The global antimicrobial coating film market was US$ 4,991.1 million in 2021. The global antimicrobial coating film market is forecast to grow to US$ 13,694.7 million by 2030 by growing at a compound annual growth rate (CAGR) of 12.9% during the forecast period from 2022 to 2030.
The antimicrobial coating film is the top layer used to coat the surface of materials like labels and tape. This film contains a nontoxic bacteria-blocking agent named Agion to impede the growth of microbes.
Factors Influencing the Market
Antimicrobial coating films are gaining traction because it is considered efficient for curbing the spread of toxic microorganisms. In addition, it also boosts the safety of workers, customers, and products, which will fuel the growth of the market in the coming years.
Growing concerns related to safety and the wide applications of the product across various industrial verticals, such as healthcare, food, and beverage, etc., are forecast to boost the growth of the market.
The benefits of antimicrobial coating films over disinfectants will propel the global antimicrobial coating film market forward during the forecast period.
The high cost associated with antimicrobial coating films may limit the growth of the market. On the contrary, the growing number of innovations related to nanomaterials will offer ample growth opportunities for the market growth,
The growing adoption of antimicrobial coating films in the food packaging industry will further soar the demand for the product during the study period. A study by World Health Organization (WHO) stated that unhygienic food can cause around 600 million incidents of foodborne diseases and approximately 420,000 deaths every year. Thus, growing awareness about hygienic food will drive the growth of the market.
COVID-19 Impact Analysis
The ongoing COVID-19 pandemic has been a growth booster for the global antimicrobial coating film market. In addition, growing initiatives from governments and private companies to mitigate the spread of the virus have favourably impacted the antimicrobial coating film market.The increasing spending on the healthcare sector, mainly for renovation, will propel the antimicrobial coating films market forward. Furthermore, a growing number of R&D activities for material advancement will benefit the market in the coming years. For instance, the Hong Kong University of Science and Technology unveiled a novel multilevel antimicrobial polymer (MAP -1) in March 2020. This technology can successfully counteract the COVID-19 virus spread.
Regional Analysis
North America is forecast to dominate the global antimicrobial coating film market due to rising government support to implement antimicrobial technology. In addition, the region is home to some of the prominent product manufacturers like XPEL, Inc., which will contribute to the market growth.
Asia-Pacific is forecast to emerge as the significantly growing region due to the rising manufacturing base of packaging products and rising demand for coating films in the healthcare sector.
Competitors in the Market
Market Segmentation
The global antimicrobial coating film market segmentation focuses on Type, Application, and Region.
By Type
By Application
By Region
