The global 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%. Antimicrobials are any substance or materials infused with antimicrobial agents and additives to prevent the growth of infection and fever-causing microorganisms such as bacteria, fungi, algae, yeasts, mildew, and other parasites. The growth of microorganisms on untreated particles causes discoloration, unpleasant odors, and polymer degradation issues. The use of antimicrobial additives inhibits the growth of these microorganisms in the end products. Antimicrobial additives offer enhanced properties such as high dimensional stability, heat & chemical resistance, and chemical stability.
The inorganic antimicrobial additives segment accounted for the largest share of the global antimicrobial additives market 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.
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.
APAC is the largest market for antimicrobial additives, followed by Europe and North America. The dominance of APAC is attributed to the stringent industrial standardizations pertaining to the high growth of the end-use industries like healthcare, packaging and automotive in the emerging countries such as China, India, Japan, and South Korea. In addition to this, the antimicrobial additives market has experienced growth in construction end-use industry in terms of the number of projects such as dams, airports, and hydroelectric projects, because of which many international companies have started their manufacturing plants in this region, which has further contributed to the overall growth of the antimicrobial additives market in APAC.
