the antiviral and antimicrobial coatings market in the foreseeable future. As a diverse sector covering various phases of the food supply chain, the food and beverage industry faces challenges related to foodborne infections and contamination. Antimicrobial coatings play a crucial role in enhancing cleanliness and safety in food packaging materials and processing equipment. For instance, according to the National Restaurant Association, representing over 380,000 eateries in the foodservice and restaurant industries, food and beverage sales are projected to increase by 19.7% annually to $789 billion in 2021. Therefore, the expansion of the food and beverage industry serves as a driving force for the antiviral and antimicrobial coatings market.

Product innovation stands out as a significant trend gaining traction in the antiviral and antimicrobial coatings market. Major players in this market are dedicated to developing cutting-edge products to reinforce their market position and gain a competitive edge. For instance, in February 2022, Nippon Paint Co., Ltd., a Japanese paint manufacturer, introduced PROTECTON® Floor VK Clear and PROTECTON Interior Wall VK Coat. These water-based paint products, designed for floors and interior walls, respectively, showcase exceptional durability and incorporate anti-viral and anti-bacterial properties from copper. They achieve a reduction of viruses and bacteria on the coated surface by 99% or more while maintaining excellent durability. VK Clear even extends its application to porcelain tiles, demonstrating adhesion capabilities that are challenging to achieve under normal circumstances. Wall VK Coat retains its durability even after cleaning with other wipes.

Major companies in the antiviral and antimicrobial coatings market are strategically expanding their facilities to meet the growing demands of their customer base. The Sherwin-Williams Company, for instance, has embarked on a significant expansion of its architectural paint and coatings manufacturing capacity to cater to the increasing demand for its products. In February 2022, the company announced a $300 million investment for the expansion project, which includes the construction of an 800,000-square-foot distribution and fleet transportation center with an additional 200,000 square feet available for future expansion. Additionally, a 36,000-square-foot extension of the existing 200,000-square-foot manufacturing facility and four new rail spurs are planned. This expansion in Statesville not only showcases Sherwin-Williams' commitment to the community and customers but also reflects the strength of the public-private collaboration between the company and the state of North Carolina, Iredell County, and the city of Statesville.

In January 2022, Polygiene Group AB, a Swedish chemical company, acquired SteriTouch Ltd. in an undisclosed deal. This strategic acquisition serves to enhance Polygiene's portfolio, bringing diversity and enrichment, and positioning the company for increased market share in antimicrobial products for plastics, coatings, and paints. SteriTouch Ltd., a UK-based global provider, specializes in highly effective antimicrobial additives for plastics, paints, coatings, silicone, rubber, and textiles.

Major companies operating in the the antiviral & antimicrobial coatings market report are Akzo Nobel NV, Lonza Group AG, PPG Industries Inc., Axalta Coating Systems LLC, The Sherwin-Williams Company, Nippon Paint Holdings Co. Ltd., RPM International Inc., Sciessent LLC, Sika AG, BASF SE, Jotun AS, DuPont de Nemours Inc., NanoGraphene Inc., Koninklijke DSM NV, Microband International Ltd., Cupron Inc., Sherwin-Williams Company, Novapura AG, Dortrend International Ltd., Smart Separations Ltd., BioCote Limited, Graphene CA, Nano-Care Deutschland AG, Arkema SA, Antiviral Protection SL, TWI Technology Centre Ltd., IMBED BIOSCIENCES Inc., Nanocomposix Inc., Akita Innovations LLC, Allvivo Vascular Inc.

North America was the largest region in the antiviral and antimicrobial coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global antiviral and antimicrobial coatings market report during the forecast period. The regions covered in the the antiviral & antimicrobial coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the the antiviral & antimicrobial coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of antiviral and antimicrobial coatings are antimicrobial coatings and antiviral coatings. Antimicrobial coatings involve the application of a chemical substance on a surface to impede the proliferation and dissemination of bacteria and viruses. The diverse materials used include silver, organic materials, copper, aluminum, and silicon dioxide, which are available in various forms such as liquid, powder, and aerosol. These coatings find applications in healthcare, building and construction, food and beverage, packaging, automotive, protective clothing, and air and water treatment.

The antiviral & antimicrobial coatings market research report provides antiviral & antimicrobial coatings market statistics, including antiviral & antimicrobial coatings industry global market size, regional shares, competitors with a antiviral & antimicrobial coatings market share, detailed antiviral & antimicrobial coatings market segments, market trends and opportunities, and any further data you may need to thrive in the antiviral & antimicrobial coatings industry. The antiviral & antimicrobial coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The antiviral and antimicrobial coatings market consists of sales of surface protectants, decorative paints and lacquers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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