Product Code: 72023
The Global Antiviral Coatings Market size was valued at USD 628.37 million in 2020 and the market is projected to register a CAGR of over 14% during the forecast period (2021-2026).
The market is positively impacted by the COVID-19 in 2020. Considering the pandemic scenario, the demand for various products such as masks, gloves, textiles, and others, which are coated with antiviral materials, has been increased. Additionally, the demand for antiviral coatings has been increased in the medical sectors such as in hospitals and clinics, in household applications, and in public spaces, such as schools, airports, public transportation, and others, where the antiviral coatings are used on various substrate surfaces in order to enhance the protection from COVID-19 virus.
- Over the short term, the growing demand for protection measures against COVID-19 and the increasing development of antiviral coating products are expected to drive the market's growth.
- The high cost of raw materials and high cost of applying antiviral coating products are expected to hinder the growth of the market studied.
- Asia-Pacific region is dominating the market and is also likely to witness the highest CAGR during the forecast period.
Key Market Trends
Construction Segment to Dominate the Market
- In the construction industry, anti-viral coatings are commonly used to eliminate viruses on material surfaces such as doorknobs, countertops, railings, floorings, and wall surfaces.
- Some paint manufacturers add microbe-killing agents to paint and primer coatings, while others have created coatings leveraging other chemical capabilities.
- For example, organosilanes are silicon-based nanocoatings that form a highly abrasive surface for viruses and bacteria, effectively ripping them apart. Meanwhile, the chemical compound, quaternary ammonium, typically used in disinfectants, causes cell leakage and eventual death of microbes. Other strategies include photocatalytic and superhydrophobic coatings, which both exhibit self-cleaning functionalities.
- Additionally, in November 2020, Welspun Flooring launched a new range of anti-viral flooring in which silver and titanium oxide coatings are used to give anti-viral properties. These coatings are expected to hamper the virus growth by around 99.68%.
- Furthermore, the outbreak of COVID-19 has further boosted the demand for anti-viral coatings in the construction industry as there has been significant growth in the spread of the virus.
- However, the social restrictions imposed as a result of the COVID-19 pandemic have slowed down the operations of the global construction industry. The pandemic has caused a significant shortage of labor and disruption of supply chains, thereby negatively affecting the growth of the global construction industry. This trend has negatively impacted the demand for anti-viral coatings in the industry as well.
- The above-mentioned factors are likely to affect the demand for anti-viral coatings in the construction industry during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region has been majorly affected by the COVID-19 pandemic. As of May 2021, India had around 22.7 million coronavirus cases and witnessed around 246 thousand deaths. Some other countries like China, Bangladesh, the Philippines, and Indonesia have also been severely affected.
- With the number of COVID-19 cases still significantly growing, there has been a rising focus on developing new measures to contain the spread of the pandemic in the region. Several Asian companies have been developing anti-viral coatings to curb the growth of new COVID-19 cases.
- In April 2020, researchers at the Hong Kong University of Science and Technology announced that they had developed an anti-viral coating called MAP-1, which can be used on frequently used surfaces like elevator buttons and handrails.
- In October 2020, Nohara India, the Indian arm of Nohara Japan, launched Dr. HardoLass, a Japanese patented anti-viral glass coating technology of Yamamoto Holding Co. Ltd. Once applied to a hard surface, this coating is likely to stay on it for up to 5 years.
- In March 2020, Nova Surface-Care Centre Pvt. Ltd, an India-based company, announced the development of NANOVA HYGIENE+TM, an anti-microbial coating for surfaces like fabrics, plastics, metals, and concrete, which is expected to restrict the spread of COVID-19 through touch.
- In June 2020, NIPSEA Group, Asia's largest paints, and coatings manufacturer announced that it had developed an anti-virus coil coating product to assist in both China and the world's fight against infectious diseases.
- In May 2020, Nanoveu, an Australia-based company, developed a nano shield anti-viral coating that can be used on a variety of touchscreens and displays, including those used in tablets and phones.
- In August 2020, Muse Nanobots, a Chennai-based company, launched nanotech coatings for textiles. These coatings are expected to inactivate the coronavirus within 5 minutes of contact, as per the study conducted by Muse Nanobots in partnership with Situ Biosciences, a Chicago-based product test laboratory.
- Such product innovations and increasing research activities regarding anti-viral coatings are likely to affect the market studied in the Asia-Pacific region during the forecast period.
The market is fragmented in nature owing to the presence of a number of smaller players with insignificant shares in the market. Some of the major key players in the market include BIO-FENCE, GrapheneCA, nano Care Deutschland AG, Nippon Paint Holdings Co., Ltd., and Kastus, among others.
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Growing Demand for Protection Measures Against COVID-19
- 4.1.2 Growth in Product Development
- 4.1.3 Other Drivers
- 4.2 Restraints
- 4.3 Industry Value-Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Patent Analysis
5 MARKET SEGMENTATION
- 5.1 Material
- 5.1.1 Copper
- 5.1.2 Graphene
- 5.1.3 Silver
- 5.1.4 Other Materials
- 5.2 Application
- 5.2.1 Construction
- 5.2.2 Home Appliances
- 5.2.3 Healthcare
- 5.2.4 Textiles and Apparel
- 5.2.5 Other Applications
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.2 North America
- 5.3.3 Europe
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Technology Readiness
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles (Overview, Financials, Products and Services, and Recent Developments)
- 6.4.1 BIO-FENCE
- 6.4.2 GrapheneCA
- 6.4.3 Nova Surface-Care Center Pvt. Ltd
- 6.4.4 Nippon Paint Holdings Co., Ltd.
- 6.4.5 nano Care Deutschland AG
- 6.4.6 Kastus
7 MARKET OPPORTUNITIES AND FUTURE TRENDS