Selbyville, Delaware, Dec. 08, 2021 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the global Antimicrobial Textiles Market was estimated at USD 11.73 billion in 2020 and is expected to reach a valuation of around USD 22.16 billion by 2027, registering with a CAGR of 9.2% from 2021 to 2027. The report gives a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, wavering market trends, competitive scenario, and major investment pockets.
Antimicrobial textiles refer to fiber-based substrates that are applied to the surface with antimicrobial agents or integrated into the fibers, which enable a product to inhibit the growth of microorganisms or destroy them. The ongoing COVID-19 pandemic, coupled with escalating demand for smart medical textiles in healthcare facilities, has bolstered market growth in recent years. Notably, surging demand for antimicrobial home textiles owing to rising awareness pertaining to hygiene is anticipated to positively impact industry expansion over the forecast period.
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Home textiles have gained massive popularity owing to higher disposable income, increased number of nuclear families, heightened sensitivity to aesthetic home furnishings, increasing consumer inclination towards modern lifestyle, rapid industrialization and urbanization, renovation and sensitivity to fashion, the expanding real estate market, and soaring penetration of e-commerce. Additionally, favorable regulatory policies as well as mounting government emphasis on the home textile sector are expected to further propel the demand for home textiles in the forthcoming years. Driven by soaring consumer need, the antimicrobial textiles market from the home textile application segment is projected to grow at a CAGR of around 9.1% through the analysis timeline.
Key reasons for antimicrobial textiles market growth:
- Surging prominence in healthcare facilities.
- Growing prevalence in industrial applications.
- Booming demand in masks during COVID-19.
2027 forecasts show ‘synthetic organic compounds’ segment retaining its dominance:
In terms of active agents, the synthetic organic compounds segment is slated to surpass a valuation of USD 7 billion by the end of 2027. Synthetic organic compounds find extensive industrial usage as they are more cost-effective than bio-based agents as well as metal and metallic salts. These compounds include a wide range of active agents viz., QAC, triclosan, and others. Triclosan is an odorless synthetic chlorinated bisphenol and possesses excellent biocidal properties. This type of active agent is utilized in in nylon, acrylic, polyester, polypropylene, and cellulose acetate fibers. However, the toxicity of some synthetic organic compounds like triclosan can hinder their application, which is likely to impede the growth of the segment over the study timeframe.
Meanwhile, the antimicrobial textiles market share from the bio-based agents application segment is projected to be valued at around USD 1.35 billion by 2027, growing at a CAGR of nearly 8.3% through the review period. Due to limited availability of commercial products, the bio-based active agents segment is foreseen to progress at a moderate pace. However, adverse environmental effects of toxic active ingredients would impel the demand for bio-based ingredients, which is set to fuel segmental development.
Asia Pacific to maintain top status in terms of revenue:
On the regional spectrum, the Asia Pacific antimicrobial textiles market is expected to observe exponential growth through 2027, registering approximately 10.4% CAGR over the forecast period. Rising textile production and sales in various countries, including India, China, Japan, and South Korea, rising e-commerce & retail apparel industries, development of new products, and growing disposable income are speculated to support regional market growth. In addition, increasing presence of several industry players, along with high penetration of international companies in the region through distribution agreements, is anticipated to augment product uptake in APAC in the upcoming years.
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Impact of COVID-19 pandemic on antimicrobial textiles market:
Following the COVID-19 outbreak, masks were mandated to prevent the transmission of the novel coronavirus. As antimicrobial textiles demonstrated notable efficacy in protecting the wearer against the disease, there has been an upsurge in demand for antimicrobial textiles in recent years. This prompted companies to focus on product development and innovation to capitalize on emerging market opportunities, thereby enhancing the overall competitive landscape. As a result, increased consumer need for effective protection against the virus has been favorable for antimicrobial textiles during the pandemic.
Leading market players:
Some key companies in the global antimicrobial textiles industry are Unitika Ltd., Milliken & Company, Kolon Industries, Toyobo Co., Ltd., Trevira GmbH, and Thai Acrylic Fibre Co., Ltd., among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
