Market Analysis
The antimicrobial additives market is anticipated to touch USD 13,250 million at a 7.20% CAGR between 2023 - 2030, as per the recent analysis by Market Research Future (MRFR). Antimicrobial agents or additives are chemical ingredients that are used in appropriate proportions to stop algal, bacterial, and fungal growth in materials that are exposed to high levels of unsanitary conditions, UV radiation, or moisture. To improve the durability and hygiene standards of products, such additives have gained immense traction in the current past among product manufacturers.
Various factors are propelling the global antimicrobial additives market growth. As per the latest MRFR report, such factors include the introduction of antimicrobial additives that are polymer-based, rising commercial and residential construction in developing countries, and the booming construction industry. Besides, increasing consumption in medical devices and equipment, as well as various other end-use industries like electronic goods, personal care, healthcare, food and beverage, and packaging, are also adding market growth.
On the contrary, the adverse impact on human health and the environment and the grave effect of the COVID-19 outbreak may limit the global antimicrobial additives market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global antimicrobial additives market based on end use industry, application, and type.
By type, the global antimicrobial additives market is segmented into organic and inorganic antimicrobial additives. Inorganic antimicrobial additives are again segmented into zinc, copper, and silver ion. The organic segment is again segmented into fungicides, silane quaternary ammonium compounds, phenolic biocides, and others. Of these, the inorganic segment will lead the market over the forecast period for their strong physical properties and high efficiency.
By application, the global antimicrobial additives market is segmented into ceramics, pulp and paper, paints and coatings, and others. Of these, the plastics segment will dominate the market over the forecast period.
By end use industry, the global antimicrobial additives market is segmented into automotive, food and beverage, packaging textile, construction, healthcare, and others. Of these, the healthcare segment will have a major share in the market over the forecast period for the growing need to minimize the formation of biofilm in healthcare products.
Regional Analysis
Based on the region, the global antimicrobial additives market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific, & the Middle East and Africa. Of these, the APAC region will lead the market over the forecast period. Good opportunities offered by end use industries, burgeoning demand for antimicrobial plastics, and the booming packaging and healthcare industries are adding to the global antimicrobial additives market growth in the region.
The global antimicrobial additives market in Europe is predicted to hold the second-largest share over the forecast period. The presence of leading automotive and medical device manufacturers, substantial healthcare spending, and strict regulations on food packaging is adding to the global antimicrobial additives market growth in the region.
The global antimicrobial additives market in North America is predicted to have healthy growth over the forecast period. Increasing use in the construction sector, such as an increase in non-residential projects like colleges, schools, and hospitals, coupled with the regulations of the government for the healthcare sector are adding to the global antimicrobial additives market growth in the region.
The global antimicrobial additives market in the MEA is predicted to have substantial growth over the forecast period. The rising packaging industry, increasing sales of antimicrobial additive-based products, expanding construction & automotive industry, and rising per capita disposable income are adding to the global antimicrobial additives market growth in the region.
Key Players
Leading players profiled in the global antimicrobial additives market report include Miliken Chemical, BASF SE, PolyOne, SteriTouch Ltd, Clariant, Addmaster Limited, NanoBioMatters, Biosafe Inc., DowDuPont, Sanitized AG, Biocote Limited, and W.M. Barr & Company.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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