The Asia-Pacific anti-microbial coatings market is anticipated to grow at a considerable CAGR of 11.5% during the forecast period (2021-2027). The factors such as increasing healthcare expenditures and the rise of the middle class, leading to an increase in incomes in various Asia-pacific regions will be effectively contributing to the growth of the market during the forecast period. For instance, according to The American Association for the Advancement of Science (“AAAS”) news published in 2019, China’s healthcare expenditure is expected to rise by 8.4 percent annually where it will be reaching up to 9.1% of GDP in 2025. Further, the rise in income has resulted in a growing middle class in China. Therefore, China’s Gross National Income (GNI) per capita has reached up to $10,410 in 2019. Moreover, according to India Brand Equity Foundation, the government of India also aims to increase the healthcare expenditure to 3% of GDP in 2022.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in August 2020, Muse Nanobots, an Indian technology startup, has developed a nanotech coating for textiles that inhibits the coronavirus within five minutes of contact. The Muse Nanobots coating has shown significant antibacterial activity against human pathogenic bacteria such as Staphylococcus aureus and E. coli among others. It self-sanitizes the textile surface and provides a germ-resistant surface. As it can be applied to any type of fabric, the nano coat adds an extra layer of protection to textiles and lasts up to 60 washes when washed below 70 degrees Celsius. It can be applied to masks, PPE kits, clothing, and packaging. It is non-toxic to human cells and is safe to use, according to tests.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
- By Type
- By Application
- Competitive Landscape- BASF SE., Koninklijke DSM N.V., Nippon Paints Holdings, Co. Ltd., PPG Industries, Inc.
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Asia-Pacific Anti-Microbial Coatings Market Report Segment
By Type
- Silver
- Copper
- Titanium Dioxide
- Others
By Application
- Medical & Healthcare
- Food & Beverage
- Protective Clothing
- Building and Construction
- Others (Air & Water Treatment, Transportation)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
