Increase in demand for HVAC systems driving the market of Antimicrobial Powder Coatings Market

September 21 20:15 2020
Increase in demand for HVAC systems driving the market of Antimicrobial Powder Coatings Market

Browse 131 market data Tables and 41 Figures spread through 202 Pages and in-depth TOC on “Antimicrobial Powder Coatings Market”
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

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%. There has been an increase in demand for antimicrobial powder coatings in various industries such as medical & healthcare, HVAC, and appliances which is expected to drive the market. With the growing concern and rising awareness about safety and hygiene across the globe, several manufacturers, such as consumer goods and electronics manufacturers, are focusing on the development of antimicrobial products. It will help to comply with changing consumer preferences and market demand.

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Significant growth in the demand for the HVAC systems in residential, commercial, institutional, and industrial sectors has been witnessed in developed regions, such as the US, EU-5, and BENELUX. Moreover, government regulations and policies, such as tax benefits and incentives for energy conservation, had prompted the demand for HVAC systems.

Mold formation in the HVAC system is a major concern for air quality. During air circulation, the mold spores from the external environment enter into the HVAC system and then get distributed throughout the ductwork and ultimately in the buildings, which leads to the formation of new mold colonies. According to the World Health Organization (WHO), more than 80% of indoor air quality and allergies-related problems are caused due to mold. Several government authorities, such as EPA, WHO, and others, have levied regulations and norms on the indoor air quality at residential, commercial, and institutional buildings. As a preventive measure, the HVAC system manufacturers are applying a layer of antimicrobial powder coatings on the system part, which not only prevents the growth of molds and other bacteria but also reduces the maintenance cost.

Government’s acrpss th globe have also changed the norms and regulations pertaining to indoor air quality due to the COVID-19 pandemic. This, in turn, has resulted in significant growth in demand for the antimicrobial coated HVAC systems in commercial and institutional sectors. Consequently, with the growing awareness and increasing installation and replacement of HVAC systems across the globe, the demand for antimicrobial powder coatings is expected to increase over the forecast period.

The medical & healthcare end-use segment is estimated to be the largest in the antimicrobial powder coatings market

The medical & healthcare industry accounted for the largest share, in terms of value, of the antimicrobial powder coatings market in 2019. In this industry, the growing concern about hospital-acquired infections (HAIs) and their related impact on humans are the major driving factors for the antimicrobial powder coatings market. Through better infection prevention and control practices, a significant share of HAIs are considered to be avoidable, which, further, can be improved by the use of antimicrobial powder coatings.

Antimicrobial powder coatings market in North America is expected to account for the largest share

North America is the world’s largest antimicrobial powder coatings market, with the US being the dominant market in the region. The North American antimicrobial coatings market is driven by the rising demand from the medical & healthcare sector to inhibit the growth of bacteria and microbes causing HAIs. Also, due to the stringent regulations pertaining to the indoor air quality, the HVAC system manufacturers are incorporating antimicrobial coatings on surfaces to ensure the required air quality by inhibiting the growth of mold and bacteria.

There are a large number of end-users in the antimicrobial powder coatings market and a limited number of coating manufacturers. In addition, due to the COVID-19 pandemic, the demand for antimicrobial coatings has been increasing in the medical & healthcare industry. Antimicrobial coatings have gained significant attention and were applied in the several temporary and existing healthcare facilities during the pandemic.

Major players operating in the antimicrobial powder coatings market are PPG Industries, Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), Axalta Coating Systems LLC (US),and Berger Paints India Ltd (India).

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