Report Ocean published a new survey report on the Antiviral Coatings market. The research offers crucial details about growth plans, business opportunities, trends, innovations, the competitive environment in 2021, and a geographical outlook that takes into account North America, Europe, the Asia-Pacific region, Latin America, the Middle East, and Africa.
The global antiviral coatings market size was US$ 15.1 billion in 2021. The global antiviral coatings market is forecast to grow to US$ 39.27 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.9% during the forecast period from 2022 to 2030.
The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.
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The logistics price increased by 34.9% in July 2022, disrupting the supply chain, while electricity prices increased by 15.5%, the highest level since February 2006. Besides that, The number of existing U.S. homes sold in July 2022 decreased by 5.95% to 4.85 million (seasonally adjusted annual rate), which was the lowest number since May 2020 and under the market’s forecast of 4.89 million. The home sector sales fell for the sixth month in a row as the mortgage rate reached its highest point at 6.3%. The U.S. economy continues to be heavily impacted by the global energy crisis, causing people to spend less and conserve more.
The comprehensive analyses of the most recent trends, growth prospects, and market growth drivers are offered to readers of the global market research reports. The COVID-19 effects on the Antiviral Coatings market are also discussed in detail in the research, along with the market’s predicted compound annual growth rate (CAGR) from 2022 to 2030.
The research also provides a market analysis using various analytical techniques, including Porter’s Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market’s expansion during the forecast period.
Antiviral coating finds its wide applications in protective clothing, medical, air & water treatment, packaging, building & construction, and other segments. The growth of these industries will drive the growth of the global antiviral coatings market.
The increasing number of construction activities and growing healthcare and pharmaceutical industry will drive the antiviral coating market forward. In addition, high demand from HVAC segments will propel the antiviral coating market forward.
The decreased number of R&D activities may restrict the growth of the market. On the contrary, the growing prevalence of infectious diseases will escalate the growth of the market.
The growing number of technological advancements will contribute to the growth of the antiviral coatings market. For instance, Welspun Flooring unveiled a new range of anti-viral floorings in November 2020. This new range includes silver and titanium oxide coatings, which can impede virus growth by 99.68%.
The COVID-19 pandemic has positively influenced the antiviral coatings market across various industrial verticals. Due to the pandemic, safety and hygiene-related challenges increased abruptly. In addition, research and development activities also increased in order to develop reliable solutions. As a result, the global antiviral coatings market witnessed ample growth opportunities.
The soaring demand for protective clothing positively influenced the market. In addition, high healthcare expenditure and the rising focus of governments on healthcare positively impacted the global antiviral coatings market.
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There were five stages to the research study on the Antiviral Coatings market: secondary research, primary research, subject matter expert guidance, quality check, and final review.
Statistical and cogent models for the market were used to assess and forecast the market data. Additionally, market shares and important trends were taken into account when creating the study. The Market Time Line Analysis, Vendor Positioning Grid, Market Overview and Guide, Company Market Share Analysis, Company Positioning Grid, Standards of Measurement, Top to Bottom Analysis, and Vendor Share Analysis are additional data models that can use.
The report combines in-depth quantitative analysis with exhaustive qualitative analysis, ranging from a macro-overview of the overall market size, industry chain, and market dynamics to micro details of segment markets by type, application, and region. As a result, the report offers a comprehensive view of the Antiviral Coatings market that addresses all of its key facets. These market hypotheses are supported by data that comes from both primary and secondary research.
North America is forecast to emerge as the largest antiviral coatings market. It is due to the high healthcare expenditure and favorable policies by governments in the region. In addition, the COVID-19 outbreak shifted the focus of the population and governments towards health and hygiene. As a result, the antiviral coatings market will grow significantly in the coming years.
Asia-Pacific is forecast to register a significant growth rate, owing to the surging cases of COVID-19. Moreover, technological advancements are likely to benefit the regional market during the study period. For instance, Nova Surface-Care Centre Pvt. Ltd, an India-based company, introduced NANOVA HYGIENE+TM in March 2020. It is an anti-microbial coating for fabrics, metals, concrete, and plastics, which aims to restrict the virus spread.
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The global antiviral coatings market segmentation focuses on Type, Material, Application, Form, and Region.
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Middle East & Africa (MEA)
Major highlights of the Table of Contents of the study:
What are the aspects of this report that relate to regional analysis?
?The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. ?The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level. ?Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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