Impact of COVID-19 on Economy, Industry and Company:
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"The Antimicrobial Additives Market is Estimated to be USD 2.077 Billion in 2019 and it is expected to reach more than USD XX Billion By 2028, Likely to Grow at a CAGR of 6.7% during the Forecast Period."
An antimicrobial additive is a solution that is injected in the product during the manufacturing process to kill, prohibited and prevent the growth of microorganisms such as bacteria, protozoans, fungi, and microbes. The antimicrobial additives can be produced in a wide range of materials such as plastics, paints, ceramics, paper, coatings, rubber, and textiles. Antimicrobial additive helps to increase the performance of a surface by reducing the negative effects of microbial that help companies to develop the products that are hygienic and cleaner to use.
Rising Demand from Various End-Use Industries will drive the Antimicrobial Additives Market
Antimicrobial additives prevent the growth of microorganisms which help to increase the product life and added value to the end product. Antimicrobial additives are using various industries such as packaging, healthcare, and food & beverages. In medical devices, the antimicrobial additives are used in various devices such as guidewires, sheaths, guiding catheters, access systems, thrombectomy devices, and diagnostic catheters to limit microbial growth. High chance of disease coupled with population, unhealthy diet, and unhealthy lifestyle is driving the demand of healthcare devices which in turn stimulate the antimicrobial additives market.
Inorganic Additives Segment Dominated the Antimicrobial Additives Market in Terms of Revenue in the Type Segment
Inorganic additives are expected to increase the antimicrobial additives market, owing to use in a wide range of applications and materials such as polymers, paints, textiles, coatings over the organic additives. Also, the high demand for copper-based, silver-based and zinc-based additives is fuelling the demand for inorganic additives. Silver-based additives have properties of nontoxicity, environmentally friendly, high thermal stability and have capacity to prevent the growth of microorganisms.
By Application Segment Paints and Coatings is forecasted to have the Highest CAGR in the Forecast Period
Antimicrobial paints and coatings are zero VOC and waterborne formulation based upon polyethylene resin. Paints and coatings eliminate the expansion of gram-negative and gram-positive odor-causing mold, bacteria, mildew, fungi, viruses and algae on coating surfaces. By increasing, the growth of microorganisms coating may deteriorate and discolor over time. Manufacturers are adding antimicrobial additives in coatings and paints to protect the life cycle of products
Asia Pacific is expected to grow at the Highest CAGR During the Forecast Period
The Asia Pacific has the highest growth rate in the antimicrobial additives market. The Asia Pacific has accounted for around 43.1% share in terms of volume in the antimicrobial additives market. Manufacturer based upon the packaging industry in countries such as Japan, China, and India has increased the sale of food & beverages products which in turn increases the antimicrobial additives market. Asia Pacific is also witnessing the highest CAGR over the forecast period. Also, the growing healthcare industry in this region is the primary factor driving market growth.
After the Asia Pacific, Europe is the second-largest region in the antimicrobial additives market. The increasing construction sector in different countries of the UK, Sweden, the Netherlands, Germany, and Hungary is anticipated to increase the product usage. With the presence of a large manufacturer in North America, especially in the US is expected to increase the antimicrobial additives market.
In September 2016, BASF’s introduced the admixture systems “Masterlife AMA 100”. It is an integral part of admixture to increase the protection of concrete structures against damage. Masterlife AMA 100 protects the products from bacteria and microorganism that decrease the products life cycle through the electrophysical mechanism
Acquisition and merger are the key factors that are adopted by the key players in the antimicrobial additives market. Some of the major companies into antimicrobial additives are BASF SE(Germany), NanoBioMatters Industries S.L., Schulman, Inc., RTP Company, Clariant AG (Switzerland), The Dow Chemical Company(U.S.), Polyone Corporation (U.S.), Biocote Limited (UK), Steritouch Ltd (UK), Sanitized AG (Switzerland), King Plastic Corporation (U.S.), and Microban International (U.S.) among others.
Antimicrobial Additives Key Market Segments:
- Inorganic Antimicrobial Additives
- Organic Antimicrobial Additives
- Oxybisphenox Arsine (OBPA)
- 4,5-Dichloro-2-(N-OCTYL)-4-Isothiazolin-3-One (DCOIT)
- Paints & Coatings
- Pulp & Paper
By End-Use Industry
- Food & Beverage
- Others (agriculture, electronic goods, personal care, and industrial)
- North America
- Asia pacific
- Middle East and Africa
- Latin America