Antimicrobial Additives Market Expected to Grow at a CAGR of 8.0% During 2015-2025

Antimicrobial additives or agents are chemical ingredients typically utilized in definite proportions to prevent fungal, bacterial and algal growth in materials exposed to high levels of moisture, ultra violet radiation or unsanitary conditions. In order to improve hygiene standards and durability of products, these additives have gained substantial traction among product manufacturers in the recent past.

Market Dynamics:

The benefits offered by anti-microbial products include quality enhancement of equipment / materials in terms of resistance towards microbial growth, improved product performance and durability. In addition, various environmental regulations are driving growth of the global anti-microbial additives market. Some of the underlying factors driving growth of the market include changing consumer lifestyle, i.e. shifting preference towards hygiene and disposable products and increasing health awareness among consumers globally.

Some anti-microbial additives are hazardous to the environment when disposed. Research initiatives by environmental institutions suggest that anti-bacterial chemicals constitute 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 in the global anti-microbial additives market.

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Widening scope of anti-microbial additives usage in healthcare products such as medical devices, disposable hygiene products and other medical devices is identified as one among the key trends in the market. Stringent environment regulations have prompted anti-microbial additives manufactures to innovate and launch new compositions in order to meet safe disposal and anti-bacterial properties criterion.

Application Analysis:

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. In terms of market value, paints and coatings, plastics and fabric / textile segments are projected to exhibit above average growth rates during the forecast period. The incremental $ opportunity of these three high-growth application segments is collectively expected to reach around US$ 7,265.8 million, which is approximately five times when compared to total incremental opportunity of other four application segments during the forecast period.

End Use Industry Analysis:

On the basis of end use industry, the antimicrobial additives market is segmented into building and construction, healthcare, automotive, electronics, food and beverages and other end use industries. In terms of market value, healthcare and food and beverages industry are projected to exhibit above average CAGR during the forecast period, with the remaining end use segments collectively expected to expand at a CAGR of 6.6% during the forecast period.

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Regional Analysis:

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, Middle East and Africa and Japan. In terms of market value, Latin America and Asia Pacific excluding Japan are expected to expand at an above average CAGR while all other regions are collectively projected to grow at 6.9% CAGR during the forecast period.

Markets in developing economies are expected to represent incremental opportunity of around 1.4X for antimicrobial additives manufacturers as compared to the incremental opportunity in developed markets over the forecast period. Market value share of Asia Pacific excluding Japan is expected to increase by over 5% between 2015 and 2025, followed by North America and Western Europe with their respective expected shares. BRICS antimicrobial additives market in terms of value is projected to register a promising CAGR of 9.2% during the forecast period.

Key Players:

Some 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 and Nanobiomatters.

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