Global Antimicrobial Additives Market Size To worth USD 5.67 Billion by 2033 | CAGR of 5.69%
Category: Chemicals & MaterialsGlobal Antimicrobial Additives Market Size To worth USD 5.67 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Antimicrobial Additives Market Size is Expected to Grow from USD 3.26 Billion in 2023 to USD 5.67 Billion by 2033, at a CAGR of 5.69% during the forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 107 Market data tables and figures & charts from the report on the "Global Antimicrobial Additives Market Size, Share, and COVID-19 Impact Analysis, By Type (Organic Microbial Additives and Inorganic Microbial Additives), By Application (Paints, Fabric/Textile, Inks, Paper, Plastic, Silicone, and Rubber), By End-Use (Construction, Food & Beverage, Automotive, Healthcare, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/antimicrobial-additives-market
The antimicrobial additives market is the industry comprising of sell of chemicals that aid in preventing the growth of microorganisms like bacteria, fungi, and viruses in materials and products. A wide variety of material types can incorporate antimicrobial chemicals. Textiles, ceramics, coatings, and plastics are among the common applications. Rapid urbanization and population growth, as well as increased health consciousness in emerging economies, are predicted to support end-use industries, which would escalate demand for antimicrobial additives over the forecast period. Technology and product innovation are significantly contributing to escalating the market growth opportunity. The increasing knowledge about health-related concerns and the significance of antimicrobial additives are driving the market demand for antimicrobial additives. The incomparable benefits offered by antimicrobial additives to hygiene-critical and high-traffic environments such as research institutions, laboratories, hospitals, schools, and food processing plants are propelling the market. On the contrary, the price fluctuation in raw materials of antimicrobial additives limits their usage, thereby restraining the market growth.
The inorganic microbial additives segment dominated the market accounted for the revenue share of over 53.0% in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe.
Based on the type, the antimicrobial additives market is classified into organic microbial additives and inorganic microbial additives. Among these, the inorganic microbial additives segment dominated the market accounted for a revenue share of over 53.0% in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe. Inorganic antimicrobial additives are very effective against bacteria. The increased demand for silver-based, copper-based, and zinc-based additives is expected to drive the market growth in the inorganic microbial additives segment.
The plastic segment held the largest share of the global antimicrobial additives market accounting for over 34.0% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the antimicrobial additives market is classified into paints, fabric/textile, inks, paper, plastic, silicone, and rubber. Among these, the plastic segment held the largest share of the global antimicrobial additives market accounting for over 34.0% in 2023 and is expected to grow at a significant CAGR during the forecast period. Antimicrobial additives are easily incorporated into plastic substrates to improve surface cleanliness and product longevity. The extensive use of antimicrobial additives in the production of soap dispensers, food containers, surgical products, and breathing devices is driving the market demand.
The healthcare segment accounted for over 26.0% market revenue share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end-use, the antimicrobial additives market is classified into construction, food & beverage, automotive, healthcare, and others. Among these, the healthcare segment accounted for over 26.0% market revenue share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The concerns about the risk of passing infections via direct contact with numerous medical equipment are driving the market demand. There is an increasing need for antimicrobial additives in the healthcare sector owing to the increasing old age population and healthcare awareness.
Asia Pacific is estimated to hold the largest share of the antimicrobial additives market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the antimicrobial additives market over the forecast period. The increasing investments in the pharmaceutical and healthcare sectors as well as consumer awareness regarding hygiene and sanitation are significantly contributing to driving the market for antimicrobial additives. The growing automotive, healthcare, construction, food & beverage, and packaging sector is responsible for antimicrobial additives market growth.
Europe is predicted to grow at the fastest CAGR in the antimicrobial additives market over the forecast period. The healthcare industry’s explosive growth and rising demand for premium personal care products are driving the market in the region. The increased need for antimicrobial additives owing to urbanization, the aging population, and rising lifestyle diseases in the countries like UK, Spain, Italy, and Germany is driving the market demand.
Major key players in the global antimicrobial additives market include BASF SE, Microban International, BioCote Limited, NanoBioMatters Industries S.L, Milliken Chemical, Sanitized AG, Avient Corporation, RTP Company, Clariant AG, PolyOne Corporation, Momentive Performance Materials Inc., Life Materials Technologies Limited, LyondellBasell Industries Holdings B.V., SteriTouch Limited, Dow Inc., Plastics Color Corporation, Lonza, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In April 2024, Microban International and Berry Global announced a partnership to launch a line of ColorScents scented trash bags with antimicrobial technology that would hit Walmart stores. The partnership perfectly combines Microban’s market-leading expertise in antimicrobial technologies with Berry Global’s manufacturing capabilities.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the antimicrobial additives market based on the below-mentioned segments:
Global Antimicrobial Additives Market, By Type
- Organic Microbial Additives
- Inorganic Microbial Additives
Global Antimicrobial Additives Market, By Application
- Paints
- Fabric/Textile
- Inks
- Paper
- Plastic
- Silicone
- Rubber
Global Antimicrobial Additives Market, By End-Use
- Construction
- Food & Beverage
- Automotive
- Healthcare
- Others
Global Antimicrobial Additives Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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