Antimicrobial Additives Market To Reach USD 4.66 Billion In 2028 | Expansion Of The Construction And Packaging Industries Is A Significant Factor Driving Market Revenue Growth, Says Reports and Data
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- The global antimicrobial additives market size is expected to reach USD 4.66 billion in 2028 and register a CAGR of 8.3% during the forecast period, according to a latest report by Reports and Data. Increasing need to resist, inhibit, and prevent growth of microbes such as bacteria, mold, fungi, and viruses is projected to propel market revenue growth. In developing countries, government bodies are investing huge sums in infrastructure projects, which is further resulting in expansion of the construction industry and thus boosting demand for antimicrobial additives. Proliferation and propagation of microorganisms including fungi, bacteria, and algae is affecting the aesthetic appearance of concrete, degrading its mechanical properties and durability, and destroying its internal structure, which, in turn, is leading to increasing cost due to rehabilitation. Need to overcome these challenges for smart and durable infrastructure is resulting in development of antimicrobial concrete. Major players are increasingly investing in the launch of antimicrobial admixture which are utilized in concrete and helps in providing sustainable solutions to the construction industry.
Growing consumer awareness regarding food safety and quality and shifting preference towards packaged food is boosting demand for antimicrobial food packaging. Application of antimicrobial additives into external packaging helps in preventing growth of common food poisoning bacteria and minimizes the risk of bacterial transmission from outer packaging at the point of sale. Increasing investment for the development of natural antimicrobial additives is also expected to drive market growth during the forecast period.
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Some Key Highlights in the Report
- In May 2020, E-Stone Corporation entered into an exclusive partnership with Microban, which is a global leader in antimicrobial technology. This partnership was established to provide Microban antimicrobial protection to E-Stone's etherium by E-Stone engineered-stone surfaces for the next 5 years. Application of Microban technology into engineered stone makes etherium the perfect surface material for use on countertops, floors, bathrooms, and walls.
- Organic antimicrobial additives segment revenue is expected to register a rapid growth rate over the forecast period. Long-lasting protection against odor-causing microbes and stain is boosting the usage of organic antimicrobial additives in paints and coatings. Organic antimicrobial additives can directly be incorporated in the manufacturing of textiles and foams, as well as paints.
- Plastics segment is expected to register steady revenue growth over the forecast period. Antimicrobial additives play a major role in the manufacturing of plastic products as these help in lengthening the life of such products.
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- Healthcare segment revenue is expected to expand significantly over the forecast period, owing to extensive utilization of antimicrobial additives in healthcare industry for the production of various medical devices such as guidewires, thrombectomy, sheaths, and diagnostic catheters.
- The antimicrobial additives market in Asia Pacific is expected to account for largest revenue share over the forecast period. Shifting consumer preference towards packed food and increasing awareness regarding food safety and quality are anticipated to boost demand for antimicrobial additives in the packaging industry in this region.
- Some major companies included in the market report are BASF SE, BioCote Ltd, RTP Company, Inc., Clariant AG, Microban International, Ltd., Milliken Chemical Company, Avient Corporation (PolyOne Corporation), SANITIZED AG, Lyondellbasell Industries Holdings B.V., and Dow Inc.
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For the purpose of this report, Reports and Data has segmented global antimicrobial additives market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Organic Antimicrobial Additives
- Inorganic Antimicrobial Additives
Application Channel Outlook (Revenue, USD Billion; 2018-2028)
- Paints & Coatings
- Plastics
- Pulp & Paper
- Others
End-use Channel Outlook (Revenue, USD Billion; 2018-2028)
- Automotive
- Building & Construction
- Healthcare
- Food & Beverage
- Packaging
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
a. U.S.
b. Canada
c. Mexico
- Europe
a. Germany
b. U.K
c. France
d. Italy
e. Spain
f. Sweden
g. BENELUX
h. Rest of Europe
- Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC
- Latin America
a. Brazil
b. Rest of LATAM
- MEA
a. Saudi Arabia
b. UAE
c. South Africa
d. Israel
e. Rest of MEA
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