The report "Antimicrobial Additives Market by Type (Inorganic (Silver, Copper, Zinc), Organic (OBPA, DCOIT)), Application (Plastic, Paints & Coatings, Pulp & Paper), End-Use Industry (Healthcare, Packaging, Food & Beverage, Construction) - Global Forecast to 2026", The antimicrobial additives market is estimated to grow to USD 5.5 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 6.6%.
The market is driven by the rapid growth of the healthcare and packaging industries in the Asia-Pacific region. In recent times, China, South Korea, Japan, and India are witnessing high demand for antimicrobial additives, mainly due to the growing urbanization, aging population, and proliferating lifestyle diseases. This is fueling the growth of the antimicrobial additives market in this region. Properties such as non-toxicity, environmental friendliness, sustainability, flammability, and high thermal stability of silver antimicrobial additives contribute to the growth of the antimicrobial additives market.
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Inorganic is the largest type of antimicrobial additives market.
Inorganic antimicrobial additives do not decompose or transform even at resin molding temperature (maximum 350˚C). They also do not leach, thanks to organic solvents, and have a long-lasting antimicrobial effect. They possess high heat stability and low volatility and also reduce the risk of microbe adaption and provide long-lasting effectiveness. Inorganic antimicrobial additive dominated the global antimicrobial additive market in 2020 and is expected to continue the dominance for the forecast year. There is a higher demand for inorganic antimicrobial additives, mainly due to their non-volatile nature and high thermal stability. They are widely used in healthcare, food & beverage, and construction industries.
Silver-based antimicrobial additives to account for the major share of the market till 2021
The antimicrobial additives market is segmented by type, namely, inorganic (silver, copper, and zinc), and organic (OBPA, DCOIT, and Triclosan). Silver-based antimicrobial additive accounted for the maximum share of the overall market and is projected to witness high growth rate during the forecast period.
Healthcare to be the largest industry for the antimicrobial additives market between 2016 and 2021
The antimicrobial additives market is also segmented on the basis of end-use industry. The major end-use industries of antimicrobial additives are healthcare, packaging, food & beverage, construction, automotive, and others (agriculture, electronic goods, personal care, and industrial). The healthcare industry accounted for the largest share in the antimicrobial additives market. This industry is crucial for the antimicrobial additives market due to the volume of additives used. The use of antimicrobial additives in the healthcare industry provides integrated and lasting hygienic antimicrobial protection to products such as breathing circuits, endoscopes, and beds.
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Asia-Pacific to be the largest market during the forecast period
The antimicrobial additives market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market, followed by North America, and is projected to be the fastest-growing market during the forecast period. This dominance by the Asia-Pacific region is mainly due to the rapid economic growth, particularly in the healthcare and packaging industries in the region. Also, rapid industrialization in Asia-Pacific, coupled with improved living standard, is driving the market for antimicrobial additives.
Currently, the global antimicrobial additives market is dominated by various market players such as BASF SE (Germany), The Dow Chemical Company (U.S.), Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), Polyone Corporation (U.S.), Sanitized AG (Switzerland), Microban International (U.S.), Biocote Limited (U.K.), King Plastic Corporation (U.S.), and Steritouch Ltd. (U.K.).
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