January 18, 2023 11:15 ET | Source: Straits Research Straits Research

New York, United States, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Chemical components or particular solutions known as antimicrobial additives are infused throughout the production process into a product. Until the product's shelf life, these additives either kill or restrict the growth of microbes. They can also enhance a surface's functionality by permanently reducing the adverse effects of microbes. Manufacturers can now offer safer, cleaner, and more hygienic products, giving them a competitive advantage right away.

Antimicrobial describes products or substances that contain antimicrobial additions and agents to prevent the growth of microorganisms, such as bacteria, fungi, algae, yeasts, mildew, and other parasites, that cause fever and diseases. Untreated particles become home to microorganisms that cause unpleasant odors, issues with polymer breakdown, and discoloration. Antimicrobial substances are employed to stop the growth of these microorganisms in the finished goods.

Microorganisms can disrupt the functioning of various items, including food and drink, polymers, paints and coatings, and medicinal products. Researchers have shown that nine out of ten consumers are now looking for items with a tried-and-true antibacterial technology due to the expanding health-conscious populace.

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Rapid Consumer Shift and a Growing Number of End-Use Industries Are Driving the Market

The market is propelled by a rising number of end-use industries, rising antimicrobial product adoption, and rising use of silver-based products as antimicrobial additives. Antimicrobial additives are used in several end-use industries, including paper and pulp, building and construction, commercial, healthcare, and automotive. The need for antimicrobial compounds in the paints & coatings industry is driven by increased vehicle production and investment in the broader manufacturing sector. The advantages of these antimicrobial compounds are also utilized by the pharmaceutical, personal care, and cosmetics industries. Additionally, customers' speedy transition from conventional materials like glass and metal to antimicrobial polymers for automotive applications would increase demand for antimicrobial additives.

Antimicrobial additives that are affordable and adhere to the minimum standards or regulations outlined in the area are in high demand today. There is an increasing need for non-toxic plastics with improved properties like high antimicrobial activity, hardness, durability, and transparency. Antimicrobial additives are used by numerous large-scale plastic and paint coating manufacturers in products like medical equipment, bottles, and food packaging.

Government regulations will further impede the market expansion for antimicrobial additives throughout the forecast period. Moreover, fluctuating raw material costs are one of the major obstacles preventing the market for antimicrobial additives from expanding. Silver, copper, and zinc are the primary raw minerals that produce products containing antimicrobial compounds. These raw ingredients are costly. The high price of silver antimicrobials restricts their application in various items, particularly in South America and Asia-Pacific.

The prices of the raw materials used to make antimicrobial products, silver, and zinc, are actively traded commodities and change periodically.

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Asia-Pacific is the dominating region and is expected to grow at a significant CAGR during the forecast period. Key market expansion drivers in this region include rising demand for antimicrobial additives from the building and construction sector, economic expansion, particularly in the healthcare and packaging sectors, and quick industrialization. India is the primary driver of the market's growth, and it is anticipated that it will expand at a high CAGR of 7.2% over the projected period. Due to expanded industrial capacity and rising consumption, India's construction industry is expanding quickly. In addition, behind agriculture, the construction industry is India's second-largest sector. Due to different projects like the construction of buildings, roads, irrigation systems, and railways, India is anticipated to rank among the top global construction markets by 2025. 

The market for antimicrobial additives in Europe will grow due to the region's increased exports and the rising demand for skin, hair, and personal care products. As personal care and cosmetics product production rise in Europe, new materials and chemicals will enable extended shelf life and boost consumer demand. Another factor driving product demand is the increasing number of working professionals in the region, who have fueled the demand for high-end personal care items. The production of these products, which prevent the growth of bacteria using a variety of synthetic & natural ingredients, will result in a significant increase in the market for antimicrobial additives for personal care applications in Europe by 2025.

North America dominated the antimicrobial additives market in 2019. The rise of end-use industries, prominent market participants, and the growing public awareness of the different advantages of antimicrobial additives are chiefly responsible for this.

Competitive Players in the Global Antimicrobial Additives Market

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Global Antimicrobial Additives Market Segmentation

Table of Content and Figure @ https://straitsresearch.com/report/antimicrobial-additives-market/toc

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Antimicrobial Coatings Market to Expand at a Healthy CAGR During Forecast Period

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