New York City, NY, 07 April, 2020/ 24 Market Reports: It is estimated for the antimicrobial coatings market to reach USD 4.4 billion by 2021, at a CAGR of 12.6% during the forecast period of 2016 to 2021. Growing demand from the medical and indoor applications in North America and Europe is driving the growth of the market during the forecast period.
Silver is driving the largest growth for the market during the forecast period owing to the fact that it has been known to be a potent antibacterial agent and toxic to germs, fungi and algae; and in the past few years, the use of silver in coatings has experienced a dramatic revival. Inorganic silver antimicrobial coating systems based on colloidal silver, silver salts, silver zeolite/ion exchange resins, complex glasses containing metal ions and nanosilver have been in high demand in the healthcare arena.
Medical is estimated to be witnessing the growth at the fastest rate in the market during the forecast period. To prevent the spread of infections, the antimicrobial coatings are used in medical products, devices, and surfaces in medical facilities. Owing to these factors the medical application is estimated to grow at the highest rate in the market during the forecast period.
Based on geography, North America is estimated to grow at the highest rate in the market during the forecast period. The increased demand from indoor air / HVAC and medical application segments are driving the growth of the market in the region during the forecast period. Food & beverages and textiles applications in the U.S. and Canada are also factors that are boosting the growth of the market during the forecast period.
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