Antimicrobial additives help to inhibit the growth of microorganisms like bacteria, fungi, algae or yeast, when added in small concentrations to various materials like plastics, paints, coatings, etc. They are widely used in medical devices, wound care products, catheters and other healthcare associated products to prevent hospital acquired infections.
Market key trends:
Growing demand for smart healthcare solutions is one of the key trends driving the growth of the antimicrobial additives market. With rising healthcare costs and increasing incidence of hospital acquired infections, there is a growing need for developing smart materials that can actively prevent microbial growth. Many companies are developing new polymer formulations integrated with silver nanoparticles, quaternary ammonium molecules and other antimicrobial agents to enable long lasting protection. These smart solutions are finding increasing applications in healthcare, hygiene and consumer goods segments.
Segment Analysis
The global antimicrobial additives market is segmented by application, type, and region. Based on application, the paints and coatings segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the increasing demand for paints and coatings from construction and automotive industries, where microbial contamination needs to be prevented.
Key Takeaways
The Global Antimicrobial Additives Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period 2023 to 2030, due to increasing demand from industries such as construction, automotive, consumer goods, and medical to prevent microbial contamination on surfaces.
Regional analysis
Regionally, Asia Pacific dominated the global antimicrobial additives market with a share of over 35% in 2022 and is expected to grow at the fastest CAGR during the forecast period. This is owing to increasing construction activities and growing automotive industry in China and India. Europe and North America are also expected to register significant growth owing to strict regulations regarding hygiene and cleanliness.
Key players
Key players operating in the antimicrobial additives market are AkzoNobel N.V., BASF SE, The Dow Chemical Company, Sanitized AG, SteriTouch Ltd., BioCote Ltd., Life Material Technologies Ltd., Momentive Performance Material Inc., Clariant Chemicals India Ltd., and Nanobiomatters. The market remains moderately consolidated with top players accounting for around 45-50% of the global production.
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https://healthcarelatesteditionnews.blogspot.com/2023/12/smart-healthcare-solutions-are-fastest.html
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