Rising cases of Healthcare-associated Infections (HCAIs) and Hospital-acquired Infections (HAIs) is a significant factor driving market revenue growth
The global antimicrobial additives market size is expected to reach USD 4.66 billion in 2028 and register a CAGR of 8.3% over the forecast period, according to a latest report by Reports and Data. Rising demand for antimicrobial additives in the healthcare industry across the globe is anticipated to drive market revenue growth in the forthcoming years. Increasing cases of Healthcare-associated Infections (HCAIs) and Hospital-acquired Infections (HAIs) worldwide is also contributing to growing utilization of antimicrobial additives for the production of medical devices. According to the Centers for Disease Control and Prevention (CDC), every year, HAIs account for an estimated 1.7 million infections and 99,000 associated deaths in American hospitals alone. Out of the total number of infections, 32% of all HCAIs are urinary tract infections, 15% are lung infections, 22% are surgical site infections, and 14% are bloodstream infections. Antimicrobial additives are specially applied on medical plastic items which are inserted into the body and exposed to bodily fluids. Applications of antimicrobial additives helps in preventing bacteria from attaching to the surface of medical devices and inhibit growth of bacteria.
Growing consumer awareness regarding various health issues, owing to outbreaks of life-threatening diseases is another factor which is boosting demand for antimicrobial additives in the healthcare industry, as these additives provide effective protection against viruses such as influenza B and Avian influenza. Increasing need to maintain hygiene and cleaning protocol in order to minimize the risk of microbial cross-contamination in critical environments is expected to drive antimicrobial additives market revenue growth. Antimicrobial additives are also incorporated into plastic compounds used for diagnostic equipment housings, bed rails, and device handles. Major players such as BioCote Ltd, RTP Company, Inc., Clariant AG, and Microban International, Ltd., are increasingly investing in research & development activities for the production of effective antimicrobial additives and meet necessary safety regulations.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
BASF SE, BioCote Ltd, RTP Company, Inc., Clariant AG, Microban International, Ltd., Milliken Chemical Company, Avient Corporation (PolyOne Corporation), SANITIZED AG, Lyondellbasell Industries Holdings B.V., and Dow Inc.
Market Segmentation by Types:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Organic Antimicrobial Additives
- Inorganic Antimicrobial Additives
Application Channel Outlook (Revenue, USD Billion; 2018-2028)
- Paints & Coatings
- Pulp & Paper
End-use Channel Outlook (Revenue, USD Billion; 2018-2028)
- Building & Construction
- Food & Beverage
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Antimicrobial Additives market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some Key Highlights in the Report
- In July 2020, Powder Technology Inc. (PTI) entered into an official partnership with Biocote, which is a leading player in the antimicrobial additive market. This partnership was established to bring antimicrobial powder coating to the U.S. market.
- Inorganic antimicrobial additives segment is expected to account for largest revenue share in the global antimicrobial additives market over the forecast period. High demand for these additives from various end-use industries is anticipated to boost growth of this segment. Industries such as food packaging and healthcare are increasingly utilizing inorganic antimicrobial additives as these are non-toxic, eco-friendly, and have high thermal stability.
- Plastics segment is expected to register steady revenue growth over the forecast period. As plastic is susceptible to microbial growth, the need to minimize the risk of bad odors, staining, and material degradation is increasing at a fast pace. It is further bolstering the utilization of antimicrobial additives in plastic products.
- Healthcare segment is expected to account for a steady revenue share in the global antimicrobial additives market, owing to rising cases of HCAIs and HAIs across the globe.
- The antimicrobial additives market in Asia Pacific is expected to account for largest revenue share over the forecast period. In emerging economies, governments are increasingly investing in the development of infrastructure projects, which, in turn, is expected to propel growth of antimicrobial additives market during the forecast period.
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