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%. 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 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.
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.
