Antimicrobial Additives Market To Generate Revenue Worth $3,784.3 Million in 2030

The threat of bio-resistance in patients due to administration of antibiotic drugs; growth in the healthcare, food, and medical sectors; and increase in awareness for health-related issues among consumers are the major growth drivers for the global anti-microbial additives market. Due to the aforementioned factors, the industry is projected to generate $3,784.3 million revenue by 2030, advancing at a CAGR of 7.4% during the forecast period (2020–2030).

At the beginning of 2020, due to the COVID-19 pandemic, global manufacturing facilities, including anti-microbial additives, were affected owing to lockdowns across the world. Moreover, due to the continuous spread of the coronavirus, market players as well as governments of most of the countries got affected. Also, the companies have taken some drastic steps for the sake of their employers’ safety, due to which the production and sales of anti-microbial additives reduced.

Plastics and Polymers Witnessed Maximum Demand in Healthcare Sector

The anti-microbial additives market is categorized into plastics and polymers, paints and coatings, laminates, textiles and fabrics, foam, paper, rubber, and ceramics, on the basis of material type. Among these, the plastics and polymers category dominated the market during the historical period (2014–2019), and it is expected to retain its dominance during the forecast period. This is mainly due to the high demand for plastics and polymers in various end-use industries, such as healthcare and food, wherein anti-microbial additives are used for plastic applications, such as packaging polyvinyl chloride (PVC) window blinds, vinyl siding, piping, and insulation.

Furthermore, on the basis of sector type, the anti-microbial additives market is categorized into healthcare, packaging, retail, consumer electronics, building materials/construction, automotive, aviation, marine, and sports goods. Out of these, the healthcare sector is expected to witness the fastest growth during the forecast period. This can be primarily due to the heightened public awareness on hygiene, in order to prevent any type of infections.

Geographically, North America was the largest contributor to the anti-microbial additives market in 2019. This is mainly attributed to the rising adoption of anti-microbial additives, due to their efficient properties and government support for the R&D of products, and presence of major chemical companies in the region.

However, APAC is expected to be the fastest-growing market for anti-microbial additives during the forecast period. This is primarily due to the rising development and technological advancements being made in APAC countries, which, in turn, provide rise to the high-volume manufacturing of such products for different end-use industries.

Partnerships and Collaborations Are the Most-Effective Strategic Measures Taken by Market Players

Players in the anti-microbial additives market are involved in partnerships and collaborations to gain a significant position. For instance, in December 2020, Microban International entered into a partnership with Manchester Mills, which is a textile manufacturer. This partnership will help Manchester Mills to utilize Microban’s anti-microbial technology for developing anti-microbial treated textiles for healthcare facilities. Similarly, in October 2020, Rubbermaid, a manufacturer of home organization and food storage solutions, announced its collaboration with Microban SilverShield, to launch EasyFindLids food storage containers for the protection from microbial growth and damage by using Microban’s technology.

The major players operating in the global anti-microbial additives market include The Dow Chemical Company, LyondellBasell Industries B.V., Clariant International Limited, BASF SE, DuPont de Nemours Inc., Akzo Nobel N.V., Momentive Performance Materials Inc., RTP Company, Avient Corporation, Microban International Ltd., Milliken Chemical Company, Biocote Limited, and Sanitized AG.