Antimicrobial Additive - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Antimicrobial Additive - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Antimicrobial Additive Market size is estimated at USD 4.88 billion in 2024, and is expected to reach USD 6.62 billion by 2029, growing at a CAGR of 6.31% during the forecast period (2024-2029).

Antimicrobial additives restrain the growth of microorganisms throughout the useful life of the product, enhance product life & hygiene, and provide value addition to an end product. These additives are infused into a product during the manufacturing process. The growing product application in plastic and healthcare segment has been driving the market growth.

However, the issue of safe disposal and harmful effects of these additives on the eco-system are likely to hinder the expansion of the studied market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak is also likely to hamper market growth.

The advancements such as the use of antifungal protection to preserve flexible polyvinyl chloride are likely to deliver opportunities for the antimicrobial additive market over the next five years.

Asia-Pacific region dominates the market across the world with the escalating consumption of antimicrobial additive in plastic and healthcare sector.

Antimicrobial Additives Market Trends

Plastic Segment to Dominate the Market

• Plastic segment stands to be the dominating segment owing to the extensive consumption of plastic in various end-user industries like packaging, automotive and construction amongst others.
• Plastic is susceptible to microbial growth including bacteria and mold. Therefore antimicrobial additives are incorporated during the production process of plastics and offer resistance against various microbes, thus, resulting in the long-term durability of plastic products.
• Plastics are extensively utilized in soap dispensers, food containers, surgical products, and breathing devices, etc. which augment the demand for antimicrobial additive in the forecast period.
• Asia-Pacific countries like China, India, etc have been registering strong growth in the utilization of antimicrobial additive in food and beverage and healthcare industry, which is expected to drive the market over the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region stands to be the largest market for antimicrobial additive. Factors, such as extensive application in food and beverage and healthcare industry are expected to propel the market growth.
• Beneficial attributes of antimicrobial additives like inhibition of bacterial, algal, and fungal growth for those materials exposed to ultraviolet radiation, unsanitary conditions and moisture are likely to drive the market growth.
• Incorporation of antimicrobial additives in healthcare furnishings and medical equipment is a step toward minimizing the risk of bacteria attack in the healthcare environment.
• Rising demand for inorganic additives in a wide range of applications, including textiles, paints, polymers, and coatings is anticipated to propel the market growth during the forecast period.
• The food and beverage end-use segment is expected to increase the demand of antimicrobial additive owing to continuous utilization of additives in shelving, flooring, and food processing equipment, ice making machines, storage containers, water coolers, and water hydration systems in the food and beverage industry.
• Hence, all such market trends are expected to drive the demand for antimicrobial additive market in the region during the forecast period.

Antimicrobial Additives Industry Overview

The global antimicrobial additive market is fragmented with the presence of a few large-sized players and a large number of small players operating. Some of the major companies are BASF SE, BioCote Limited, RTP Company, Clariant and Microban amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support