Future of Antimicrobial Additives Industry And Post Covid-19 Pandemic Impact, Says MarketsandMarkets™
The antimicrobial additives market size is projected to reach USD 5.5 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 6.6%. Growing demand for end-use industry is expected to support the growth of the antimicrobial additives market. However, huge investment in R&D and strict rules and technological advancement is restraining the growth of the market. On the other hand, innovation in product development has created opportunities for manufacturers.
The inorganic antimicrobial additives segment accounted for the largest share of the global antimicrobial additives industry in 2020. The dominance of the inorganic antimicrobial additives segment is projected to continue during the forecast period owing to its advanced properties. The increasing demand from the various end-use industries such as healthcare, packaging, automotive, and construction is fueling the growth of inorganic antimicrobial additives. This segment is also projected to witness the highest growth between 2021 and 2026 in terms of value.
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Plastic is the largest application of antimicrobial additives in terms of value, in the global market in 2020. Plastic finds major applications in industries such as healthcare, packaging, food & beverage, and others. The growth in the demand for plastics is primarily driven by the rising demand from its end-use industries.
The market growth of antimicrobial additives in plastic application is mainly driven by growing consumer awareness about health-related infections with the ongoing COVID-19 crisis and growing population in the Asia-Pacific region. With rising economies such as India, South Korea, Indonesia, and others, the demand for antimicrobial additives in the Asia-Pacific region is expected to increase significantly.
BASF SE (Germany), DuPont De Nemours (US), Microban International (US), Sanitized AG (Switzerland), LyondellBasell (Netherlands), Avient Corporation (US), Biocote (UK) and Milliken Chemical (US) are the major players in this market.
DuPont operates under five different segments, namely, Nutrition & biosciences, safety & construction, transportation & industrial, electronics & imaging, and non-core. The company offers antimicrobial solutions through its nutrition & biosciences segment. The company has a dominance in The US and other European regions, and they are gradually increasing their presence in South America.
- On February 2021, DuPont completed the merger of Nutrition & Bioscience business which is a DuPont subsidiary with a subsidiary of International Flavors & Fragrances Inc. ("IFF").
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BASF SE is a diversified chemical solution provider and manufacturer of a broad range of chemical products with high-end industrial applications. The company operates through seven business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions. and others. BASF offers antimicrobial additives through its industrial solutions segment. It primarily operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East countries.
- In January 2020, BASF closed its acquisition of the polyamide business from Solvay and broadened the capabilities of engineering plastics for innovative solutions.
- In November 2020, BASF SE constructed a new plant for additives business in Pontecchio Marconi Italy. This expansion will help to strengthen the company’s position. With this expansion they will be able to deliver wider range of solutions increase the revenue.
Microban International Ltd. is a wholly owned subsidiary of W.M. Barr & Company, Inc. It manufactures antimicrobial additive solutions for the protection of products offered by the consumer goods, commercial, textiles, building, and healthcare industries in the US and internationally. It has operations in North America, Europe, and Asia.
- In June 2020, A partnership was made between Picnic Plast Industrial, Ltd., the manufacturer of Nanny baby products and Microban International Ltd., to produce antimicrobial products.
- In August 2019, The company inaugurated its new office in Staffordshire, UK, marking its second office in Europe.
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