Global Low Retention Additive Market 2022-2028

Global Low Retention Additive Market 2022-2028

The global low retention additive market was valued at $110 million in 2021 and is projected to reach $184 million in 2028, growing at a CAGR of 6.8% during the forecast period (2022-2028). Stringent REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) and EPA (Environmental Protection Agency) regulations regarding volatile organic compounds (VOCs) and toxic content in solvent-based additives have led to the commercialization of low retention additives with improved performance. Further, the growing use of fluorosurfactants as wetting and leveling agents and the demand for better performance of low retention additives as compared to other surfactants are fueling the industry’s growth.

Key Market Trends-

Significant demand in the labware and medical industries.

Low retention additives have better performance as compared to other surfactants.

Stringent regulations on VOC emissions by regulatory bodies, such as the EPA (US) and REACH (Europe).

The growing use of fluorosurfactants as wetting and leveling agents.

COVID-19 Long-Term and Short-Term Impact

COVID-19 had a positive impact on the market. Demand for low retention coatings from the pharmaceutical and medical devices sector and hospitals has contributed to the market’s growth significantly during 2021 and 2021. The low retention additive witnessed 15% and 22.6% growth in 2021 and 2021, respectively. COVID-19 has created a significant demand for diagnosis and treatment across the globe. The exponential growth in positive COVID-19 cases gave rise to the demand for quick diagnostic test kits to detect the virus in clinical specimens. The extensive development of PCR diagnostic test kits increased the demand for consumables such as pipettes and centrifugal tubes, which contributed to the demand for low retention additives in the labware industry. In 2021, demand for COVID-19 testing and vaccine production activities in biopharma contributed to the exponential growth of consumables, which boosted the demand for low retention additives globally. At present, the demand for consumables has reached a similar level as before COVID-19 owing to the availability of proper COVID-19 vaccination and diagnostic technologies, which were in high demand till 2022. Hence, in the future, COVID-19 is expected to have a minimal impact on the low retention additive industry’s growth. In place of COVID-19, continuous research and development in genomics, proteomics, and other technologies are expected to maintain the demand for consumables and hence will drive the market growth. 

Segmental Outlook

Low retention additive is used in labware, medical devices, textiles, automotive, packaging, and others (industrial fixtures, contact lenses, and others). Among these, low retention additives are widely used in labware for manufacturing pipette tips, centrifugal tubes, microplates, and others. Low retention additives for the labware market held 34.0% market share in 2021 and accounted for $37.4 million, which is anticipated to reach $67.1 million in 2028, growing at a CAGR of 7.9% during the forecast period. Constant innovation in products, increasing demand for R&D, and a rising number of healthcare settings and diagnostics and liquid handling systems are key drivers responsible for the growth of the market.
 
Regional Outlook

North America dominated the global low retention additive market in 2021, accounting for 43.8% of the total market size. The market value in North America was $48.2 million in 2021, which is anticipated to reach $77.7 million in 2028. The growth is attributed to significant per capita expenditure on healthcare, which aids in the growth of the labware and medical device industries. Further, growing research and developments in biotechnology and life sciences in the region are also contributing to the market’s growth. In Europe, pharma and biopharma companies such as Hoffmann-La Roche Ltd., Novartis AG, Novo Nordisk AS, AstraZeneca Plc, and Sanofi are the major contributors to the market owing to their extensive focus on R&D infrastructure in the region. The market value in Europe was $34.4 million in 2021 and is anticipated to reach $56.6 million in 2028, growing at a CAGR of 6.6% during the forecast period.

Market Player Outlook

Key players are launching products and solutions for different applications to stay competitive in the market.

In October 2021, Avient Corp., a provider of specialized and sustainable material solutions and services, launched two new sustainable polymer solutions as additions to its MEVOPUR line of medical-grade materials for medical and pharmaceutical applications.

In August 2021, Techmer PM, LLC, showcased several new technologies at the MD&M West trade show in Anaheim, California, including a low retention polymer additive that meets stringent EU and US PFOA limits and allows pipette tips to fully evacuate their contents. Additionally, the company introduced a healthcare color palette designed for high-temperature-resistant polyphenyl sulfone (PPSU) resins by applying low retention.