The Southeast Asia Antimicrobial Coatings Market Size, Share, and overview research report forecast 2023-2028 offers a comprehensive overview of the market, including current trends and forecast growth in terms of service and products. The reader may use this information to better understand the market under consideration's quantitative growth elements. This research focuses on crucial market growth indicators and examines revenue development, value chain analysis, and geography studies in great detail.
To get a competitive edge in the industry, top suppliers are focusing on providing high-quality, economical, and new technologies employing existing materials. Leading producers compete in terms of price, quality, design, and aftermarket support. The competition is increasing and getting better thanks to technological know-how and investments made through partnerships and agreements.
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The study's objective was to:
- Market size by major regions/nations and other study segments are taken into account and analysed.
- A better comprehension of market structure.
- Identifies, portrays, and examines Market Players to determine value, share, the competitive landscape, SWOT analysis, and future development strategies.
- To assess the market's particular growth trends, potential, and overall commitment.
- To convey in-depth information about the major market growth influences (growth potential, industry-specific challenges, and risks).
- To assess the market's size in relation to important regions and the relevant main countries.
- To assess market developments for competitive analysis, such as market growth, partnerships, new product introductions, and acquisitions.
Market Dynamics
Key Driver: Rising Adoption of Antimicrobial Coatings in HVAC Systems to Improve Air Quality
Antimicrobial coatings are widely used as a protective shield in the buildings such as schools, offices, restaurants, public venues, and residential buildings. However, with the growing awareness among the residents for using effective HVAC equipment, the demand for these coatings to protect the ductwork from harmful microbial growth has notably surged the sales of these coatings, designed specifically for their application on the surface of HVAC products. The deteriorating air quality in the Southeast Asia region has increased the need for high-quality air-purification systems, thereby proliferating the adoption of these coatings by HVAC manufacturers.
Further, these coatings are applied on the surface of the duct of air conditioners, thereby purifying improving the quality of the air. Along with this, companies such as, have launched specialty antimicrobial coatings designed specifically for HVAC products. Therefore, the wider adoption of these coatings in maintaining indoor air quality in air handling systems, such as ventilation, heating, etc., has further supported regional market growth.
Possible Restraint: High Prices Toxicity to Restraint the Market Growth
Although antimicrobial coatings protect against disease-causing microbes, the cost of these coatings is moderately high, and the composition of these materials contains toxic chemicals. This causes industries such as food beverage to look for more cost-effective environmentally friendly solutions, such as copper-based or metal-based coating.
Moreover, the presence of biocidal chemicals in these coatings makes them more toxic inherently. As a result, consumers are wary of using such coatings, which would hamper the market growth in the forthcoming years.
Growth Opportunity: Growing Inclination Towards Bio-based Antimicrobial Coatings
The growing inclination of the regional government the industries to use sustainable bio-based products to reduce CO2 emissions has created an opportunity for bio-based coatings in the region. Bio-based coatings use natural extracts to impart antimicrobial properties in the coating range, therefore the chemical composition is almost negligible. However, the use of a significant amount of chemicals in traditional antimicrobial coatings raises the health risk associated with chemicals.
As a result, the adoption of sustainable or bio-based coatings becomes even more imperative. Owing to this, industries such as food packaging, healthcare, etc., are shifting towards bio-based coatings. Furthermore, due to the less health-hazardous effects, the adoption of bio-based coatings in the healthcare sector to form medical implants is expected to positively impact the market of Southeast Asia in the forecast years.
Industry Players Development
- On 1 May 2022, Boral Limited, in collaboration with Calix Limited, announced exploring the feasibility of developing a carbon capture plant in the Southern Highlands using Calix's innovative carbon technology. For this, Boral has been awarded a $30m Commonwealth Grant, which will support both leaders in assessing the viability of a commercial-scale plant that captures compresses up to 100ktpa of unavoidable CO2 emissions that arise from the limestone decomposition in cement manufacturing.
- On 1 July 2021, Forterra completed the acquisition of Barbour Concrete Company Barbour Building Systems, a manufacturer of Southeast Asia Antimicrobial Coatings products used in drainage, stormwater, utility, and other infrastructure applications.
- The same year on 7 January, LafargeHolcim announced acquiring Firestone Building Products (FSBP), a leader in commercial roofing building envelope solutions based in the US, for US$ 3.4 billion, i.e., in line with its plans to become the global leader in innovative sustainable building solutions.
Competitively in the Southeast Asia Antimicrobial Coatings Market:
To create superior business plans and obtain a competitive advantage, it is essential to consider historical firm performance, basic operational techniques, and the product and service portfolio. This research provides an in-depth analysis of the leading players in the worldwide Southeast Asia Antimicrobial Coatings market historical firm performance, basic operational techniques, and the product and service portfolio. These businesses have engaged in a number of joint ventures, collaborations, mergers, and acquisitions in order to forge a strong position in the market:
Top Companies of Southeast Asia Antimicrobial Coatings Market
-PPG Industries, Inc.
-Everbrite, Inc.
-Akzo Nobel N.V.
-Axalta Coating Systems
-Specialty Coating Systems, Inc.
-Koninklijke DSM N.V.
-The Sherwin-Williams Company
-Toyo Ink Co. Ltd
-TOA Paint (Thailand) Public Company Limited
-Teknos Group
-Others
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Important Southeast Asia Antimicrobial Coatings Market Segmentation
The market segmentation section explains segments to readers. The report outlines their historical development as well as the future course they will probably take. In-depth details on new trends that may influence these segments' future are also included. In addition to providing projections for 2023-2028 at the global, regional, and national levels, the report looks at important trends in each sub segment of the worldwide market.
By Material
-Silver
-Copper
-Titanium
-Others (Polymeric, Zinc, Organic, etc.)
By Form
-Liquid
--Solvent Borne Coatings
--Water-Borne Coatings
-Powder
-Aerosol
By End Users
-Building and Construction
-Food Processing
-Consumer Goods
-Healthcare
-Automotive
-Others (Marine, Textile, etc.)
By Country
-Philippines
-Singapore
-Indonesia
-Malaysia
-Thailand
-Vietnam
-Rest of Southeast Asia
Important Concerns Addressed in This Southeast Asia Antimicrobial Coatings Market Report:
- How has the worldwide Southeast Asia Antimicrobial Coatings Market performed thus far, and how will it fare in the years to come?
- What effect did COVID-19 have on the market?
- Which geographical markets are most crucial?
- How does the market division appear?
- What are the various steps in the industry's value chain?
- What are the industry's primary driving forces and obstacles?
- How is the Southeast Asia Antimicrobial Coatings Market structured globally, and who are the key players?
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