Global Antimicrobial Additives Market, 2013-2023
An antimicrobial additive is the substance which can resist, inhibit and prevent the growth of microorganisms. They effectively kill microbes, protozoans, bacteria, and fungi which cause foul odors, discoloration, corrosion, and other problems on untreated surfaces. The additives are embedded with any product during the process of manufacturing. These additives are applied in many end-use industries such as healthcare, construction, packaging, textile, food and beverage, and automotive.
The global antimicrobial additive market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global antimicrobial additive market is growing at a fast pace and increasing its geographical footprint rapidly. The global antimicrobial additive market is valued at US $ xxx million dollars in 2018 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2023 in value.
Antimicrobial additive-induced plastic acts as an efficient replacement of glass and metals in heart-lung machines and medical ventilators. Hence, this is a major driving factor for the market growth. Additionally, the demand for antimicrobial additives has been risen up in the automotive, textiles, personal care, and consumer electronics industries due to the growing demand for hygienic products with increasing health awareness. Further, paper packaging for food and medicine requires additives, thus boosting the market growth.
Stringent regulations such as the Biocidal Product Regulation and Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) are likely to hamper the growth. Moreover, varying cost of raw materials is also another factor to hamper the market growth.
The antimicrobial additives market has remarkable usage across all major regions in the world including Europe, APAC, North America, Middle East and Africa, and Latin America. The leading players in global antimicrobial additives market are NanoBioMatters Industries S.L., BASF SE, A. Schulman, Inc., Clariant AG, and so on.
The research process includes the market segmentation of the global antimicrobial additives market, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the global antimicrobial additives market industry experts from across the global industry. Market Krystal held more than 40 interviews for this study, details of which are mentioned:
By company type: Manufacturers (30%), Suppliers (30%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)
By geography: North America (35%), Asia (30%), Europe (20%), Rest of the World (15%)
By designation: Top level (40%), Operation level (20%), Mid-level (40%)