Dublin, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The "Global Antimicrobial Additives Market With Covid-19 Impact Analysis by Type (Inorganic (Silver, Copper, Zinc), Organic(OBPA, DCOIT, Triclosan)), Application (Plastic, Paints & Coatings, Pulp & Paper),End-use Industry and Region - Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.
The antimicrobial additives market is estimated to grow to USD 5.5 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 6.6%. The antimicrobial additives market is driven mainly by the outbreak of the pandemic and growing awareness about health-related issues among consumers. However, strict government regulations is expected to restrain the market growth.
There has been massive industrial growth in APAC in the past few years, and this is expected to continue during the next five years. Domestic and foreign investments in the end-use industries like automotive, construction and food & beverage have been consistently growing over the past decade in the region, which is fueling the growth of the antimicrobial additives market. Antimicrobial plastics possess properties such as high antimicrobial activity, hardness, durability, and transparency, which make them suitable for use in non-toxic plastic equipment. With the rise in hospital-acquired infections, antimicrobial additives are being used in air vents to prevent the transfer of communicable diseases. The growing demand for medical devices is likely to augment the market of antimicrobial additives.
Plastic is expected to be the largest application of the antimicrobial additives market, in terms of value, between 2021 and 2026
Plastic application holds the highest share in the overall market in terms of volume and value for the forecast period. Antimicrobial plastics are a type of polymer material infused with antimicrobial agents and additives. The use of antimicrobial additives in plastic restrains the growth of microorganisms and helps in preventing harm cause by the presence of bacteria, fungi, and other parasites. Antimicrobial additives can be incorporated with plastic resin during compounding or as a masterbatch during molding. Antimicrobial plastic offer enhanced properties such as, low cost, improved mechanical properties, high dimensional stability, heat and chemical resistance, and chemical stability.
High economic growth in APAC to drive the demand for antimicrobial additives in the region
APAC is the largest market for antimicrobial additives, and it is mainly attributed to high economic growth rate, followed by heavy investment across industries such as oil & gas, automotive, infrastructure, chemical, and steel & military among others. With economic contraction and saturation in the European and North American markets, the demand is shifting to the APAC region.
Antimicrobial additive manufacturers are targeting this region as it is the strongest regional market for various applications, like growing demand for packaging, food & beverage, construction and automotive industry. The advantage of shifting production to the Asian region is that the cost of production is low here. Also, it is easier to serve the local emerging market.
Market Dynamics
Drivers
- Outbreak of the Pandemic and Growing Awareness About Health-Related Issues Among Consumers
- Growth of End-Use Industries
- Increasing Use of Silver-Based Products as Antimicrobial Additives
Restraints
- Volatility in Raw Material Prices
Opportunities
- Untapped Opportunities in the Agriculture and Cosmetics Industries
- Growth of the Textile Industry
Challenges
- Government Regulations on the Usage of Plastics in Certain Applications
- Decline in Construction Activities
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Antimicrobial Additives Market, by Type
8 Antimicrobial Additives Market, by Application
9 Antimicrobial Additives Market, by End-Use Industry
10 Antimicrobial Additives Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent & Related Markets
14 Appendix
Companies Mentioned
- Addmaster Limited
- Americhem Inc.
- Arkema Group
- Avient Corporation
- Basf Se
- Biocote
- Biosafe Inc.
- Croma Color Corporation
- Dupont De Nemours, Inc.
- King Plastic Corporation
- Life Material Technologies Limited
- Lyondellbasell
- Microban International Ltd.
- Milliken Chemical
- Momentive Performance Materials Inc.
- Nolla Antimicrobial Ltd.
- Parx Materials
- Porex Corporation
- Rtp Company
- Sanitized Ag
- Sciessent LLC
- Shanghai Langyi Functional Materials Co., Ltd.
- Steritouch Ltd.
- Teknor Apex
- Troy Corporation
For more information about this report visit https://www.researchandmarkets.com/r/513nu5
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