Antimicrobial Additives Market Overview:
The Global Antimicrobial Additives Market was Valued at US$ 4.8 Billion in 2020, and is Expected to Reach USD 7.5 Billion By 2027, Growing With a CAGR Of 7.1%, During The Forecast Period. Antimicrobial additives are active agents that restrain growth of microbes such as bacteria, fungi, mold, and others when added during processing of materials. The antimicrobial additives are used in plastics, inks, textiles, papers, fabric care, paints and coatings, and rubber to increase their performance and stability by reducing microbes.
Antimicrobial additives restrain the growth of microorganisms by destroying the cell wall or by damaging the microbial DNA. Maintaining Hygiene has become prevailing across several developing economies. Medical devices are often use as antimicrobial additives to prevent the growth of microbes on the surfaces of devices and equipment. the growing packaging industry is expected to positively influence the antimicrobial additives market because the usage helps in preventing food and beverages from getting spoilt.
Additionally, progressing implementation of these products in the aviation, marine, construction, healthcare, packaging, and food and beverage industries and growing awareness among consumers toward health-related issues are also driving the antimicrobial additives market. There has been a rising demand within the global antimicrobial additives market for the need for better products in the healthcare sector. Medical devices and equipment’s necessary for medical purposes entail the use of antimicrobial additives which has created ample demand within the market. Advance in technology, introduction of new products, expansion of business by key players have increased the demand for antimicrobial additives market across the globe. Improvement in quality of life, increase in income increase in health awareness will also boost the antimicrobial additives market growth.
The rise in infectious microorganisms due to that usually spread diseases and also due to spreading microorganisms which are trapped on various surfaces such as door knobs, automotive interiors, etc. Antimicrobial additives are capable of restraining trapped microbes during the manufacturing of products. Hence, increase in utilization of antimicrobial additives in plastic products will boost the growth of the global antimicrobial additives market. There is a higher demand for anti-microbial additives to reduce the risk of covid 19 by means of increasing monitoring procedures. Major key players are launching innovative antimicrobial additives to tackle the spread of Covid 19. Restraints in the antimicrobial additives market can be listed as fluctuating prices of raw material and stringent environmental regulations by many regions.
The Global Antimicrobial Additives Industry Segmentation:
By Product Type
By End Use
Based on application, the paints and coatings segment are expected to be dominate the antimicrobial additives market in the year 2020.
By application, the paints & coatings segment is estimated to incur the highest CAGR of 7.2% during the forecast period in the antimicrobial additives market. However, the plastic segment accounted for the highest share in 2020, contributing to almost one-third of the global antimicrobial additives market size. Antimicrobial paints & coatings are waterborne and zero-VOC formulation based on a polyethylene resin. They help in eradicating the growth of gram-positive and gram-negative odor-causing bacteria, mold, algae, and viruses on coating surfaces. The growth of microorganisms may tarnish and depreciate coatings over time. Therefore, coating manufacturers add antimicrobial additives in paints & coatings to shield and expand the life of their product.
Based on product type, the inorganic antimicrobial additives segment is going to dominate the market in the year 2020
By product type, the inorganic antimicrobial additives industry held the highest share in 2020, accounting for just about four-fifths of the market size and is anticipated to maintain its position throughout the forecast period in the antimicrobial additives market. However, the organic antimicrobial additives segment is expected to grow at the fastest CAGR of 7.3% from 2021 to 2027.
Based on End Use, Food and Beverage is expected to dominate the global antimicrobial additives market during the year 2020
The healthcare end-use segment led the global market and accounted for more than 29% market share of the global revenue in 2020. In addition, new trends in the antimicrobial additives market across food and beverage segment are witnessing growth due to constant use of additives in shelving, flooring, and food processing equipment, ice making machines, storage containers, and water hydration systems which further fosters the antimicrobial additives market growth.
Based on regions, Asia-Pacific is dominating the global antimicrobial additives market in the year 2020
Based on region, Asia-Pacific held the highest share of the antimicrobial additives market size in 2020, and is expected to witness similar growth trends during the forecast period. The market is driven by the growth of the major end-use industries, such as healthcare, construction, automotive, food and beverage, and packaging. The robust manufacturing base of the automotive industry in China, Japan, and India coupled with the rising sales of passenger vehicles are further fostering the product demand. In addition, favorable policies, such as Foreign Direct Investments (FDI) and Make in India, implemented by the government of India are expected to provide lucrative growth opportunities for the automobile industry, which, in turn, are expected to increase the product consumption in automobile applications.
Company Profiles and Competitive Intelligence:
The major players operating in the global Antimicrobial Additives Market include BioCote Limited, BASF SE, KingPlastic Corporation, Milliken Chemical, Microban International Limited, Clariant AG, Sanitized AG, PolyOne Corporation (Avient Corporation), Lyondell Basell, and DOW Inc., among others.The companies are focusing on collaborating with various stakeholders and innovating new products.
The report also provides in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges
The report also provides in-depth analysis of key market trends:
|1||The growing end-use industries such as healthcare and packaging in the region are expected to drive the increasing demand for antimicrobial additives market over the coming years.||Positive|
|2||Increasing stringent government regulations on the use of antimicrobial additives industry on account of posing health issues||Negative|
The report also provides in-depth analysis of recent News Developments and Investments
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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