Antimicrobial additives market size will expand at a significant pace from 2021 to 2027 owing to the growing acceptance of healthcare and packaging products worldwide. The escalating number of nosocomial infections and life-threatening diseases in recent times has stirred higher consumer health-related awareness.
Antimicrobial additives are mainly active additives incorporated in the processing of materials to tamper with the growth or life of microorganisms. The fluctuating raw material prices and severe regulations for production and distribution may pose a challenge to the industry expansion. However, the growing usage of silver-based products as antimicrobial additives will add positive impetus to the overall market outlook.
Inorganic antimicrobial additives industry will gain traction with growing adoption in paints & coating applications. These additives are increasingly employed for reducing the bioburden within areas where unchecked microbial growth results in food poisoning or fatal infections. Rising consumption for destroying genomic and plasmid DNA of micro-organisms is a major contributor to the market growth.
The antimicrobial additives industry share from plastic applications will expand with higher utility in countering degradation and discoloration in roofs, pipes, vinyl slides, flooring, and insulation. The rising susceptibility of plastic to microbial growth and its increasing utilization in the production of food containers, soap dispensers, breathing devices, and surgical products has accelerated the demand for antimicrobial additives. Rising penetration in sports equipment, electronic parts, and automotive interiors will lead to market progression.
Demand for antimicrobial additives will grow exponentially across the healthcare sector owing to the booming geriatric population and surging need for healthcare products. The increasing risks of healthcare-associated infections (HAIs) have resulted in the growing product penetration in healthcare furnishings and medical equipment. According to the CDC (Centers for Disease Control and Prevention), HAI’s account for 1.7 million cases and 99,000 deaths annually in the U.S. The increasing emphasis by market players to incorporate antimicrobial additives to limit the concerns over contamination in healthcare will further add to the segment growth.
Asia Pacific antimicrobial additives market size is anticipated to rise significantly due to the flourishing healthcare, food & beverage, and packaging sector. The escalating sales of passenger vehicles and the robust presence of a manufacturing base have led to the expansion of the automotive vertical in the region. Higher rate of industrialization has increased the acceptance of industrial machinery, equipment, and containers, complimenting the adoption of antimicrobial additives. The swelling infrastructure spending has also led to a fast-growing construction business in India and China. The rising prevalence of health infections, along with the growing government support and amplified use of plastics will positively drive the overall regional market proliferation.
BASF SE, A. Schulman, Inc. (LyondellBasell), PolyOne Corporation, Microban International (W.M. Barr & Company, Inc.), Sanitized AG, Steritouch Ltd., King Plastic Corporation, Clariant AG, RTP Company, The Dow Chemical Company (Dow Inc.) are some of the well-known antimicrobial additives market players.
These global participants are resorting to inorganic growth strategies, including partnerships, mergers, and acquisitions, to attain competitive benefits whilst focusing on capacity expansions to reinforce their market position.
For instance, in November 2019, Bodo Möller Chemie expanded the sales and distribution of SANITIZED AG products, mainly antimicrobial additives used in the textile and polymer industry, across the Eastern European market to cater to requirements in the plastic processing applications.
In response to the ongoing COVID-19 pandemic, the antimicrobial additives industry is witnessing massive growth. This is ascribing to the increasing use of the technology to limit the infection devoid of harmful toxins on surfaces to up to 99% in 24 hours. It can also be treated as a breakthrough option for applications such as touch surfaces in public areas, medical devices, or food contact applications. Rising efforts undertaken by various product manufacturers will also influence market proliferation.