Antimicrobial Additives Market likely to grow at CAGR of 8.4% from 2020 to 2027

20/gen/2021 07:44:19 Grand View Research Contatta l'autore

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The global antimicrobial additives market size is expected to reach USD 4.3 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 8.4% over the forecast period. The market growth can be attributed to increasing consumption of antimicrobial additives in medical devices & equipment and other end-use industries, such as packaging, food & beverage, healthcare, personal care, and electronic goods.

These additives are majorly utilized to enhance the physical as well as chemical properties and to increase the shelf life of materials, while improving the aesthetic value and minimizing the risk of microbes, such as MRSA and legionella. The product demand is expected to increase in the global healthcare and packaging application industries owing to the rising need to tackle the COVID-19 pandemic situation. Asia Pacific is expected to lead the market due to the strong presence of some of the major healthcare product manufacturers.

Medical devices, such as urinary catheters, vascular access devices, or enteral feeding tubes, are particularly susceptible to the colonization of bacteria, which can enter the bloodstream. Thus, as a solution, medical devices manufacturers are using antimicrobial additives to effectively prevent the colonization of bacteria on the surface of the device components.

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Inorganic was the prominent type segment in 2019 and accounted for 51.3% share of the global revenue. The segment will expand further at a steady CAGR due to the high demand for silver-, copper-, and zinc-based additives. Silver-based additives have higher demand as they are non-toxic and provide protection against microbial growth, continual performance for a long duration, and high thermal stability.

Antimicrobial Additives Market Highlights

·         In terms of revenue, the inorganic segment accounted for the prominent market share in 2019 and is expected to witness significant growth over the forecast period

·         The healthcare end-use segment led the global market in 2019 and accounted for more than 24% of the global revenue share

·         Asia Pacific held more than 36% of the global share in 2019. The robust manufacturing base of healthcare and textile industries in APAC is anticipated to fuel the growth during the forecast period

·         Key companies follow various strategic initiatives to boost growth. For instance, in November 2019, Sanitized AG partnered with Bodo Moller Chemie for the distribution of its “Sanitized” antimicrobial additives in the Eastern Europe market

Antimicrobial Additives Market Segmentation

Grand View Research has segmented the global antimicrobial additives market report on the basis of type, application, end-use, and region:

Antimicrobial Additives Type Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

·         Organic

·         Inorganic

o    Silver

o    Copper

o    Zinc

Antimicrobial Additives Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

·         Plastics

·         Paints & Coatings

·         Pulp & Paper

·         Others

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