According to the report published by Allied Market Research, the global anti-viral coatings market generated $0.5 billion in 2019, and is estimated to reach $1.3 billion by 2027, registering a CAGR of 13.3% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for anti-viral coatings from HVAC applications drives the growth of the global anti-viral coatings market. However, lack of research and development activities restrain the market growth. Furthermore, surge in demand for protective clothing amid the outbreak of Covid-19 pandemic is expected to provide new opportunities for market players in the near future.
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Anti-viral coatings manufacturing companies have been affected to a larger extent due to disrupted supply of raw materials such as silver, copper, and graphene during the Covid-19 pandemic.
The demand for anti-viral coatings have been surged during the Covid-19 pandemic as many day-to-day surface contacts may lead to transmissions. If the surfaces are treated with anti-viral coatings, it reduces the probability of transmission.
The report offers a detailed segmentation of the global anti-viral coatings market based on type of coating, type of material, application, form, and region.
Based on type of coatings, the high performance coatings segment contributed to the largest share in 2019, accounting for nearly half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the nano coatings segment is estimated to portray the highest CAGR of 13.7% during the forecast period.
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Based on type of material, the silver segment accounted for the largest share in 2019, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 13.7% from 2020 to 2027. The research also analyzes segments including graphene, silicon dioxide, copper, and others.
Based on region, North America contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-pacific is expected to grow at the highest CAGR of 13.4% from 2020 to 2027.
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The key players operating in the anti-viral coatings market are Arkema, Dais Corporation, Hydromer, Kobe Steel, Ltd., nano Care Deutschland AG, Nippon Paints, EnvisionSQ, Bio-Fence, Bio-Gate AG, and GrapheneCA. The players in the market have adopted several strategies to sustain the market competition. The market players are also investing largely into R&D activities for the same owing to COVID-19 outbreak that has driven the demand for such coatings.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.