the global antiviral coatings market size was estimated at 13.84 billion USD in 2020 and reach 29.27 billion USD in 2027, registering a CAGR of 13.3% during the forecast period, 2021-2027. The growing demand for antiviral coatings for HVAC applications is the major driver of market growth. The nanocoatings segment is estimated to exhibit the highest CAGR of 13.7% during the forecast period. An increase in demand has been observed during the global COVID-19 pandemic.
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Factors impacting the global antiviral coatings market over the forecast period
- The antiviral coatings market is driven by increased demand during the pandemic situation. The need to prevent viral spread is expected to propel the growth of the antiviral coatings market over the forecast period.
- Strong demand from indoor air quality/HVAC segments is expected to drive the growth of the antiviral coatings market.
- Lack of adequate R&D activities and desired demonstration proving the efficacy of viral coatings will remain the major factors limiting demand growth.
- The safety and hygiene challenges encountered during the pandemic have raised awareness among industries of the importance of these coatings and opened up opportunities for market growth. Research and development activities are carried out at a deeper level and at a faster pace, which may soon result in improved and more reliable solutions, thus fueling the growth of the market.
- An increase in the demand for protective clothing amid the novel coronavirus outbreak is expected to provide new opportunities for market players during the forecast period.
Impact of COVID-19 on Antiviral Coatings Market:
The COVID-19 crisis has significantly influenced the antiviral coatings market, leading to a combined effect on demand. The economic downturn, strict shutdowns and ensuing recession have had a greater negative impact on antiviral coatings manufacturing companies due to the disruption in the supply of raw materials such as silver, copper and graphene. On the other hand, the demand for antiviral coatings has also increased, as many daily surface contacts can lead to transmissions, potentially worsening the situation. Thus, several surfaces are treated with effective antiviral coatings to reduce the likelihood of transmission. This has become an important factor in driving the growth of the market.
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The report outlines the Antiviral Coatings market study based on coating type, material, application, shape, and regions.
On the basis of coating type, the antiviral coatings market has been segmented into–
- High performance coatings
On the basis of material, the antiviral coatings market has been segmented into –
- Silicon dioxide
On the basis of Application, the Antiviral Coatings Market has been segmented into –
- Protective clothing
- Air and water treatment
- Building construction
On the basis of form, the antiviral coatings market has been segmented into –
Antiviral Coatings Market: Regional Outlook
The antiviral coatings market has been segmented into Asia-Pacific, Europe, North America, South America, and Middle East & Africa. In 2020, North America dominates the antiviral coatings market and is expected to maintain its dominance during the forecast period. However, increased demand globally is expected to prevail due to the COVID-19 outbreak. The most affected regions of the world are expected to boost demand for antiviral coatings as an effective solution for the potential prevention of the spread of the virus.
Key Competitors in the Global Antiviral Coatings Market include-
The global antiviral coatings market is highly fragmented, with the presence of a large number of players across the globe. Antiviral Coatings manufacturers operating in the global market are-
- Arkema S.A.
- Canopy Company
- Kobe Steel, Ltd.
- Nano Care Deutschland AG
- Japanese paintings
- Bio-Gate SA
Major players in the Antiviral Coatings market are focusing on organic growth strategies such as expansion, acquisitions, joint ventures, new product lines and adapting advanced technologies globally to enhance their market share . The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country.
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The Antiviral Coatings Market report covers comprehensive analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition Landscape
- More than 15 company profiles
Regional Analysis of Antiviral Coatings Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Antiviral Coatings Market: Target Audience
- Manufacturers of antiviral coatings
- Distributors, Suppliers and Sellers of Antiviral Coatings
- Coatings traders and exporters
- Medical and HVAC Companies
- Research universities and private institutions
- Trade publications and magazines
- Government authorities, associations and organizations