Antimicrobial Additives Market Size, Share, Growth, Trends and Industry Analysis Report, 2020 to 2027Plastic Raw MaterialsUpdated on Jun 10, 2020 View more like this | Visit NEW YORK, NY | Contact Grand View Research, Inc. |
The global antimicrobial additives market size is expected to reach USD 4.3 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 8.4% over the forecast period. The market growth can be attributed to increasing consumption of antimicrobial additives in medical devices & equipment and other end-use industries, such as packaging, food & beverage, healthcare, personal care, and electronic goods.
These additives are majorly utilized to enhance the physical as well as chemical properties and to increase shelf life of materials while improving the aesthetic value and minimizing the risk of microbes, such as MRSA and legionella. The product demand is expected to increase in the global healthcare and packaging application industries owing to rising need to tackle the COVID-19 pandemic situation. Asia Pacific is expected to lead market due to the strong presence of some of the major healthcare products manufacturers.
Medical devices, such as urinary catheters, vascular access devices or enteral feeding tubes, are particularly susceptible to colonization of bacteria, which can enter the bloodstream. Thus, as a solution, medical devices manufacturers are using antimicrobial additives to effectively prevent colonization of bacteria on the surface of the device components.
Inorganic was the prominent type segment in 2019 and accounted for 51.3% of the global revenue. The segment will expand further at a steady CAGR due to the high demand for silver-, copper-, and zinc-based additives. Silver-based additives have higher demand as they are non-toxic and provide protection against microbial growth, continual performance for a long duration, high thermal stability.
Antimicrobial Additives Market Highlights
Access full research report on global antimicrobial additives market: www.grandviewresearch.com/industry-analysis/antimicrobial-additives-market
These additives are majorly utilized to enhance the physical as well as chemical properties and to increase shelf life of materials while improving the aesthetic value and minimizing the risk of microbes, such as MRSA and legionella. The product demand is expected to increase in the global healthcare and packaging application industries owing to rising need to tackle the COVID-19 pandemic situation. Asia Pacific is expected to lead market due to the strong presence of some of the major healthcare products manufacturers.
Medical devices, such as urinary catheters, vascular access devices or enteral feeding tubes, are particularly susceptible to colonization of bacteria, which can enter the bloodstream. Thus, as a solution, medical devices manufacturers are using antimicrobial additives to effectively prevent colonization of bacteria on the surface of the device components.
Inorganic was the prominent type segment in 2019 and accounted for 51.3% of the global revenue. The segment will expand further at a steady CAGR due to the high demand for silver-, copper-, and zinc-based additives. Silver-based additives have higher demand as they are non-toxic and provide protection against microbial growth, continual performance for a long duration, high thermal stability.
Antimicrobial Additives Market Highlights
- In terms of revenue, inorganic segment accounted for the prominent market share in 2019 and is expected to witness significant growth over the forecast period
- Healthcare end-use segment led the global market in 2019 and accounted for more than 24% of the global revenue share
- Asia Pacific held more than 36% of the global share in 2019. Robust manufacturing base of healthcare and textile industries in APAC is anticipated to fuel the growth during the forecast period
- Key companies follow various strategic initiatives to boost the growth. For instance, in November 2019, Sanitized AG partnered with Bodo Moller Chemie for the distribution of its “Sanitized” antimicrobial additives in the Eastern Europe market
Access full research report on global antimicrobial additives market: www.grandviewresearch.com/industry-analysis/antimicrobial-additives-market
