Portland, OR, Dec. 03, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global antimicrobial textiles market garnered $10.0 billion in 2019, and is projected to reach $18.2 billion by 2027, witnessing a CAGR of 7.4% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top market players, major winning strategies, key segments, value chain, and competitive landscape.
Increase in demand for antimicrobial medical textiles in the healthcare industry, surge in health conscious people, and rise in awareness about hygiene drive the growth of the global antimicrobial textiles market. However, the environment and health related concerns about utilization of antimicrobial agents and fluctuations in raw material prices restrain the market growth. On the other hand, enhanced healthcare infrastructure in emerging countries would present new opportunities in the next few years.
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Covid-19 Scenario:
- The demand for antimicrobial textiles rose during the Covid-19 pandemic among the medical staff and general public as they began adoption of the best hygiene practices.
- The R&D activities have gained momentum across the world for development of antimicrobial textiles that can reduce probability of infection from coronavirus to nearly zero. The development of textiles that are able to kill nearly 99.99% of virus following a few minutes of exposure is undergoing.
- Manufacturing activities have been impacted due to lockdown in many countries. In addition, there has been shortage of raw materials and lack of proper distribution activity. This created a supply-demand gap. The gap will be restored during the post-lockdown period.
The report provides detailed segmentation of the global antimicrobial textiles market based on fabric, active agent, application, and region.
Based on fabric, the polyester segment is projected to witness the highest CAGR of 7.8% from 2020 to 2027. However, the cotton segment held the highest market share in 2019, accounting for nearly half of the global market, and will continue its leadership status during the forecast period.
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By application, the medical textiles segment contributed the largest market share in 2019, holding more than two-fifths of the global antimicrobial textiles market, and is estimated to maintain its lead by 2027. Moreover, this segment is expected to manifest the fastest CAGR of 7.8% during the forecast period. The report also discusses segments including home textiles, apparels, and others.
Based on region, North America accounted for the highest share in 2019, contributing to more than one-third of the total market share, and will maintain to dominance in terms of revenue during the forecast period. However, the market across Asia-Pacific is projected to portray the largest CAGR of 8.0% from 2020 to 2027.
Leading players of the global antimicrobial textiles market analyzed in the report include Aditya Birla Group (ABG), Herculite, Inc., Fuji Chemical Industries, Ltd., Kolon Industries, Inc., Indorama Ventures Public Company Limited, (IVL), Sanitized AG, Response Fabrics (India) Pvt. Ltd., (Response Fabrics), Toyobo Co., Ltd. (Toyobo), Sarex Textile Chemicals, and Vardhman Holdings Limited (Vardhman Holdings).
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