LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global antimicrobial additives market is expected to reach USD 5,099.4 million by 2021, growing at a CAGR of more than 7%.
This research report titled ‘Global Antimicrobial Additives Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global antimicrobial additives market is witnessing a substantial growth and is likely to sustain the same during the forecast period. Antimicrobial additives provide protection from a wide range of microorganisms such as fungi, bacteria, algae, and molds. These additives enhance the quality of a material by preventing the growth of microbes. It helps in augmenting the performance of the product and its durability.
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Technavio’s chemicals and materials research analysts categorize the global antimicrobial additives market into the following segments by the application. They are:
- Paints and coatings
- Pulp and paper
The top three application segments for the global antimicrobial additives market are discussed below:
The global antimicrobial additives market in the plastics segment was valued at USD 1,326.3 million in 2016. The degradation and discoloration of plastics and polymers over a period are the key challenges for the plastic manufacturing industry. Various microorganisms like yeasts, mold fungi, mildew fungi, bacteria, and algae are the major reasons for polymer degradation.
According to Ajay Adikari, a lead additives, adhesives, and sealants research analyst from Technavio, “Antimicrobial additives are used to protect plastics by inhibiting and controlling the growth of microbes. These additives are incorporated into polymer compounds during molding or compounding. They provide a biocidal effect and prevent microbial growth.”
Paints and coatings
Antimicrobial additives are commonly used in paints and coatings for effectively maintaining surface texture and inhibiting the growth of microorganisms. They are adopted by several end-users across industries such as real estate, automotive, shipbuilding, machine tool, heavy equipment, furniture, and consumer durables.
“The growth of the market for antimicrobial additives in the developed countries of North America, Western Europe, and APAC is spurred by the replacement of traditional coatings with new innovative coatings with antimicrobial properties. The increased awareness about health benefits of using antimicrobial additives in paints and coatings is also a driving factor for antimicrobial additives in these regions,” adds Ajay.
Pulp and paper
Pulp and paper are highly susceptible to microbial contamination. Antimicrobial additives are used in pulp and paper to maintain hygiene and cleanliness. Paper is a widely-known source of cross contamination in the form of currency notes. For instance, according to a study at the New York University, a dollar bill contains more than 3,000 kinds of bacteria, out of which, many are linked to the food poisoning, gastric ulcers, staphylococcus infections, acne, and pneumonia.
The rising consumption of antimicrobial paper in packaging applications and rising demand for packaged food products are expected to propel the growth of the global antimicrobial additives market in the pulp and paper segment. The demand for antimicrobial additives is expected to increase with the growth in the packaged food industry.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Dow Chemical
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