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Global Antimicrobial Additives Market 2021: By Component (Hardware, Software, Service, Installation & Deployment, Training, Support & Maintenance), By Product Type (CEMS, PEMS), By End-Use (Oil & Gas, Metals & Mining, Power Generation, Chemical & Fertilizer, Pulp & Paper, Pharmaceutical, Others)The Global Antimicrobial Additives market size was valued at USD $3.88 Billion in 2020, USD $4.17 Billion in 2021, forecasted to reach USD $4.47 Billion in 2022, and is projected to reach USD $7.74 Billion by 2030, and is anticipated to expand at a CAGR of 7.33% over the forecast period from 2020 to 2030. Global Antimicrobial Additives Market is the title of an upcoming research report offering by Trusted Business Insights. Key factors have been studied, analyzed, and assessed. Data and information have been presented in a well-planned format, after an in-depth study, resulting in a comprehensive and detailed report. Segmentation of revenue, regions, and countries are included along with driving factors of revenue growth, restraints, as well as opportunities in untapped regions and economies. Detailed information about key players is presented in the company profiles section, which also includes recent developments, strategies, and acquisitions & mergers, etc.
Global Antimicrobial Additives Market OverviewAntimicrobial additives are a substance that can prevent or restrain the growth of microbes such as bacteria, fungi, algae, and mold in or on material, especially plastic. Microbial growth can deteriorate a materials properties through staining, odor, and discoloration.
Global Antimicrobial Additives Market: DynamicsRapid urbanization and evolving trends are leading to increasing awareness among individuals about health, hygiene, and wellness, especially in the developing economies of the Asia Pacific region. This, in turn, is expected to be a major factor that will increase the application of antimicrobial additives. Antimicrobial Additives are being used to prevent microbial growth in sheaths, access systems, guidewires, paints, coatings, textiles, polymers, and many others. Demand for antimicrobial additives is gaining traction in the healthcare industry as well as in household applications to safeguard materials from discoloration and biodegradation, leading to target market growth. Copper-based, zinc-based, and silver-based anti-microbial additives are being extensively applied to a variety of products. These factors are subsequently contributing to global market growth.
Global Antimicrobial Additives Market: Segmentation AnalysisBy Type: Among type market segmentation, the organic type segment is projected to continue its dominance over the forecast period. Organic antimicrobial additives are applied to paints and coatings, as they offer prolonged protection, they prevent staining, and lower biodegradation. Organic additives segment is expected to witness further growth over the forecast term owing to a ban being implemented on the sale and application of oxybisphenoxarsine (OBPA) and triclosan. By Application: In terms of application segmentation, the plastics segment is expected to account for the highest revenue share. Antimicrobial additives prevent microbial growth in plastics, and as such, it is being used on products such as food containers, soap dispensers, breathing devices, etc. These additives provide additional durability for plastics. By End-use: The healthcare segment is projected to account for a majority revenue share throughout the forecast period when compared to other end-use segments. This can be attributed to a growing demand for it in healthcare facilities. Patients in hospitals are often at high risk of developing healthcare-associated infections (HAIs) which is an additional infection that is caused by antibiotic-resistant bacteria. Antimicrobial additives aid in the prevention of such infections and its extensive usage in healthcare is expected to boost the segment growth further.
Global Antimicrobial Additives Market: Regional AnalysisThe market in North America is expected to account for the majority revenue share over the next 10 years. Increasing construction activities and the establishment of schools, colleges, and healthcare facilities in the region are among the factors that are expected to drive the regional market. Implementation of government acts such as the ‘Affordable Healthcare Act in the US is among major initiatives that are expected to boost the adoption of antimicrobial additives. Growth in overall populations in recent years is expected to contribute to the increase in the construction of schools, residential spaces, offices, industrial plants, etc. This is further expected to augment regional market growth. The market in Europe is expected to account for the second-highest revenue share in the global antimicrobial additives market in the coming years. This is due to a flourishing automotive industry in the region. The European Commission has been encouraging foreign direct investment (FDI) from Asian automobile manufacturers such as Toyota and Honda on account of electric vehicle technology, thus, further boosting industry growth.
Below are the leading companies profiled in this Antimicrobial Additives Market Report:
Chapter 1 Methodology and Scope