According to Future Market Insights, the global market for antimicrobial coil coatings is at a CAGR of 4.7% in the forecast period from 2023 to 2033 where the market size in 2023 is likely to reach US$ 5 billion, and by 2033 to US$ 6.8 billion.
The rising adoption of the increase in urbanization and homemade appliance along with hygiene, consumer preference, and expansion of the middle-class population is thus escalating the growth of the antimicrobial coil coating market.
The emergence and spread of drug-resistant pathogens which have acquired new resistance mechanisms, leading to antimicrobial resistance, continue to threaten our ability to treat common infections. Especially alarming is the rapid global spread of multi- and pan-resistant bacteria (also known as “superbugs”) that cause infections that are not treatable with existing antimicrobial medicines such as antibiotics. Antibiotics are becoming increasingly ineffective as drug resistance spreads globally leading to more difficult-to-treat infections and death.
New antibacterial is urgently needed – for instance, to treat carbapenem-resistant gram-negative bacterial infections as identified in the WHO priority pathogen list. The high burden of antibiotic-resistant infections and the emergence of multi-drug-resistant pathogens have been augmenting the market. These factors have impacted the growth of the healthcare industry.
The cost of health care for patients suffering from resistant infections is higher than care for patients suffering from non-resistant infections due to the extended duration of illness, and increased usage of expensive drugs.
The government and various concerned authorities related to the AMR market support the funding related to the control of the AMR species. The various funding related to Businesses, Universities, and Healthcare Partners are as below: Broad Agency Announcement (BAA): Contracts with educational institutions, non-profit organizations, state and local government, and private industry for research and development to identify and evaluate strategies to combat antibiotic resistance. Global Healthcare Detection and Response: An international, five-year funding opportunity for partners with experience in healthcare infection detection and response, and/or antibiotic and antifungal resistance across the One Health spectrum. Modeling Infectious Diseases in Healthcare Network (MInD – Healthcare): Established a virtual laboratory where researchers can investigate factors that drive the spread of healthcare-associated infections and simulate multiple prevention strategies to estimate their benefits in a timely and cost-effective manner.
By End-User the market is segmented into Hospitals, Clinics, Research Organizations, and other. Hospitals & Clinics form the largest growing segment as the majority of treatment and procedures are carried out in hospitals. Additionally, in 2016, the average consumption of antibiotics for systemic use in hospitals was 2.1 defined daily doses (DDD) per 1,000 people per day. Research Organizations encourage the research & development of new antimicrobial drugs and diagnostics, thus would drive the growth of the market. Global Antibiotic Research & Development Partnership addresses global public health needs by delivering and developing new or improved antibiotic treatments.
According to Future Market Insights, Asia-Pacific was the largest region in terms of revenue. Numerous drug launches in the market and high treatment costs are supplementing the growth of the regional market. The USA will be a key revenue contributor in the region during the forecast period as guidelines, such as those defined by IDSA for the treatment of CDI, are promoting the use of novel therapies.
AK Coatings announced that Curran International, MJC Incorporated, and AST/Acme Coatings & Linings acquired licenses from the company to coat fabricated HVAC products with the AgION™ antimicrobial compound. Under the agreements, the licensees can now apply coatings containing the AgION antimicrobial compound to steel HVAC components.
Developments-
· Leading positions in large and attractive markets.
· World-class portfolio of brands.
· Balanced geographic exposure: 50% revenue from emerging markets.
· Strong cash generation.
· Well positioned to accelerate growth and enhance profitability.
Antimicrobial Coil Coating Market Overview
According to latest research conducted on antimicrobial coil coating market, the size is expected to grow at a compound annual growth rate of 10-11 % for the forecast period of 2021 to 2027.
Rising adoption of home appliances and increasing urbanization along with hygiene, shifting consumer preferences and expanding middle class population will escalate the antimicrobial coil coatings industry growth.
Major factor which is playing a lead role in growth of the industry is the ongoing pandemic situation which has forced people to think about their safety regarding the health.
What is Driving Demand for Antimicrobial Coil Coating?
Coil Coating plays a vital role in durability of the components used in any appliances such as refrigerators, washing machine, air-conditioners and others. In construction, coil coatings are done to both interior and exterior construction applications. Some of the applications, where coil coating is being utilized are storage units, interiors, entry and exit door and many others.
Construction application is the major end user industry followed by the transportation industry currently. Apart from increasing the coil’s durability, appearance, corrosion resistance, etc., these coatings also protect from harmful disease-causing microbes. The trend of antimicrobial coil coating came in due specific reasons such as hygiene and safety.
As the urbanization is increasing so as the demand of constructions and appliances which propels the growth of these coil coatings and this current pandemic situation is playing the role of catalyst into this.
Demand & Role of Antimicrobial Coil Coating
There is an increase in the need to protect coils & surfaces from germs and microbes. This is not only for healthcare devices. From coils & surfaces, equipment and walls, to textiles and food, everything is susceptible to microbes, which ultimately find their way to human beings. It is not possible to always clean, disinfect or use strong chemicals on surfaces or on coils to prevent the growth of germs. In this scenario, antimicrobial coatings are the best option to tackle such dangerous situations.
It is a process of coating the coils with antimicrobial agents, leading to a more secure and long-term solution. Antimicrobial coatings help reduce maintenance costs. When the coating is applied on a coil, it prevents staining, discoloration or other factors that affect the look of the object. It saves the extra financial burden and labor that would have been used for the other purpose or objects.
Europe Demand Outlook for Antimicrobial Coil Coating
The majority of coil coatings demand in the region is expected from Central & Eastern European countries such as Bulgaria, Czech Republic, Russia, Belarus, and Romania which are witnessing high construction growth.
The demand for construction of new buildings, both commercial and residential, is consistently increasing, which results in the increasing demand of coil coating in the European region. Covid has played a very crucial role in the growth of this segment as people are more aware and more concerned about their wellbeing.
