Why is Demand for Antimicrobial Additives Skyrocketing in Asia-Pacific (APAC)?

The growing incidence of chronic diseases and increasing geriatric population are tremendously pushing up the requirement for pharmaceutical products, which is, in turn, driving the sales of antimicrobial additives around the world. Furthermore, many private and public organizations are making huge investments in the development of antimicrobial additives so that these products can be available for mass consumption throughout the world. Due to these factors, the valuation of the global antimicrobial additives market is predicted to rise from $2,010.2 million to $3,786.8 million from 2019 to 2030, with the market advancing at a CAGR of 7.5% between 2020 and 2030.

There are two types of antimicrobial additives available in the market namely inorganic and organic. Between the two, the usage of the inorganic antimicrobial additives was higher in the past years. This is credited to the various favorable chemical and non-toxic traits of the silver-, copper-, and zinc-based antimicrobial formulations. In addition to this, the high utilization of these materials in food and non-food consumer items, packaging materials, and several other products contributed toward the high sales of these materials during the last few years.

 

 

Get a sample copy of this report:
https://www.psmarketresearch.com/market-analysis/antimicrobial-additives-market/report-sample

Globally, the antimicrobial additives market is predicted to demonstrate lucrative growth in the Asia-Pacific (APAC) region in the upcoming years. This is attributed to the rapid macroeconomic growth, rising spending power of people and swift advancement of the healthcare industry in the region. In addition to this, the expansion of the medical devices, consumer goods, automotive, and packaging industries in the APAC nations will further boost the requirement for antimicrobial additives in the region in the years to come. 

The moderately fragmented antimicrobial additives market is characterized by the presence of large chemical companies and new startups aiming to gain acclaim in niche application areas and certain geographies. Some of the large players operating in the antimicrobial additives industry are AkzoNobel N.V., Milliken Chemical Company, DuPont de Nemours Inc., and BASF SE. Other players in the antimicrobial additives market are Momentive Performance Materials Inc., RTP Company, Microban International Ltd., BioCote Limited, Sanitized AG, and Sciessent AG.