Worldwide Antimicrobial Additives Industry to 2030 - Increasing Health Awareness Among Consumers is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Antimicrobial Additives Market Research Report: By Material Type, Sector Type - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Due to the increasing population, the construction, healthcare, and packaging industries are growing. Another key driver for the healthcare industry is the rising incidence of chronic diseases. This is expected to be a reason behind the increase in the global antimicrobial additives market revenue to $3,784.3 million in 2030 from $1,753.2 million in 2019, at a 7.4% CAGR between 220 and 2030.
Another industry where the usage of such compounds is rising is food packaging, with the Association for Packaging and Processing Technologies estimating this sector to be worth $400 billion by 2025. During long-distance transportation, microbes, especially fungus and mold, can spoil ready-to-eat products. Therefore, the anti-microbial additives market is growing on account of the usage of such compounds in packaging materials.
The anti-microbial additives market witnessed slow growth during the COVID-19 pandemic, as the governments' lockdown measures led to a reduced scale of operations in many manufacturing industries. This resulted in the decreased demand for anti-microbial additives for use in end-products. However, a spurt in the demand for these additives was seen with the increase in monitoring activities, to lower the risk of the spread of the infection.
Antimicrobial Additives Market Segmentation Analysis
In the near future, the fastest anti-microbial additives market growth, on the basis of material type, is projected to be observed in the plastics and polymers category. In the construction and healthcare sectors, plastics and polymers are widely used in window blinds, insulation, pipes, and vinyl sidings. Moreover, these materials are replacing conventional materials during the production of medical devices, which is why they are now being bolstered with anti-microbial additives.
The healthcare category dominated the antimicrobial additives market in the past, based on sector type. Due to the increasing prevalence of hospital-acquired infections (HAIs), which affected almost 30% of the patients in ICUs, according to the World Health Organization (WHO), the usage of anti-microbial additives in this sector is rising fast.
North America contributes the highest revenue to the antimicrobial additives market presently because of the expansion of end-use industries, increasing awareness about the benefits of these materials, and existence of major companies offering these products. Asia-Pacific (APAC) will witness the fastest growth in the market during this decade owing to the high demand for products containing these additives in the regional packaging, healthcare, food and beverage, and construction industries.
- Threat of bio-resistance in patients due to administration of antibiotic drugs
- Growth in end-use industry sectors using anti-microbial products
- Increasing health awareness among consumers
- Impact analysis of drivers on market forecast
- Stringent regulations regarding anti-microbial-additive-containing products
- Impact analysis of restraints on market forecast
- Untapped emerging economies
- The Dow Chemical Company
- LyondellBasell Industries B.V.
- Clariant International Limited
- BASF SE
- DuPont de Nemours Inc.
- Akzo Nobel N.V.
- Momentive Performance Materials Inc.
- RTP Company
- Avient Corporation
- Microban International Ltd.
- Milliken Chemical Company
- Biocote Limited
- Sanitized AG
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