|By PR Newswire||
|August 18, 2013 11:39 PM EDT||
KUALA LUMPUR, Malaysia, Aug. 18, 2013 /PRNewswire/ -- Increasing demand for antimicrobials from end-user applications such as medical devices boosts the antimicrobial coatings market in Asia-Pacific. The need to minimize infection and in turn, the cost of treatment has spurred the use of antimicrobial coatings on hospital window frames, door knobs and other areas where hygiene is mandatory, thereby sustaining investments in the market.
New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Analysis of the Asia-Pacific Antimicrobial Coatings Market, finds that the market earned revenues of more than US$70 million in 2012 and estimates this to reach US$123 million in 2018. The main end-user segments covered in the research are medical devices and the food and beverage industry, while other end-user segments include building and construction as well as heating, ventilation and air conditioning.
"Antimicrobial coatings are becoming popular in cardiology, orthopedics, general surgery, ophthalmology, intravenous therapy and urology, as their application on intravenous catheters, stents and wound dressings reduces infection rates," said Frost & Sullivan Chemicals, Materials and Food Research Analyst Nandhini Rajagopal. "The prevalence of multi-drug-resistant microbes and hospital-acquired infections, especially in Southeast Asia, further drives the need for advanced antimicrobial solutions, accelerating market development."
However, the lack of standard testing procedures to verify the effectiveness of an antimicrobial coating has allowed several fake products to enter the market, reducing overall market value. Some manufacturers provide false claims regarding the functional attributes of their coatings or offer coatings with an extremely low concentration of biocide, creating a trust deficit with customers and reducing sale volumes.
Low awareness about the benefits of antimicrobials among most users in Asia-Pacific, along with the rise in the cost of a paint or coating when an antimicrobial is added, also deters adoption.
To encourage uptake, coating manufacturers need to create new, cost-effective antimicrobial additives which are efficient even with a low biocide concentration. Increasing consumer awareness will add to market opportunities across segments in the region.
"Collaboration among biocide and coating manufacturers will ensure the expansion of product lines and an increase in margins," concluded Rajagopal. "Setting up local manufacturing facilities will help global manufacturers stay competitive."
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Analysis of the Asia-Pacific Antimicrobial Coatings Market is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan's related research services include: Asia-Pacific Biorenewable Materials Market, European Antimicrobial Coatings Market, and U.S. Antimicrobial Coatings Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Asia-Pacific Antimicrobial Coatings Market
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SOURCE Frost & Sullivan