Antimicrobial Additives Market is projected to reach $7.5 billion by 2027, growing at a CAGR of 6.8% from 2020 to 2027

According to a new report published by Report Ocean, titled, "Antimicrobial Additives Market by Product Type, Application, and End-Use: Opportunity Analysis and Industry Forecast, 2020-2027," the global antimicrobial additives market was valued at $5.1 billion in 2019, and is projected to reach $7.5 billion by 2027, growing at a CAGR of 6.8% from 2020 to 2027.

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Antimicrobial additives are active ingredients that are capable of resisting, inhibiting, and preventing the growth of microbes such as bacteria, mold, and others. These additives inhibit, and prevent cross contaminating microorganism by causing damage to cell wall or by imparting damage to DNA. Silver, copper, zinc, and other antimicrobial additives offer long term antimicrobial action when incorporated during manufacturing of products. Silver antimicrobial additive will impart specific antimicrobial action and can be formulated into different forms such as concentrated powder, liquid suspension, or masterbatch pellets.

The global antimicrobial additives market is driven by increase in applications of these additives in the food & beverage, construction, healthcare, and other industries. Rising use of antimicrobial additives during manufacturing of plastic products such as acrylonitrile butadiene styrene, ethylene vinyl acetate, high impact polystyrene, polyethylene, and others, is another growth factor in the global market.

Food packaged products are mostly vulnerable to spoilage and microbial contamination. Antimicrobial additives play a vital role in inhibiting the microorganism growth in these food products and in turn enhance the shelf life of products. These are the major growth factors in the global antimicrobial additives market. However, microorganism tends to develop resistance toward antimicrobial additives and use of these additives will no further inhibit the growth of microbes. For instance, European Molecular Biology Laboratory (EMBL) and researchers from Germany, France, Switzerland, the UK, and the U.S conducted research that includes combinations of antimicrobial additives used in the food & beverage industry.

These combinations were used on three MDR (multidrug-resistant) bacteria and shown a result where two bacteria had developed resistance toward combination of antimicrobial additives. It is the major factor that is predicted to hamper the market growth during the forecast period. . Product development of antimicrobial additives is predicted to offer new opportunity in the global market. For instance, plant based antimicrobial additives are developed using latest technology.

The global antimicrobial additives market is segmented by product type, application, end-use, and region.

Based on product type, the global antimicrobial additives market is categorized into inorganic antimicrobial additives and organic antimicrobial additives. Inorganic antimicrobial additives include silver, copper, and zinc. Organic antimicrobial additives includes 4,5-Dichloro-2-N-Octyl-4-Isothiazolin-3-One, oxybisphenox arsin, triclosan, and others. The inorganic antimicrobial additives segment accounted for the largest market share in 2019.

Based on application, the global antimicrobial additives market is segmented into plastic, paints & coatings, pulp & paper, and others. In 2019, the paints and coatings segment accounted for the largest market share as well as witnessed the highest growth during the forecast period.

Based on end-use, the global antimicrobial additives market is segmented into construction, automotive, healthcare, food & beverage, and others. The healthcare segment accounted for the largest revenue in 2019, and it is further expected to grow at the highest CAGR during the assessment period.

Based on region, the global antimicrobial additives market is studied across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific antimicrobial additives market size is projected to grow at the highest CAGR of 7.6% during the forecast period and accounting for 38.1% of antimicrobial additives market share.

The global antimicrobial additives market profiles the leading players that include BASF SE, BioCote Limited, Clariant AG, King Plastic Corporation, Microban International Limited, Milliken Chemical, Sanitized AG, Lyondell Basell, PolyOne Corporation, and DOW Inc.

Key findings of the study

By region, Asia-Pacific accounted for the largest market share in 2019, owing to vast consumer base for food & beverages and other end-users, in countries such as India and China.
By product type, the inorganic antimicrobial additives segment holds the largest market share in 2019.
By application, the plastic segment is anticipated to witness the highest CAGR in terms of revenue, during the forecast period.
By end-use, the healthcare segment holds the largest market share in 2019, while the construction segment is anticipated to witness the highest growth rate in terms of revenue, during the forecast period.
Countries such as China, the U.S., Germany, and India, are emerging as investment centric economies.
Emergence of COVID-19 event has mix effects on the growth trajectory of this market.
Impact Of Covid-19 On The Global Antimicrobial Additives Market

The COVID-19 pandemic has negatively affected the global economy and is subsequent shrinking the GDP in global economies, thereby changing consumer spending patterns globally.
Antimicrobial additives are gaining importance in healthcare sector owing to their capability of reducing COVID-19 virus that is trapped on various surfaces.
COVID-19 pandemic has enhanced the production of face masks, protective apparel, and others that are used to prohibit the spread of virus. Antimicrobial additives are incorporated during manufacturing of these primary protective equipments (PPE).
Major key-players in the global market are launching innovative antimicrobial additives to tackle the spread of coronavirus.
Automotive manufacturers also prefer incorporation of antimicrobial additives during manufacturing of interiors to curb the spread of trapped virus particles inside the cabin.

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This release was published on openPR.