“Worldwide market size of antimicrobial additives is expected to achieve more than USD 5 billion by 2030”, says Visiongain
15 October 2019
Visiongain’s new report the Antimicrobial Additives Market Report 2020-2030: Forecasts by Type (Inorganic, Organic), By End Use (Healthcare, Packaging, Food & Beverage, and Construction), By Application (Plastic, Paints & Coatings, Pulp & Paper), by region and analysis of leading companies operating in this industry.
According to a fresh study from Visiongain, the worldwide market size of antimicrobial additives is expected to achieve more than USD 5 billion by 2030. Expanding at a CAGR of 10 percent over the forecast period is expected. Market growth is driven by rising demand from various end-use industries, such as healthcare, packaging, food and beverage. In terms of revenue in 2020, these three end-use sectors accounted for a market share of more than 60%.
In the manufacture of medical devices such as sheaths, guidewires, access systems, guiding catheters, diagnostic catheters and thrombectomy instruments, antimicrobial additives are increasingly used to avoid microbial development. High incidence of illnesses combined with geriatric population, sedentary lifestyle, and unhealthy dietary habits may fuel additional demand for these appliances, which is expected to boost market growth in turn.
Due to their use in a wider spectrum of products and applications, including paints, coatings, textiles and polymers over organic additives, inorganic additives are anticipated to achieve important prominence over the coming years. They also have great capacities for protection. Inorganic additives such as copper salts, for example, provide antimicrobial protection in preservative and sterilized apps, with paints, coatings and polymers being the fundamental substrates or layers.
During the forecast period, Asia Pacific is projected to be the fastest growing region. It is anticipated that the rapidly increasing healthcare sector and the dominant packaging industry will boost the use of products in the region. The U.S. has been a significant consumer of antimicrobial additives on a global scale for many years. Some of the variables driving market growth in the healthcare sector are high demand for sophisticated medical facilities owing to the availability of reimbursement coverage and the active development of healthcare infrastructure.
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