Portland, OR, Oct. 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global antimicrobial additives market generated $4.7 billion in 2020, and is estimated to reach $9.3 billion by 2030, witnessing a CAGR of 7.1% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top investment pockets, regional landscape, major segments, value chain, and competitive scenario.
Advent of new infectious micro-organisms and surge in utilization in plastic products drive the growth of the global antimicrobial additives market. However, environmental and health concerns regarding their usage hinder the market growth. On the other hand, emergence of sustainable antimicrobial additives presents new opportunities in the coming years.
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Covid-19 Scenario:
- Various market players have been launching products such as protective apparel, masks, and others that made with antimicrobial additives. As these products are high in demand, the market for antimicrobial additives is experiencing growth.
- In addition, textile companies and startups began utilization of antimicrobial additives in their products. Automotive manufacturers also began to utilize these products in various parts of vehicles.
- Though there were disruptions in the supply chain and a shortage of raw materials during the initial stages of the pandemic, the governments issued orders to regulate the supply and distribution of essential items such as masks and protective apparel.
The report offers detailed segmentation of the global antimicrobial additives market based on product type, application, end-use, and region.
Based on product type, the inorganic antimicrobial additives segment contributed to the highest market share in 2020, accounting for around four-fifths of the total share, and is projected to maintain its lead position throughout the forecast period. However, the organic antimicrobial additives segment is estimated to witness the largest CAGR of 7.5% from 2021 to 2030.
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Based on end-use, the healthcare segment held the highest market share in 2020, contributing to nearly one-third of the global antimicrobial additives market, and is expected to continue its lead in terms of revenue throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 7.8% from 2021 to 2030. The report includes analysis of segments such as construction, automotive, food & beverages, and others.
Based on region, Asia-Pacific accounted for the largest share in 2020, contributing to more than one-third of the total share, and is projected to continue its dominant share in terms of revenue by 2030. Moreover, this region is expected to portray the fastest CAGR of 7.8% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
List of companies profiled of the global antimicrobial additives market analyzed in the research include BASF SE, Clariant AG, BioCote Limited, Microban International Limited, King Plastic Corporation, Sanitized AG, Milliken Chemical, Lyondell Basell, PolyOne Corporation, and DOW Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
