New York, NY -- (SBWIRE) -- 09/01/2020 -- The global antimicrobial additives market is predicted to attain a valuation of $3,786.8 million by 2030, demonstrating a CAGR of 7.5% during 2020—2030. The market is being mainly driven by the rapid growth of the healthcare industry, on account of the increasing incidence of chronic diseases, growing geriatric population, and improving healthcare facilities, especially in the developing nations and the surging awareness of infectious diseases across the world.
The lockdown imposed in several countries for curbing the spread of the COVID-19 infection has disrupted the supply of the raw materials such as copper, silver, and zinc, required for producing inorganic antimicrobial additives. Furthermore, this lockdown has caused the shutting down of manufacturing facilities in India, the U.S., China, and several European nations, which has further disrupted the logistics. However, despite these factors, the antimicrobial additives market continues to exhibit steady growth across the world. This is because people are nowadays rapidly buying various antimicrobial-additive-based items for lessening their chances of getting affected with the Coronavirus infection.
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Antimicrobial Additives Market Segmentation Analysis
Between the inorganic and organic categories under the type segmentation of the antimicrobial additives market, the inorganic division is predicted to demonstrate faster growth in the market in the future years. This is ascribed to the fact that the inorganic additives have several favorable chemical characteristics and are non-toxic, unlike the organic variants.
In the coming years, the healthcare category, under the end-use segmentation of the antimicrobial additives market, is predicted to dominate the market, on account of the rising prevalence of different types of hospital-acquired infections (HAI) across the globe. As per the research paper published on Antimicrobial strategies for polymeric hygienic surfaces in healthcare, 0.8 million and 4 million people suffer from HAIs each year in North America and Europe respectively. The incidence of these infections is even higher in the emerging economies, due to the poor hygiene standards in those countries. Thus, with the increasing public awareness about hygiene and HAIs, the usage of antimicrobial additives in medical devices and healthcare products would increase in the upcoming years.
Browse report overview with detailed TOC on "Antimicrobial Additives Market Research Report: By Type (Organic, Inorganic), End-Use Industry (Healthcare, Food and Beverages, Automotive, Consumer Goods, Packaging, Construction) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/antimicrobial-additives-market
During the historical period (2014–2019), North America created the largest demand in the antimicrobial additives market. The North American healthcare ecosystem has been at the receiving end of HAIs' rampage in recent years. The regular administration of individuals with antibiotics has led to increasing instances of bio-resistance, with doctors finding it increasingly tougher to combat the spread of virulent strains of diseases. This, coupled with a fair degree of purchasing power and the ability to increase the price points of regular-use products, has allowed manufacturers to integrate these additives in various products, with clean-label ingredients becoming increasingly commonplace across the packaging and healthcare industries in the region.
In the near future, the Asia-Pacific (APAC) antimicrobial additives market would exhibit rapid advancement, because of the increasing consumption of these additives, on account of the growing healthcare, food and beverages, and packaging sectors in the region. In addition to this, the rising public awareness of infectious diseases and pathogens, due to the COVID-19 outbreak, will further boost the growth of the market in the region in the years ahead.
Mergers and Acquisitions Rank High among Market Strategic Measures
The players operating in the antimicrobial additives market are actively engaging in acquisitions and mergers, mainly for gaining a foothold in the market.
For example, LyondellBasell Industries B.V. acquired A. Schulman Inc., a high-performance plastic compounds, powders, and composites selling company in April 2018 in order to expand its product range and bolster its entire value chain.
Some of the major global antimicrobial additives market players are The Dow Chemical Company, PolyOne Corporation, Momentive Performance Materials Inc., RTP Company, DuPont de Nemours Inc., AkzoNobel N.V., Clariant International Limited, BASF SE, and LyondellBasell Industries B.V.
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