LONDON, Jan. 23, 2017 /PRNewswire/ -- The global antimicrobial additives market size is expected to reach USD 15.34 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for healthcare products such as medical devices and disposables in emerging economies including India and China will fuel growth over the forecast period. Furthermore, increasing awareness among consumers regarding hospital acquired infections (HAIs) is expected to propel the demand for products with antimicrobial properties further.
The usage of antimicrobial additives in the packaging industry will witness considerable revenue growth at a CAGR of 7.1% from 2016 to 2025. These additives are added to the plastic products to prevent spoilage of food, beverages, and medicines due to microbial contamination. Moreover, the rising number of fast food chains and restaurants are anticipated to drive the demand for packaging thereby increasing product demand. In addition, the increasing usage of these additives in the paper for packing medicines and food will create immense growth opportunities over the forecast period.
Further key findings from the report suggest:
The global antimicrobial additives market demand was 57.4 kilo tons in 2015 and is projected to grow significantly on account of swift healthcare expansion in emerging countries such as China, India, Brazil, Mexico, Singapore, Saudi Arabia, and Thailand
Europe accounted for 22.5% of the global volume share in 2015 and is anticipated to witness growth in light of rising consumer demand for antimicrobial packaging, healthcare, food & beverage and paints & coatings products over the upcoming years
Inorganic antimicrobial additives are expected to witness significant volume growth at a CAGR of 8.3% from 2016 to 2025 on account of increasing usage of silver ion. Excellent antimicrobial properties along with low toxicity of silver will spur market demand in the future.
The industry is dominated by key participants including AkzoNobel N.V., BASF SE, Dow Chemical Company, BioCote Limited, Sanitized AG, SteriTouch Limited, Life Material Technologies Limited, Nanobiomatters Industries S.L., Momentive Performance Material Inc., Clariant, Microban International, A. Schulman, Inc., Milliken Chemical, RTP Company, and Plastics Color Corporation
Companies are focusing on extensive research to develop innovative products and technologies. For instance, in October 2016, Sanitized AG introduced Sanitized PL 14-32, a highly effective product for long-lasting antimicrobial protection for flexible polymer applications.
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