Antimicrobial Additives Market Growth, Leading Players and Future Analysis
Due to the increasing population, the construction, healthcare, and packaging industries are growing. Another key driver for the healthcare industry is the rising incidence of chronic diseases. This is expected to be a reason behind the increase in the global antimicrobial additives market revenue to $3,784.3 million in 2030 from $1,753.2 million in 2019, at a 7.4% CAGR between 220 and 2030.
Another industry where the usage of such compounds is rising is food packaging, with the Association for Packaging and Processing Technologies estimating this sector to be worth $400 billion by 2025. During long-distance transportation, microbes, especially fungus and mold, can spoil ready-to-eat products. Therefore, the anti-microbial additives market is growing on account of the usage of such compounds in packaging materials.
In the near future, the fastest anti-microbial additives market growth, on the basis of material type, is projected to be observed in the plastics and polymers category. In the construction and healthcare sectors, plastics and polymers are widely used in window blinds, insulation, pipes, and vinyl sidings. Moreover, these materials are replacing conventional materials during the production of medical devices, which is why they are now being bolstered with anti-microbial additives.
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The global antimicrobial additives market competition is shaped by major players such as LyondellBasell Industries B.V., The Dow Chemical Company, BASF SE, Clariant International Limited, Akzo Nobel N.V., DuPont de Nemours Inc., RTP Company, Momentive Performance Materials Inc., Microban International Ltd., Avient Corporation, Biocote Limited, Milliken Chemical Company, and Sanitized AG.
