Transparency Market Research predicts the global protective coatings market will reach $22.8bn by 2031, growing at a 4.8% CAGR.
Transparency Market Research predicts the global protective coatings market will reach $22.8bn by 2031, growing at a 4.8% CAGR. Key factors include the rise of smart coatings, antimicrobial coatings due to the pandemic, and sustainable raw materials. Antimicrobial materials, driven by heightened hygiene focus post-pandemic, are forecast to grow at a 14.7% CAGR by Frost & Sullivan to a $61bn market by 2030, with textiles seeing a 19.2% CAGR. The medical coatings market is also set to grow significantly, reaching $23.01bn by 2028 at a CAGR of 21.7%, due to increasing medical device demand and innovative product developments.
August 06, 2024
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