The report "Antimicrobial Additives Market by Type (Inorganic (Silver, Copper, Zinc), Organic (OBPA, DCOIT)), Application (Plastic, Paints & Coatings, Pulp & Paper), End-Use Industry (Healthcare, Packaging, Food & Beverage, Construction) - Global Forecast to 2021", The global market size of antimicrobial additives is projected to reach USD 3.95 Billion by 2021, registering a CAGR of 6.7% between 2016 and 2021.
The market is driven by the rapid growth of the healthcare and packaging industries in the Asia-Pacific region. In the recent times, China, South Korea, Japan, and India are witnessing high demand of antimicrobial additives, mainly due to the growing urbanization, aging population, and proliferating lifestyle diseases. This is fueling the growth of the antimicrobial additives market in this region. Properties such as non-toxicity, environmental friendliness, sustainability, flammability, and high thermal stability of silver antimicrobial additives contribute to the growth of the antimicrobial additives market.
The antimicrobial additives market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market, followed by North America, and is projected to be the fastest-growing market during the forecast period. This dominance by the Asia-Pacific region is mainly due to the rapid economic growth, particularly in the healthcare and packaging industries in the region. Also, rapid industrialization in Asia-Pacific, coupled with improved living standard, is driving the market for antimicrobial additives.
Currently, the global antimicrobial additives market is dominated by various market players such as BASF SE (Germany), The Dow Chemical Company (U.S.), Clariant AG (Switzerland), A. Schulman, Inc. (U.S.), Polyone Corporation (U.S.), Sanitized AG (Switzerland), Microban International (U.S.), Biocote Limited (U.K.), King Plastic Corporation (U.S.), and Steritouch Ltd. (U.K.).
