The global antiviral coatings market size was US$ 15.1 billion in 2021. The global antiviral coatings market is forecast to grow to US$ 39.27 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.9% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Antiviral coating finds its wide applications in protective clothing, medical, air & water treatment, packaging, building & construction, and other segments. The growth of these industries will drive the growth of the global antiviral coatings market.
The increasing number of construction activities and growing healthcare and pharmaceutical industry will drive the antiviral coating market forward. In addition, high demand from HVAC segments will propel the antiviral coating market forward.
The decreased number of R&D activities may restrict the growth of the market. On the contrary, the growing prevalence of infectious diseases will escalate the growth of the market.
The growing number of technological advancements will contribute to the growth of the antiviral coatings market. For instance, Welspun Flooring unveiled a new range of anti-viral floorings in November 2020. This new range includes silver and titanium oxide coatings, which can impede virus growth by 99.68%.
COVID-19 Impact Analysis
The COVID-19 pandemic has positively influenced the antiviral coatings market across various industrial verticals. Due to the pandemic, safety and hygiene-related challenges increased abruptly. In addition, research and development activities also increased in order to develop reliable solutions. As a result, the global antiviral coatings market witnessed ample growth opportunities.
The soaring demand for protective clothing positively influenced the market. In addition, high healthcare expenditure and the rising focus of governments on healthcare positively impacted the global antiviral coatings market.
Regional Analysis
North America is forecast to emerge as the largest antiviral coatings market. It is due to the high healthcare expenditure and favorable policies by governments in the region. In addition, the COVID-19 outbreak shifted the focus of the population and governments towards health and hygiene. As a result, the antiviral coatings market will grow significantly in the coming years.
Asia-Pacific is forecast to register a significant growth rate, owing to the surging cases of COVID-19. Moreover, technological advancements are likely to benefit the regional market during the study period. For instance, Nova Surface-Care Centre Pvt. Ltd, an India-based company, introduced NANOVA HYGIENE+TM in March 2020. It is an anti-microbial coating for fabrics, metals, concrete, and plastics, which aims to restrict the virus spread.
Competitors in the Market
Market Segmentation
The global antiviral coatings market segmentation focuses on Type, Material, Application, Form, and Region.
Based on Coating Type
Based on Material
Based on Application
Based on Form
Based on Region
