Smart Coatings, Smart Surfaces Revenues to Hit US$1.3B By 2025
n-tech Research released a research report titled, Smart Antibacterial and Antiviral Markets, 2020.
In the study, the firm projects that the market for smart antibacterial and antiviral products will reach $1.3 billion by 2025 driven by efforts to combat COVID-19 and provide a safer workplace, healthcare, and improved public health.
n-tech predicts that end-users will now buy more antimicrobial coatings and surfaces to prevent the spread of pathogens. The severity of COVID-19 means that both consumer and industrial markets are now intensely interested in providing anti-microbial protection. In the past, consumers have been reluctant to buy smart antimicrobial products because of their high price and short life. A major focus of antimicrobial R&D is to make them more cost-effective and give them longer lifetimes. Established smart materials – self-cleaning and self-healing coatings and surfaces – are important in providing anti-microbial functionality.
By 2025, smart antiviral coatings are expected to generate $340 million in revenue, with much of these revenues coming from pre-existing products that have been re-purposed for the age of COVID-19.