Silver Segment to Dominate Asia Pacific Antimicrobial Coatings Market during 2020-2028

According to a new market research study on “Asia Pacific Antimicrobial Coatings Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Raw Material, Application, and Country,” is expected to reach US$ 1,743.38 million by 2028 from US$ 719.68 million in 2020. The market is estimated to grow at a CAGR of 11.7% from 2020 to 2028. The report provides trends prevailing in the Asia Pacific antimicrobial coatings market along with the drivers and restraints pertaining to the market growth. Rising instances of hospital-acquired infections (HAIs) and incrementing use of antimicrobial coatings in diversified application bases are the major factors driving the growth of the Asia Pacific antimicrobial coatings market. However, the rising concerns related to harmful effects of antimicrobial coatings may hinder the growth of Asia Pacific antimicrobial coatings market.

In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of coatings manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for antimicrobial coatings during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of antimicrobial coatings manufacturing projects, thereby reducing the demand for antimicrobial coatings. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for Asia Pacific antimicrobial coatings is segmented into raw material, application, and country. Based on raw material, the market is segmented into silver, copper, titanium oxide, and others. In 2019, the silver segment held the largest share in Asia Pacific antimicrobial coatings market. Based on application, the Asia Pacific antimicrobial coatings is bifurcated into medical, HVAC, mold remediation, building and construction, foods and beverages, others. The mold remediation segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific antimicrobial coatings market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for antimicrobial coatings.

Cupron, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., and Axalta Coating Systems are some of the leading companies in the Asia Pacific antimicrobial coatings market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the Asia Pacific Antimicrobial Coatings market as follows:

• Silver
• Copper
• Titanium Dioxide
• Others

• Medical
• HVAC
• Mold Remediation
• Building and Construction
• Foods and Beverages
• Others

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific