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Antimicrobial Coatings Market | Global Industry Analysis By Size, Share, Covid-19 Impact, Growth Factors And Regional Forecast To 2027
The global antimicrobial coatings market size is predicted to reach USD 8,650.7 Million by 2027, exhibiting a CAGR of 11.5% during the forecast period. The rising awareness regarding the advantages of active ingredients found in antimicrobial coatings to prevent microbial growth in the wall, door handles and other indoor objects will accelerate the antimicrobial coatings market growth, states Fortune Business Insights in a report, titled Antimicrobial Coatings Market Size, Share & Industry Analysis, By Type (Metallic {Silver, Copper, and Others}, and Non-metallic {Polymeric, and Others}), By Application (Medical & Healthcare, Indoor Air / HVAC, Mold Remediation, Building & Construction, Food & Beverage, Textile, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 3,690.0 Million in 2019. The rising prevalence of diseases will spur significant demand for antimicrobial coatings in prevention and protection against mold, fungi, and bacteria during the forecast period.
Market Driver:
Strong Utilization of Antimicrobial in Disease Prevention to Improve Business Prospects
The increasing application of antimicrobial coatings in healthcare facilities can be a vital factor in inflating the demand of the market. For instance, Healthcare-related infections (HCAI), also known as nosocomial infections lead to a high rate of morbidity and mortality in patients. As per the World Health Organization, Fact Sheet, Hundreds of millions of patients are affected by healthcare-associated infections worldwide each year, leading to significant mortality and financial losses for health systems. The rising cases of HCAI in the developing nations will create opportunities for the market. The World Health Organization, states in high-income countries, approximately 30% of patients in intensive care units (ICU) are affected by at least one healthcare-associated infection. Likewise, the European Center for Disease Prevention and Control (ECDC) estimates that about 4.1 million acute care patients develop an HCAI annually, with 37,000 deaths directly attributed to HCAI. The increasing cognizance of HCAI and pandemics such as COVID-19 will lead to the improvement in the safety and hygiene of patients in hospitals, which, in turn, will aid the expansion of the market. Also, the rising concertation to prevent the growth of microbes, which can lead to infections or cause product degradation will foster healthy growth of the market.
Information Source: -
https://www.fortunebusinessins....ights.com/antimicrob
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Strict Environmental Protection Laws Making Biobased Chemicals Mandatory in Asia-Pacific
Attributed to this, the global biobased chemicals market is predicted to advance at a significant pace in the coming years. These chemicals are being utilized in a number of sectors, including industrial, agricultural, food & beverages, and pharmaceuticals. The demand for biobased chemicals has been significantly high from the industrial sector in the past. In the industrial sector, chemicals including acrylic acid, succinic acid, lactic acid, biobased dyes, and glycerol are used majorly. Although the cost of these chemicals is higher than conventional variants, they are being manufactured by several chemical companies all over the globe.
Among the different fuel types, the demand for biogas is expected to increase considerably in the years to come, owing to the fact that biogas finds application in a number of industries. The fuel is also utilized for generating electricity and as a domestic fuel, thereby leading to its increasing demand. Other than this, the demand for biodiesel has also been significant in the past, owing to its reliability and the fact it can be utilized easily in diesel engines with just making slight modification to the engines.
Geographically, Asia-Pacific is expected to emerge as a major biobased chemicals market in the years to come, since the requirement for biologically sourced chemicals is rising rapidly in the region. The steady development and growth in Japan, China, Malaysia, and India is the major reason behind the increasing demand for eco-friendly products. In addition to all this the demand for biobased chemicals is also expected to increase in the region due to the recently implemented strict environmental protection laws.
read more on:-https://www.psmarketresearch.c....om/market-analysis/b
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Metalworking Fluids Market Research Report to 2027 | Industry Size, Growth Share, Future Trends, Price, Top Key Players Review, Business Opportunities, Demand and Global Analysis by Forecast to 2027
As per a published report by Fortune Business Insights™ The global metalworking fluids market size is projected to reach USD 11.60 billion by the end of 2027. The increasing investments in the research and development of low cost and efficient products will have a huge impact on the growth of the market. According to a report published by Fortune Business Insights, the market was worth USD 10.25 billion in 2019 and will exhibit a CAGR of 4.3% during the forecast period, 2020-2027.
Metalworking fluids are used in heavy machinery and equipment to reduce the friction between two surfaces. The ability of these fluids to reduce the overall heat produced when in use, will contribute to the growing demand for the product across the world. The increasing investments in the research and development of efficient products will emerge in favor of the growth of the overall market in the coming years.
The increasing adoption of heavy machinery and equipment, driven by the rising industrial production and manufacturing units across the world will aid the growth of the market. The presence of several large scale manufacturers in this sector will also contribute to the growth of the overall metalworking fluids market in the foreseeable future.
Shutdown in Manufacturing Units will have a Negative Impact on Manufacturers during the Covid-19 Pandemic
The rapid spread of the coronavirus in several countries across the world has had a negative impact on several manufacturing units across the world. Due to the strict measures implemented by governments across the world, manufacturing units have come to a standstill. Due to social distancing practices, there has been a shortage in man power and labor across the world. This has had an adverse effect on manufacturers in the metalworking fluids sector across the world. Accounting to the adverse effects of the pandemic on the market, companies might look to implement newer strategies once the pandemic is over, with the aim of recovering the economic losses.
Company Mergers and Acquisitions are an Increasing Trend Among Industrial Manufacturing Companies and Fluid Manufacturers
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand for metalworking fluids across the world, there have been several company mergers and acquisitions in recent times. Due to healthy market competition, large scale companies are looking to acquire start-ups as well as SMEs with the aim of establishing a stronghold in the market. In August 2020, Quaker Chemical Corporation announced that it has completed the acquisition of Lubricor Inc. The latter is a manufacturer of and metalworking fluids that have been categorized for use in industrial machinery and equipment. This acquisition will not just help the company grow but will also influence the growth of the overall market in the coming years. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Asia Pacific to Emerge Dominant; Increasing Manufacturing Units to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing number of industrial manufacturing units in countries such as India and China will have a massive impact on the growth of the regional market. The presence of several large scale metalworking fluids manufacturers in these countries is consequential to the increasing demand for several resources. This is mainly attributable to the increasing population across the region. As of 2019, the market in Asia Pacific was worth USD 4.11 billion and this value is projected to rise at a considerable pace in the coming years.
Source: https://www.fortunebusinessins....ights.com/industry-r
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