Smart Healthcare Solutions Are Fastest Growing Segment Fueling The Growth Of Antimicrobial Additives Market
Antimicrobial Additives Market |
The global Antimicrobial
Additives Market is estimated to be valued at US$ 3.01 Billion in 2023 and is
expected to exhibit a CAGR of 6.5%
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
Antimicrobial additives help to
inhibit the growth of microorganisms like bacteria, fungi, algae or yeast, when
added in small concentrations to various materials like plastics, paints,
coatings, etc. They are widely used in medical devices, wound care products,
catheters and other healthcare associated products to prevent hospital acquired
infections.
Market key trends:
Growing demand for smart
healthcare solutions is one of the key trends driving the growth of the
antimicrobial additives market. With rising healthcare costs and increasing
incidence of hospital acquired infections, there is a growing need for
developing smart materials that can actively prevent microbial growth. Many
companies are developing new polymer formulations integrated with silver
nanoparticles, quaternary ammonium molecules and other antimicrobial agents to
enable long lasting protection. These smart solutions are finding increasing
applications in healthcare, hygiene and consumer goods segments.
Segment Analysis
The global antimicrobial
additives market is segmented by application, type, and region. Based on
application, the paints and coatings segment dominated the market in 2022 and
is expected to continue its dominance over the forecast period. This is
attributed to the increasing demand for paints and coatings from construction
and automotive industries, where microbial contamination needs to be prevented.
Key Takeaways
The Global
Antimicrobial Additives Market Size is expected to witness high growth,
exhibiting CAGR of 6.5% over the
forecast period 2023 to 2030, due to increasing demand from industries such as
construction, automotive, consumer goods, and medical to prevent microbial
contamination on surfaces.
Regional analysis
Regionally, Asia Pacific
dominated the global antimicrobial additives market with a share of over 35% in
2022 and is expected to grow at the fastest CAGR during the forecast period.
This is owing to increasing construction activities and growing automotive
industry in China and India. Europe and North America are also expected to
register significant growth owing to strict regulations regarding hygiene and
cleanliness.
Key players
Key players operating in the
antimicrobial additives market are AkzoNobel N.V., BASF SE, The Dow Chemical
Company, Sanitized AG, SteriTouch Ltd., BioCote Ltd., Life Material
Technologies Ltd., Momentive Performance Material Inc., Clariant Chemicals
India Ltd., and Nanobiomatters. The market remains moderately consolidated with
top players accounting for around 45-50% of the global production.
Get More Insights Here
https://www.newsstatix.com/antimicrobial-additives-market-size-share-growth-outlook-2023/
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