The global antiviral & antimicrobial coatings market is expected to grow at a CAGR of 11.7% from 2021 to 2028 to reach $8.53 billion by 2028.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities.

The growth in the antiviral & antimicrobial coatings market is mainly attributed to the increasing incidence of healthcare-associated infections, the rising number of food product recalls due to microbial contamination, and government initiatives & funding for the development of antimicrobial activity coatings. The growing focus on developing materials for antimicrobial coating specific to aeronautics is expected to offer significant growth opportunities for players in this market.

Based on type, the antiviral coatings segment is estimated to grow with the fastest CAGR over the forecast period. The increased demand for antiviral coatings during the COVID-19 pandemic and the growing need for measures to prevent further epidemics are the factors supporting the market development. The ongoing COVID-19 pandemic has boosted the demand for antiviral coatings, as viruses can survive on glass, metal, fabric, wood, and plastic surfaces.

Practically, the routine disinfection and sanitization of surfaces all the time can be troublesome. Thus, the demand for surface coatings that repel viruses is driving the growth of this market.

Antiviral coatings are also applied to masks, gloves, and other textile surfaces. Various materials, such as nanoscale zinc oxide, silver, cuprous oxide, copper iodide, gold, and silica, have been found to be effective against viruses. Thus, research for developing antiviral coatings based on these materials has accelerated, creating growth opportunities for the market.

Moreover, based on material, the silver segment is estimated to account for the largest share of the market in 2021, and the same segment is expected to create several opportunities for market growth.

The key factor attributing to the market growth is the extended application of silver-based antiviral & antimicrobial coatings for healthcare, packaging, food & beverage, and building & construction applications. Further, active R&D to develop silver nanoparticle-based antiviral coatings to curb the spread of COVID-19 pathogen supports the market growth.

Based on form, the liquid antiviral & antimicrobial coatings segment is estimated to account for the largest share of the market in 2021. Liquid coatings are further bifurcated into solvent-borne coatings and waterborne coatings.

Solvent-borne antimicrobial coatings are estimated to hold the largest share of the market in 2021 and have some key advantages over waterborne antimicrobial coatings, such as higher resistance to adverse weather conditions and resistance to changes in humidity and temperature. Moreover, waterborne coatings do not easily evaporate under high humidity conditions, and the drying time of solvent-borne coatings is much lower as they evaporate easily at any humidity level.

Based on application, the healthcare segment is estimated to grow lucratively over the forecast period. The growing use of antiviral & antimicrobial coatings in medical facilities to reduce the spread of healthcare-associated infections and extended applications of silver and copper-based antiviral & antimicrobial coatings on the masks, face shields, and personal protective equipment during the COVID-19 pandemic is supporting the market growth.