Antimicrobial Additives Market Poised to Expand at 8.0% CAGR During 2015-2025
The benefits offered by antimicrobial products include quality enhancement of equipment/materials in terms of resistance towards microbial growth, improved product performance, and durability. Preference towards hygieneic and disposable products and increasing health awareness are other key factors fuelling demand.
Some antimicrobial additives are hazardous to the environment when disposed. Research initiatives by environmental institutions suggest that anti-bacterial chemicals constitute a significant portion of soil and water contaminants. The issue of safe disposal and harmful effects of these additives on the eco-system is identified as a restraining factor for the growth of the global antimicrobial additives market.
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Use of antimicrobial additives in healthcare products, such as medical devices and disposable hygiene products is identified as one of the key trends in the market. Stringent environment regulations have prompted antimicrobial additives manufacturers to innovate and launch new compositions in order to meet the safe disposal and anti-bacterial properties criterion.
On the basis of applications, the antimicrobial additives market is segmented into paints and coatings, inks, paper, plastics, fabric/textile, silicone and rubber, and other applications. On the basis of the end use industry, the antimicrobial additives market is segmented into building and construction, healthcare, automotive, electronics, food and beverages and other end-use industries. On the basis of regions, the global antimicrobial additives market is segmented into seven key regions, including Asia Pacific, North America, Western Europe, Eastern Europe, Latin America, the Middle East and Africa and Japan.
As of 2014, the plastics application was the largest segment in the global antimicrobial additives market, followed by paints and coatings, and textile. The plastics application segment is projected to remain the largest segment throughout the forecast period, corresponding to incremental $ opportunity of US$ 2,954 Mn between 2015 and 2025.
As of 2014, food and beverages was the largest end-use industry segment in the global antimicrobial additives market, followed by healthcare. Both these segments are expected to offer similar incremental $ opportunity for the antimicrobial additive manufacturers during the forecast period.
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As of 2014, Asia Pacific excluding Japan (APEJ) accounted for the largest market value share of the global antimicrobial additives market, followed by Western Europe, North America and other regions. Developing regions including APEJ, Eastern Europe, Latin America and the Middle East & Africa collectively accounted for more than 50% share of the overall market in 2014 and are further expected to gain market share by 2025. The BRICS antimicrobial additives market is projected to account for a significant share of the overall market by the end of forecast period and is anticipated to expand at a promising CAGR of more than 9% during the forecast period.
Some of the key players in the antimicrobial additives market that have been covered in this study include AkzoNobel N.V., BASF SE, The Dow Chemical Company, Sanitized AG, SteriTouch Ltd., BioCote Ltd., Life Material Technologies Ltd., Momentive Performance Material Inc., Clariant Chemicals India Ltd. and Nanobiomatters Industries S.L.
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