(Entertainment-NewsWire.com, August 03, 2022 ) The "Antimicrobial Additives Market size is projected to reach USD 5.5 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 6.6%. Antimicrobials are any substance or materials infused with antimicrobial agents and additives to prevent the growth of infection and fever-causing microorganisms such as bacteria, fungi, algae, yeasts, mildew, and other parasites. The growth of microorganisms on untreated particles causes discoloration, unpleasant odors, and polymer degradation issues. The use of antimicrobial additives inhibits the growth of these microorganisms in the end products. Antimicrobial additives offer enhanced properties such as high dimensional stability, heat & chemical resistance, and chemical stability.
The inorganic antimicrobial additives segment accounted for the largest share of the global antimicrobial additives market in 2020. The dominance of the inorganic antimicrobial additives segment is projected to continue during the forecast period owing to its advanced properties. The increasing demand from the various end-use industries such as healthcare, packaging, automotive and construction is fueling the growth of inorganic antimicrobial additives. This segment is also projected to witness the highest growth between 2021 and 2026 in terms of value.
Plastic is the largest application of antimicrobial additives in terms of value, in the global market in 2020. Plastic finds major applications in industries such as healthcare, packaging, food & beverage, and others. The growth in the demand for plastics is primarily driven by the rising demand from its end-use industries.
The market growth of antimicrobial additives in plastic application is mainly driven by growing consumer awareness about health-related infections with the ongoing COVID-19 crisis and growing population in the Asia-Pacific region. With rising economies such as India, South Korea, Indonesia, and others, the demand for antimicrobial additives in the Asia-Pacific region is expected to increase significantly.
Browse in-depth TOC on "Antimicrobial Additives Market” 301 - Market Data Tables 65 - Figures 280 - Pages
APAC is the largest market for antimicrobial additives, followed by Europe and North America. The dominance of APAC is attributed to the stringent industrial standardizations pertaining to the high growth of the end-use industries like healthcare, packaging and automotive in the emerging countries such as China, India, Japan, and South Korea. In addition to this, the antimicrobial additives market has experienced growth in construction end-use industry in terms of the number of projects such as dams, airports, and hydroelectric projects, because of which many international companies have started their manufacturing plants in this region, which has further contributed to the overall growth of the antimicrobial additives market in APAC.
The antimicrobial additives market is dominated by key players in this market like BASF SE (Germany), DuPont De Nemours (US), Microban International (US), Sanitized AG (Switzerland), LyondellBasell (Netherlands), Avient Corporation (US), Biocote (UK) and Milliken Chemical (US) among others. These players have a strong foothold in the global antimicrobial additives market as well as a strong distribution network across the globe.
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The report "Antimicrobial Additives Market With Covid-19 Impact Analysis by Type (Inorganic (Silver, Copper, Zinc), Organic (OBPA, DCOIT, Triclosan)), Application (Plastic, Paints & Coatings, Pulp & Paper), End-use Industry and Region - Global Forecasts to 2026" The market is projected to reach USD 5.5 billion by 2026, at a CAGR of 6.6% from USD 4.0 billion in 2021. This growth is primarily triggered by the increasing demand from the healthcare industry. APAC is the largest antimicrobial additives market due to the stringent industrial standardizations pertaining to the high growth of the end-use industries in the emerging countries such as China, India, Japan, and South Korea. The region is estimated to be the most populated in the world, which creates immense opportunity for the antimicrobial additives in packaging and food & beverage end-use industries.
Inorganic is the largest type of antimicrobial additives market.
Inorganic antimicrobial additives do not decompose or transform even at resin molding temperature (maximum 350˚C). They also do not leach, thanks to organic solvents, and have a long-lasting antimicrobial effect. They possess high heat stability and low volatility and also reduce the risk of microbe adaption and provide long-lasting effectiveness. Inorganic antimicrobial additive dominated the global antimicrobial additive market in 2020 and is expected to continue the dominance for the forecast year. There is a higher demand for inorganic antimicrobial additives, mainly due to their non-volatile nature and high thermal stability. They are widely used in healthcare, food & beverage, and construction industries.
Healthcare is estimated to be the largest end-use industry of the antimicrobial additives market during the forecast period.
Healthcare dominated the antimicrobial additives market in terms of value of the overall market, followed by the packaging industry in 2020. The healthcare industry leads the market of antimicrobial additives owing to growing consumer awareness regarding health-related issues and life-threatening diseases such as COVID-19, H1N1 and nosocomial infections. Growing cases of COVID-19 in countries like US, India and UK is increasing the demand for hospital beds, constructing new covid centers, and medical equipment which is driving the demand for antimicrobial additives in healthcare end-use industry.
Browse 301 market data Tables and 65 Figures spread through 280 Pages and in-depth TOC on "Antimicrobial Additives Market”
APAC is estimated to be the largest market for antimicrobial additives during the forecast period.
Asia-Pacific is the largest antimicrobial additives market, globally. The growth is mainly attributed to high economic growth rate, followed by heavy investment in the healthcare, packaging, and automotive industries. With economic constraints and saturation in the European and North American markets, demand is shifting to the Asia-Pacific region. Growing demand and policies like emission control and the use of environmentally friendly products, have led to innovation in the plastics industry of the region, making it a plastic hub, globally. The antimicrobial additives manufacturers are targeting this region, as it is the strongest market for various end-use industries such as construction and automotive.
The key market players profiled in the report include BASF SE (Germany), DuPont De Nemours (US), Microban International (US), Sanitized AG (Switzerland), LyondellBasell (Netherlands), Avient Corporation (US), Biocote (UK), and Milliken Chemical (US) among others
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
