According to the report published
by Allied Market Research, the global antimicrobial
additives market garnered $5.1 billion in 2019, and is projected to generate
$7.5 billion by 2027, manifesting a CAGR of 6.8% from 2020 to 2027. The report offers
a detailed analysis of changing market trends, key winning strategies, top segments,
major investment pockets, and regional landscape.
Emergence of new types of infectious
microorganisms and rise in utilization for production of plastic products fuel the
growth of the global antimicrobial additives market. However, lowered level of
antimicrobial action in surface coatings restrains the market growth. On the
other hand, application of natural antimicrobial additives for food packaging presents
numerous opportunities in the coming years.
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Covid-19 Scenario:
·
There has been a considerable increase in demand
for antimicrobial additives from the healthcare sector, owing to its usage in production
of face masks, apparels, and other primary protective equipment required during
the Covid-19 pandemic.
·
Owing to the sudden halt in industries such as construction,
automotive, and others due to the lockdown, the demand has taken a plunge
significantly. However, the demand is expected to take off during the
post-lockdown period as the day-to-day activities get back on track.
The report provides detailed segmentation of the global antimicrobial additives market based on product type, application, end-use, and region.
By product type, the inorganic
antimicrobial additives segment held the highest share in 2019, accounting for nearly
four-fifths of the market, and is projected to maintain its leadership status throughout
the forecast period. However, the organic antimicrobial additives segment is expected
to grow at the fastest CAGR of 7.2% from 2020 to 2027.
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Additives Market:
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By application, the paints &
coatings segment is estimated to manifest the highest CAGR of 7.2% during the
forecast period. However, the plastic segment accounted for the highest share
in 2019, contributing to nearly one-third of the global antimicrobial additives
market, and will maintain its dominance in terms of revenue by 2027.
Based on region, Asia-Pacific held
the highest share of the market in 2019, accounting for more than one-third of
the total share, and will continue its lead position during the forecast
period. Moreover, this region is estimated to portray the highest CAGR of 7.6%
from 2020 to 2027. The report also analyzes regions including Europe, North
America, and LAMEA.
Leading players of the global
antimicrobial additives market analyzed in the research 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.
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