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Antimicrobial Additives Market To Generate Revenue Worth $3,786.8 Million by 2030

Published Date:   July 2020

The increasing focus on the risks of bio-resistance among patients and attention on economic and social implications of hospital-associated infections (HAIs) are key factors that are positively impacting the growth of the antimicrobial additives market. Due to these factors, the global market is expected to generate $3,786.8 million revenue by 2030, advancing at a CAGR of 7.5% during the forecast period (2020–2030).

Inorganic Antimicrobial Additives To Hold Larger Share in Market throughout Forecast Period

The demand for inorganic antimicrobial additives has been on the road to high-value growth, on account of their non-toxic profile, abundance of base metal salts, and high degree of computability with a number of substrates.

The healthcare industry accounted for a considerable share of the global antimicrobial additive demand in 2019. Moving forward, the perceived benefits of integrating antimicrobial additives in products, such as a reduction in bioburden, long-lasting efficacy of these formulations, and low threat of retention or development of any form of bio-resistance, are likely to further contribute toward the increasing adoption of these products.

In Q1 2020, the antimicrobial additives market suffered some initial headwinds, due to Covid-19. The suspension of mining and trade activities affected raw material supply lines and manufacturing. However, the demand for healthcare equipment and products to combat the pandemic led to a significant growth in the industry, and the negative impact was short-lived.

Geographically, the antimicrobial additives market in Asia-Pacific (APAC) is expected to witness lucrative advance, as a consequence of macroeconomic growth, increasing purchasing power, and rising pressure on the healthcare ecosystem in these countries. The region’s high-volume packaging, automotive, medical devices, and consumer goods manufacturing facilities is expected to act as the key enablers for the regional market growth in the foreseeable future.

The U.S. anti-microbial additives market generated the highest demand in 2019. The presence of a high-volume manufacturing sector, which includes numerous small-to-medium sized companies, and technical expertise are expected to result in the market growth in the future. In the wake of COVID-19 and its impact on the healthcare infrastructure and disruptions across several food- and meat-processing facilities across the U.S., manufacturers of healthcare equipment and food and beverage products are expected to adopt antimicrobial coatings.

This, coupled with the possible future risk of contamination, criminal prosecution, and fines, is expected to lead to the integration of these products in patient-contact, food-contact, and processing equipment.

Investments & Strategic Partnerships to Acquire Foothold Are Being Pursued by Players

Players in the antimicrobial additives market are actively engaged in partnerships and investments, aimed at securing product supply lines and diversifying their portfolio. For instance, in January 2020, Allied BioScience announced the initiation of its partnership with Blickman Industries. The companies will produce medical equipment continuously protected by antimicrobial agents, including mayo stands, warming cabinets, anti-microbial-coated intravenous (IV) poles, case carts, and operation room (OR) cabinets.

Browse report overview with detailed TOC on "Antimicrobial Additives Market Research Report: By Type (Organic, Inorganic), End-Use Industry (Healthcare, Food and Beverages, Automotive, Consumer Goods, Packaging, Construction) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/antimicrobial-additives-market

Some of the major players operating in the global antimicrobial additives market are The Dow Chemical Company, Clariant International Limited, LyondellBasell Industries B.V., BASF SE, DuPont de Nemours Inc., AkzoNobel N.V., Momentive Performance Materials Inc., Milliken Chemical Company, RTP Company, PolyOne Corporation, Microban International Ltd., BioCote Limited, and Sanitized AG. Among all, Dupont de Nemours Inc. dominated in the antimicrobial additives market in 2019. The company offers the DOWICIDE and BIOBAN ranges of antimicrobial additives, which have a high degree of compatibility with the company’s range of allied products and chemicals.