Antimicrobial Furniture Market

COVID-19 Impact analysis

• COVID-19 pandemic has ceased the production of various products in the antimicrobial furniture industry, which is attributed to the global lockdown. This hampered the growth of antimicrobial furniture market in the years 2020 and 2021, and a similar trend is expected to be seen in the first half of 2022.
• The major demand for antimicrobial furniture was previously noticed from giant developed and developing countries, including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for antimicrobial furniture.
• Further, the long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Antimicrobial furniture manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Antimicrobial furniture manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Antimicrobial furniture is very useful to prevent spread of infections. The recent outbreak of coronavirus pandemic has led to a huge demand for antimicrobial furniture in residential as well as commercial spaces. Further, the healthcare industry is one of the major industries that uses antimicrobial furniture, and due to the recent increase in the healthcare industry, rise in the antimicrobial industry is very much visible. Furthermore, surge in concern of health among the general public, and the government guidelines around the world have compelled many institutions to switch to antimicrobial furniture, fueling demand in the antimicrobial furniture market. However, the high cost of antimicrobial furniture is one of the restraining factors, hindering the growth of antimicrobial furniture market. Contrarily, technological developments in antimicrobial coating agents are anticipated to lead to price reductions along with added safety from microbes. This is expected to create lucrative opportunities for the growth of antimicrobial furniture market during the forecast period.

Market Trends

• The launch of new products that contain improved capabilities has been launched by leading market players. They have taken necessary steps to improve overall functionality of the products. For instance, in February 2021, the UK-based furniture manufacturer Hille Furniture Company launched the SteriTouch, a brand of antimicrobial additive used in the manufacturing of antimicrobial furniture. The product launch has enhanced the product offerings of the company to sustain the competition in the antimicrobial furniture market.
• Similarly, competitors in the antimicrobial furniture market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in July 2021, Herman Miller, a Michigan, U.S.-based furniture manufacturer, announced the acquisition of Knoll, Inc., based in Pennsylvania, U.S. This move is expected to increase the presence of Herman in more than 100 countries worldwide.
• Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for antimicrobial furniture products. For instance, in March 2021, Ashley Furniture Industries, the largest manufacturer of furniture in the world, announced plans to open a new 100,000 sq. ft. facility near Pottsville, Pennsylvania, U.S. The facility is expected to improve the service offerings for antimicrobial furniture consumers in the region.

Key Benefits of the Report

• This study presents the analytical depiction of the antimicrobial furniture industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities, along with detailed analysis of the antimicrobial furniture market share.
• The current market is quantitatively analyzed to highlight the antimicrobial furniture market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed antimicrobial furniture market analysis based on competitive intensity and how the competition will take shape in coming years.