Antimicrobial Additives Market Pegged at a Phenomenal Pace Surpassing US$ 27,955.6 Mn by 2032 witnessing a growth of 8.2% CAGR - Report by Future Market Insights, Inc.
The United States antimicrobial additives market is projected to expand at a robust pace during the forecast period. This growth can be attributed in part by rising consumption of these ingredients across various sectors such as food and beverages, automobiles electronics etc. Development of New Grades to Create Lucrative Opportunities for Manufacturers in the Global Antimicrobial Additives Market
NEWARK, Del., Sept. 9, 2022 /PRNewswire/ -- The global antimicrobial additives market is valued at around US$ 12,711.5 Mn in 2022 exhibiting an impressive CAGR of 8.2% during the forecast period 2022 to 2032. The market is predicted to reach a valuation of US$ 27,955.6 Mn by 2032.
The global demand for antimicrobial additives is expected to grow at a robust CAGR of 8.2% between 2022 and 2032, as compared to the historical period between 2013 and 2021 during which the CAGR was about 7.7%.
The market is projected to showcase a higher growth rate across the estimation period due to the rising concern among consumers related to personal and family wellness. Furthermore, the presence of strict regulations encouraged the use of antimicrobial products and devices in order to decrease health hazards.
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Key Takeaways
The increased use of antimicrobial additives in paints, inks, fabrics, paper, plastic, and various other applications has driven the overall sales of antimicrobial additives in the future. Antimicrobial additives are known to be active agents that when included in the processing of materials will automatically inhibit the life or growth of microbes.
Antimicrobial additives have proven to be very effective in preventing the growth of infection and various fever-causing microorganisms such as fungi, mold, bacteria, and algae among other materials. These additives have also played a crucial role in extending the shelf life of products.
Various end-use industries are rapidly adopting antimicrobial additives such as automotive, electronics, building & construction, and healthcare, which is expected to bolster the growth of the antimicrobial additives market during the assessment period.
The surge in the consumption of antimicrobial additives in order to exhibit microbial growth on the surface of plastic products and medical equipment is predicted to push the demand for antimicrobial additives.
A drastic consumer shift has been witnessed from conventional materials such as metals and glass towards antimicrobial plastics in the automotive application, which is further expected to fuel demand in the antimicrobial additives market.
In recent years, there is a significant shift toward feminine hygiene products and rising awareness among consumers about prevalent health issues and hygiene owing to the rising spread of viruses and infections has led to an increased customer focus on antimicrobial products such as plastics, coatings, textiles, and others.
Changing lifestyles of consumers and longer exhausting working hours are resulting in higher demand for packaged ready-to-eat and frozen meals. This is anticipated to boost the demand for antimicrobic additives in the forthcoming years.
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Competitive Landscape
Prominent market players are focusing on working with new formulations of antimicrobial products and simultaneously developing more sustainable solutions. Key market participants have shifted their preference towards edible and biobased antimicrobial additives owing to the regulatory pressure for safer additives. In addition to that, other companies are also being acquired in order to generate more revenue and acquire a competitive advantage over the market.
Antimicrobial additive Market Segmentation
By Application:
- Fabric / Textile
- Inks
- Paints and Coatings
- Paper
- Plastic
- Silicone & Rubber
- Others
By End Use:
- Automotive
- Building and Construction
- Electronics
- Food and Beverages
- Healthcare
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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More Insights into the Antimicrobial Additives Market
The United States antimicrobial additives market is projected to expand at a phenomenal pace throughout the forecast period attributed to the rising consumption of antimicrobial ingredients in an array of end-use industries including food and beverages, automobile, electronics, and others.
Over the past few years, changing lifestyles have made people forced to choose packaged food which has resulted in the surge in demand for food additives that increase the shelf life of products. Most food manufacturers in the U.S. use antimicrobial additives in their products in order to prevent the growth of microbes.
Attributing to the surging consumption of antimicrobial additives across the food and beverages, healthcare, construction, and automotive industries, the U.S. is set to possess 16.9% of the overall volume of consumption in 2022.
Due to the rapid growth of the automotive industry in India, the antimicrobial additives market is anticipated to expand at a steady pace across the projection period from 2022 to 2032. Moreover, growing awareness about the benefits of antimicrobial additives and a rise in the number of regional and domestic antimicrobial additive manufacturers.
Over recent years, various manufacturers in the automobile industry are excited to launch new products and collaborate or merge with dominant companies in the sector. Rising demand for luxury commercial vehicles and favorable government regulations is propelling growth in the market.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Antimicrobial Additives Market Demand Analysis 2013-2021 and Forecast, 2022–2032
Have a Look at Related Reports of Chemicals & Materials Domain
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Coating Additives Market Demand: The global coating additives market is projected to surge at steady growth rate and exhibit a CAGR of 4.8% during the forecast period (2017-2022). The global market for coating additives is projected to stand a US$ 8,851.3 Mn by the end of 2022.
Ink Additives Market Growth: The major players in the ink additives market are Evonik TEGO, BASF SE, HUNTSMAN, Dow Corning, Air Products and Chemicals Inc., Shamrock Technologies, Inc.
Specialty Fuel Additives Market Type: Specialty fuel additives that facilitate unclogging of the blocked injectors, minimize duel deposits in the injector nozzle of engines, eliminate knocking, and offer other parameters of fuel safety and quality, are likely to remain high demand across the automotive industry.
Lubricant Additives Market Analysis Forecast: The global lubricant additives market totaled US$ 12.6 Bn in 2021. Sales are projected to increase at a 3.3% CAGR, pushing the market valuation to reach US$ 18.1 Bn by 2032.
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