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In a new market research report from Research and Markets, "Global Antimicrobial Coatings Market Trends & Forecasts to 2018," analysts predict the market size for antimicrobial coatings was about $1.5 billion in 2012 by value and is estimated to grow with a CAGR of about 11.8 percent from 2013 to 2018.
The report covers the major antimicrobials that are used to prevent or inactivate microbes, such as bacteria, fungi (including molds), and viruses. The major additives considered in this report are silver, copper, zinc oxide, zirconium, titanium dioxide and zinc omadine.
The market is divided further on the basis of their major applications such as Indoor air/HVAC, Medical, Mold remediation, Building & Construction, Food & Beverages, Textiles, & Others in which the indoor air/HVAC coatings dominate over all other coatings.
In order to tap the growing market and to gain a competitive advantage in the antimicrobial coatings market, huge investments are made by the major companies such as AkzoNobel, BASF, PPG, Sherwin-Williams, and others in developing countries of Asia-Pacific and Latin America. The new R&D facilities and new product developments by the companies are helping to cater the demand in these developing countries, which are in growing stage and have huge potential in the near future.
The companies dealing with antimicrobial coatings are consistently focusing to develop new coatings with different formulations having antibacterial and anti-odor properties with them and which follows the regulatory environmental standards defined by EPA, REACH, and other environment and healthcare agencies.
The impact of different market factors such as drivers and restraints is also illustrated in the report. This gives an idea about the major drivers such as concerned about antibiotic products, aging population in the developed countries, regulatory pressures on hospitals, schools, and other buildings, and others; and restraints such as demonstrating efficacy and functionality of silver-based coatings, companies' false claims for selling antimicrobial coatings, and others that are of key importance for the commercial success of antimicrobial coatings and its end-user market.
Source: Research and Markets