Antimicrobial Additives Market Expected to Surge at 8.0% CAGR During 2023-2033 Assessment Period

Posted on 2024-02-11 by Future Market Insights in Chemicals // 0 Comments

Antimicrobial Additives Market

According to Future Market Insights (FMI), the global antimicrobial additives market is poised for substantial growth, with projected value soaring from US$ 9,615.5 million in 2023 to US$ 20,809.5 million by 2033. Anticipating a robust 8.0% compound annual growth rate (CAGR) over the next decade, this trajectory signifies a thriving market landscape. Factors such as increasing awareness regarding hygiene and rising demand across various end-use industries are expected to propel the sales of antimicrobial additives on a global scale, indicating promising opportunities for industry stakeholders in the coming years.

Increasing consumption of antimicrobial additives in food and beverage sector is a key factor driving the global market. Subsequently, rising adoption of antimicrobial-protected products for reducing the risk of infections and improving safety will boost the market.

Antimicrobial additives have become essential solutions for inhibiting growth of microbes. They extend the shelf life of products and reduce the risk of disease spread. As a result, they are being increasingly used in consumer products such as clothing, packed food items, etc.

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Growing usage across sectors such as healthcare, food & beverages, automotive, electronics, etc. is expected to fuel antimicrobial demand during the assessment period.

Antimicrobial additives find application in the healthcare sector to create a sterile environment in hospitals. They are used in numerous medical products including ventilators, examination tables, and hospital beds to reduce the spread of infections.

Rising demand for medical devices containing antimicrobial substances will bolster sales in the global market through 2033.

Regionally, North America remains the leading consumer of antimicrobial additives owing to the high demand for safe consumer items and rising awareness & consumer preference for antimicrobial products.

Prominent manufacturers of antimicrobial additives are focusing on expanding their customer based and footprints by acquired local players and launching new innovative products. They are investing rigorously in research and development to meet the regulatory standards and find newer applications for the same.

Key Takeaways from the Antimicrobial Additives Market Report:

The global market of antimicrobial additives is projected to expand at 0% CAGR between 2023 and 2033.
By product type, the inorganic segment is expected to remain a prominent segment accounting for over 60% of the overall market.
By application, hygiene chemicals segment is expected to account for around one-fourth of the global antimicrobial additives consumption.
The United States antimicrobial additives market is poised to thrive at 4% CAGR through 2033.
Antimicrobial additive demand in China is forecast to increase at 6% CAGR from 2023 to 2033.

“The market for antimicrobial additives has the potential for significant growth because there is an increasing demand for products that are capable of self-cleaning and can prevent the spread of harmful microorganisms. This in turn will create a plethora of opportunities for antimicrobial additive manufacturers.” – says a lead analyst at FMI

Competitive Landscape

The global antimicrobial additives market is moderately consolidated with key players holding around 33% to 38% of the market share. BASF SE, Lanxess AG, DuPont de Nemours, Inc., Ecolab, Inc., Solvay S.A., and others are the leading antimicrobial additive manufacturers profiled in the comprehensive version of the report.

Key players are certainly focusing on expanding their production capacity to increase their market presence all over the globe and to gain maximum traction in the market. They are also investing significantly in acquisitions to curb their competition. For instance,

In 2022, to strengthen its antimicrobial additives portfolio, Polygiene acquired the SteriTouch business of Radical Materials.

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Global Antimicrobial Additives Market Segmentation:

By Product Type:

Organic
- Quaternary Ammonium Compounds
- Phenolic Biocides
- Others
Inorganic
- Silver Ion Anti-Microbial Additives
- Zinc Anti-Microbial Additives
- Copper Anti-Microbial Additives
- Others

By Form:

Liquid
Powder
Masterbatch Pellet

By Application:

Hygiene Chemicals
- Homecare Chemicals
- Commercial & Industrial Cleaning Chemicals
Packaging
- Consumer Packaging
- Food and Beverages Packaging
Personal Care and Cosmetics
Consumer Electronics, Durables & Appliances
Commercial and Household Products
- Sanitary ware Products & Accessories
- Kitchenware and Tableware
Textile and Fabrics
- Technical Textile
- Apparels and Garments
- Furniture and Curtain Upholstery
- Footwear
Toys & Stationery
Paints, Coatings and Inks
Medical Devices (Healthcare Equipment)
Transportation
High Touch Surfaces (Handles/Locks/Countertops)
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Russia and Belarus
Balkan and Baltic Countries
Central Asia
East Asia
South Asia and Pacific
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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