Antimicrobial Additives Market is expected to reach USD 5.5 billion by 2026, from USD 4.0 billion in 2021, growing at a CAGR of 6.6%
The antimicrobial additives market is mainly driven by the outbreak of the pandemic and growing consumer awareness of health issues. However, stringent government regulations are expected to restrain the market growth.
New York, March 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Antimicrobial Additives Market with Covid-19 Impact Analysis by Type, Application, End-Use Industry and Region – Global Forecast up to ‘in 2026’ – https://www.reportlinker.com/p04105734/?utm_source=GNW
There has been massive industrial growth in APAC for the past few years, and this is expected to continue over the next five years. Domestic and foreign investments in end-use industries like automotive, construction, and food & beverages have been steadily growing over the past decade in the region, which is fueling the growth of the antimicrobial additives market.
Antimicrobial plastics have properties such as high antimicrobial activity, hardness, durability and transparency, which makes them suitable for use in non-toxic plastic equipment. With the increase in nosocomial infections, antimicrobial additives are used in air vents to prevent the transfer of communicable diseases.
Growing demand for medical devices is likely to increase the antimicrobial additives market.
Plastic is expected to be the largest application of the antimicrobial additives market, by value, between 2021 and 2026
The plastic application holds the highest share in the overall market in terms of volume and value for the forecast period. Antimicrobial plastics are a type of polymeric material infused with antimicrobial agents and additives.
The use of antimicrobial additives in the plastic limits the growth of microorganisms and helps prevent damage caused by the presence of bacteria, fungi and other parasites. Antimicrobial additives can be incorporated into the plastic resin during compounding or as a masterbatch during molding. Antimicrobial plastic offers improved properties such as low cost, improved mechanical properties, high dimensional stability, heat and chemical resistance, and chemical stability
strong economic growth in Asia-Pacific to drive the demand for antimicrobial additives in the region.
APAC is the largest market for antimicrobial additives, and it is mainly attributed to a high rate of economic growth, followed by heavy investments in sectors such as oil and gas, automotive, infrastructure, chemical , steel and military, among others. With economic contraction and saturation of European and North American markets, demand is shifting to the APAC region.
Manufacturers of antimicrobial additives are targeting this region as it is the largest regional market for various applications, such as growing demand for packaging, food and beverage, construction, and automotive industry. The advantage of moving production to the Asian region is that the cost of production is low here.
In addition, it is easier to serve the local emerging market.
• By business type: Level 1 – 46%, Level 2 – 31% and Level 3 – 23%
• By designation: C level – 46%, director level – 27% and other – 27%
• By region: North America – 33%, Europe – 27%, APAC – 27%, South America – 7%, Middle East and Africa – 6%,
Major market players profiled in the report are BASF SE (Germany), DuPont De Nemours (US), Microban International (US), Sanitized AG (Switzerland), LyondellBasell (Netherlands), Avient Corporation (US) United States), Biocote (United Kingdom), RTP Company (United States) and Milliken Chemical (United States), among others.
This report segments the Antimicrobial Additives market on the basis of type, application, end-use industry region and provides estimates of overall market size across different regions. A detailed analysis of major industry players has been conducted to provide insights into their business overviews, products & services, key strategies, associated with Antimicrobial Additives market.
Reasons to buy this report
This research report focuses on different levels of analysis – industry analysis (industry trends), market share analysis of key players and company profiles, which together provide an overview of overall competitive landscape; emerging and high growth segments of the antimicrobial additives market; high growth regions; and market drivers, restraints, and opportunities.
The report provides information about the following pointers:
• Market Penetration: Comprehensive information on Antimicrobial Additives offered by major players in the global market
• Market Development: Comprehensive insights into lucrative emerging markets: The report analyzes Antimicrobial Additives Markets across all regions
• Market Diversification: Comprehensive information regarding new products, untapped regions, and recent developments in the global Antimicrobial Additives market
• Competitive assessment: in-depth assessment of market shares, strategies, products and manufacturing capabilities of leading players in the Antimicrobial Additives market
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