Antimicrobial Additives Market Rising With Growth In New Technology Trends Research By 2030Posted by Mrudula Anil Karmarkar on September 27th, 2022 The global antimicrobial additives market size is expected to reach USD 4.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.6% from 2022 to 2030. The demand is ascending at a prominent rate owing to increasing product consumption in medical devices & equipment and other end-use industries, such as packaging, food & beverage, healthcare, personal care, and electronic goods. They are majorly utilized to enhance the physical as well as chemical properties, increase shelf life & aesthetic value of materials, and minimize the risk of microbes, such as MRSA and legionella. The product demand is expected to increase majorly in the healthcare and packaging application industries owing to the COVID-19 pandemic. The continuously rising demand for healthcare and packaging products due to increasing cases of COVID-19 will positively impact the market growth. The Asia Pacific is expected to dominate the global market due to the presence of major healthcare product manufacturers in the region. According to the U.S. Centers for Disease Control and Prevention (CDC), each year about 1 in 25 patients is diagnosed with at least one health-related infection. Medical devices, such as urinary catheters, vascular access devices, or enteral feeding tubes, are particularly susceptible to the colonization of bacteria, which can enter the bloodstream. Thus, medical device manufacturing companies are focusing on using antimicrobial additives for blending with medical device polymers as these additives are highly successful in preventing bacterial colonization on the surface of device components. Based on type, the global market is segmented into organic and inorganic. Inorganic was the prominent segment and accounted for around 52.0% of the global revenue share in 2021. The inorganic type of segment is expected to witness significant growth due to the high demand for silver, copper, and zinc based additives. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, and protecting microbial growth. The rising population and rapid urbanization in emerging economies of Asia Pacific are likely to boost the growth of the end-use industries, which, in turn, is expected to escalate the product demand over the forecast period. The product demand is expected to increase majorly in the healthcare and packaging application industries. Rising demand for healthcare and packaging products, due to the growing number of COVID-19 cases around the world, is projected to support the market growth. The Asia Pacific is expected to dominate the global market on account of the strong presence of the major healthcare product manufacturers. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/antimicrobial-additives-market/request/rs1 After the pandemic, Japan, India, and Indonesia are expected to contribute to the growth of the construction sector in the Asia Pacific region owing to increasing consumer disposable income and rising government spending on large infrastructural projects. Ascending demand for commercial, residential, and institutional buildings in China, on account of a growing population, is in turn, contributing to the growth of the market. Antimicrobial Additives Market Report Highlights
The market in the U.S. is expected to witness moderate growth over the coming years. The high demand for advanced healthcare services owing to the well-developed healthcare infrastructure and reimbursement coverage plans is anticipated to drive the growth of the medical devices industry in the country. A constantly growing target population and rise in the number of car accidents are projected to propel the demand for surgeries. This, in turn, will drive the product demand in the country in the years to come. However, stringent regulations have made the antimicrobial additives suppliers introduce and set up new compositions to meet the safe administration and anti-bacterial properties standards, such as Biocidal Products Regulation (BPR) EU 528/2012 and Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA). Thus, such stringent regulations are expected to hamper the market growth during the forecast period. The inorganic type segment led the market and accounted for approximately 52.6% share of the global revenue in 2021. High demand for silver, copper, and zinc based additives is projected to fuel the segment growth during the forecast period. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, high thermal stability, and protection against microbial growth. Zinc pyrithione is added to the materials that are prone to exposure to mold spores and fungi as the additive offers excellent antibacterial protection. Copper salts provide antimicrobial protection in preservative and sterilized applications with underlying substrates or layers being paints, coatings, and polymers. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/3399/ibb The global antimicrobial additives market is significantly fragmented owing to the presence of many manufacturers across the globe. Global players face intense competition from each other as well as from regional players, who have a strong awareness of regulations and suppliers in the markets. Prominent players are involved in activities, such as mergers & acquisitions, expansion of manufacturing facilities, investments in R&D, and seeking opportunities to vertically integrate across the value chain. For instance, in August 2018, LyondellBasell Industries Holdings B.V. expanded its polymer business by acquiring A. Schulman Inc. In November 2022, Sanitized AG partnered with Bodo Moller Chemie for the distribution of sanitized antimicrobial additives in the Eastern Europe market. In October 2020, Sanitized AG also partnered with FERRO-PLAST for the Italian market. This strategic sales partnership for antimicrobial polymer additive products is expected to help both companies in a long run. Some prominent players in the global antimicrobial additives market include:
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