World Antimicrobial Coatings Market to Grow 11.8% Through 2018
The worldwide market for antimicrobial coatings is expected to register an 11.8% CAGR through 2018, according to a recent report from Market Publishers Ltd. The growth will reportedly be driven by such factors as a rapidly aging population in the developed countries, increasing concern of antibiotic products, and a number of regulatory pressures put on schools, hospitals, and other buildings. Major growth restraints can include the market players’ false claims for selling antimicrobial coatings, the demonstration of functionality and efficacy of silver-based coatings, etc.
With the aim to tap in the burgeoning antimicrobial coatings market and gain a competitive edge over rivals, the leading market players tend to invest heavily. The emerging Latin American and APAC markets for antimicrobial coatings are also reportedly on an upward trend and considered to have a huge future growth potential. Demand in the developing regions is sustained by companies’ efforts to introduce new products, as well as the establishment of novel R&D facilities. The companies engaged in the global antimicrobial coating industry tend to focus on the development of new formulations with antibacterial and anti-odor properties, which, at the same time, are in compliance with regulatory environmental standards.
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