(PharmaNewsWire.Com, February 04, 2020 ) The report "Antimicrobial Additives Market by Type (Inorganic (Silver, Copper, Zinc), Organic (OBPA, DCOIT)), Application (Plastic, Paints & Coatings, Pulp & Paper), End-Use Industry (Healthcare, Packaging, Food & Beverage, Construction) - Global Forecast to 2021", The global market size of antimicrobial additives is projected to reach USD 3.95 Billion by 2021, registering a CAGR of 6.7% between 2016 and 2021.
The market is driven by the rapid growth of the healthcare and packaging industries in the Asia-Pacific region. In the recent times, China, South Korea, Japan, and India are witnessing high demand of antimicrobial additives, mainly due to the growing urbanization, aging population, and proliferating lifestyle diseases. This is fueling the growth of the antimicrobial additives market in this region. Properties such as non-toxicity, environmental friendliness, sustainability, flammability, and high thermal stability of silver antimicrobial additives contribute to the growth of the antimicrobial additives market.
Silver-based antimicrobial additives to account for the major share of the market till 2021
The antimicrobial additives market is segmented by type, namely, inorganic (silver, copper, and zinc), and organic (OBPA, DCOIT, and Triclosan). In 2015, silver-based antimicrobial additive accounted for the maximum share of the overall market and is projected to witness high growth rate during the forecast period.
Healthcare to be the largest industry for the antimicrobial additives market between 2016 and 2021
The antimicrobial additives market is also segmented on the basis of end-use industry. The major end-use industries of antimicrobial additives are healthcare, packaging, food & beverage, construction, automotive, and others (agriculture, electronic goods, personal care, and industrial). The healthcare industry accounted for the largest share in the antimicrobial additives market. This industry is crucial for the antimicrobial additives market due to the volume of additives used. The use of antimicrobial additives in the healthcare industry provides integrated and lasting hygienic antimicrobial protection to products such as breathing circuits, endoscopes, and beds.
Browse in-depth TOC on "Antimicrobial Additives Market” 127 - Market Data Tables 64 - Figures 190 - Pages
Asia-Pacific to be the largest market during the forecast period
The antimicrobial additives market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market, followed by North America, and is projected to be the fastest-growing market during the forecast period. This dominance by the Asia-Pacific region is mainly due to the rapid economic growth, particularly in the healthcare and packaging industries in the region. Also, rapid industrialization in Asia-Pacific, coupled with improved living standard, is driving the market for antimicrobial additives.
Currently, the global antimicrobial additives market is dominated by various market players such as BASF SE (Germany), The Dow Chemical Company (U.S.), Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), Polyone Corporation (U.S.), Sanitized AG (Switzerland), Microban International (U.S.), Biocote Limited (U.K.), King Plastic Corporation (U.S.), and Steritouch Ltd. (U.K.).
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