Antimicrobial Additives Market: Information by Type (Organic, Inorganic), Application (Plastics, Paints & Coatings, Rubber & Sil…January 08, 2020
Key Players Analysis
W.M. Barr & Company, Biocote Limited, Sanitized AG, DowDuPont, Biosafe Inc., NanoBioMatters, Addmaster Limited, Clariant, SteriTouch Ltd, PolyOne, BASF SE, and Miliken Chemical.
Antimicrobial Additives Market stood at USD 8,573.1 Million during 2017, which is expected to reach approximately USD 12,500 Million by the end of 2023.
According to the analysis of Market Research Future (MRFR), the global antimicrobial additives market is poised to capture a CAGR of 6.58% over the forecast period of 2017-2023.
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The market for antimicrobial additives has been expanding steadily, substantiated by extensive use in varied plastic applications. Antimicrobial additives are suited to a diverse range of application such as packaged food & beverage, household goods, consumer electronics, textile films and fibers, automotive interiors, and others.
They provide improved protection against harmful bacteria, biofilm, fungi, staining, and mold without exerting any effect on the structural and physical properties of the product. Inflated demand for antimicrobial additives in various plastic products and increased consumption of packaged food products has proven vital for the growth of the global antimicrobial additives market. The use of antimicrobial additives has become quite relevant in the healthcare industry and provides an impetus to the growth of the global antimicrobial additives industry.
Contamination problems being constant in the healthcare industry have directed attention towards minimization of infection which coupled with raising awareness regarding hospital acquired infections encourages the use of antimicrobial additives in the healthcare industry.
They find application in medical plastic products such as catheters, contact lenses, prosthetic joints, mechanical heart valves, and pacemakers which is fuelling the growth of the global antimicrobial additives market. Antimicrobial additives are gaining broader acceptability in various end-user industries, the construction industry being a significant one. Antimicrobial additives find application in wall coverings, floors and carpets, door handles, wiring accessories, radiators, worktops, air conditioning units, and HVAC systems as they protect against microbes and lower the chances of cross-contamination.
The growing construction industry in developed nations, and rising residential and commercial construction in developing countries reflect significant growth in the global antimicrobial additives market.On the contrary, stringent environmental might act as a headwind to the market growth. The sale and use of antimicrobial additives are subject to regulatory control owing to their adverse impact on the environment and human health. However, the introduction of polymer-based antimicrobial additives are expected to provide lucrative opportunities to the market.
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The global antimicrobial additives market has been segmented based on type, application, and end-use industry. By type, the market has been segmented into inorganic and organic antimicrobial additives. The inorganic segment has been further segmented into silver ion, copper, and zinc while the organic segment has been further segmented into phenolic biocides, silane quaternary ammonium compounds (QUAT), fungicides, and others.The inorganic segment led the market in 2017 on account of their high efficiency and strong physical properties.
By application, the market has been segmented into plastics, paints and coatings, pulp and paper, ceramics, and others. The plastic segment dominated the market in 2017.
By end-use industry, the market has been segmented into healthcare, construction, packaging textile, food & beverage, automotive, and others. The healthcare segment accounted for the largest market share in 2017 due to augmenting need for minimization of biofilm formation in healthcare products.
The global antimicrobial additives market spans across the regions of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific accounted for the largest share of the market in 2017 and is expected to maintain its dominance over the forecast period.
Increase in demand for antimicrobial plastics in the region, and tremendous opportunities offered by various end-use industries has positioned Asia Pacific as a highly profitable market for antimicrobial additives. Europe is the second largest market for antimicrobial additives. Stringent regulations on food packaging, substantial healthcare spending, and immense presence of medical device manufacturers are factors driving the Europe market.