It is estimated that the worldwide market for antimicrobial additives market size is approximately US$12,711.5 million is estimated in 2022. Additionally, with increased use in fabrics, inks, paints, paper, plastic and various other applications, total sales of antimicrobial additives are expected to grow at a healthy CAGR of 8, 2% between 2022 and 2032 with an overall valuation of $27,955.6 million by 2032.
The benefits offered by antimicrobial products include quality enhancement of equipment/materials in terms of resistance towards microbial growth, improved product performance, and durability. Preference towards hygieneic and disposable products and increasing health awareness are other key factors fuelling demand.
Some antimicrobial additives are hazardous to the environment when disposed. Research initiatives by environmental institutions suggest that anti-bacterial chemicals constitute a significant portion of soil and water contaminants. The issue of safe disposal and harmful effects of these additives on the eco-system is identified as a restraining factor for the growth of the global antimicrobial additives market.
Use of antimicrobial additives in healthcare products, such as medical devices and disposable hygiene products is identified as one of the key trends in the market. Stringent environment regulations have prompted antimicrobial additives manufacturers to innovate and launch new compositions in order to meet the safe disposal and anti-bacterial properties criterion.
Antimicrobial additive Market Segmentation
By Application:
- Fabric / Textile
- Inks
- Paints and Coatings
- Paper
- Plastic
- Silicone Rubber
- Others
By End Use:
- Automotive
- Building and Construction
- Electronics
- Food and Beverages
- Healthcare
- Other
Africa collectively accounted for more than 50% share of the overall market in 2014 and are further expected to gain market share by 2025. The BRICS antimicrobial additives market is projected to account for a significant share of the overall market by the end of forecast period and is anticipated to expand at a promising CAGR of more than 9% during the forecast period.
Some of the key players in the antimicrobial additives market that have been covered in this study include AkzoNobel N.V., BASF SE, The Dow Chemical Company, Sanitized AG, SteriTouch Ltd., BioCote Ltd., Life Material Technologies Ltd., Momentive Performance Material Inc., Clariant Chemicals India Ltd. and Nanobiomatters Industries S.L.
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