May 26, 2024
Antimicrobial Additives Market

Antimicrobial Additives Market Propelled By Growing Demand From Healthcare Industry

The global antimicrobial additives market is growing steadily as antimicrobial additives help preserve the quality and integrity of various materials by preventing microbial deterioration and surface fouling. Antimicrobial additives are used in a wide range of applications including healthcare, packaging, food and beverage, construction and others. In the healthcare industry, antimicrobial additives are used for medical devices, wound care products, coating for hospitals and other medical equipment & storage areas. The growing demand for products like antimicrobial-coated surfaces, wound dressings and medical devices from expanding healthcare sector globally is driving the antimicrobial additives market.

The global antimicrobial additives market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

Growing demand from the healthcare industry for preventing hospital-acquired infections is one of the key trends fueling growth of antimicrobial additives market. In healthcare settings, antimicrobial surfaces help limit the spread of pathogens and reduce risk of hospital acquired infections. With rising healthcare expenditure and growing prevalence of diseases globally, the demand for advanced medical products and facilities is increasing. This is augmenting the consumption of antimicrobial additives in various healthcare applications like wound care products, medical devices and coatings for hospitals, thereby driving the market growth.

SWOT Analysis

Strength: Antimicrobial additives help extend the shelf life of products and prevent microbial degradation and spoilage of materials. They protect consumers from harmful microbes.
Weakness: Some antimicrobial agents pose risks to human health and the environment if not used properly. Strict regulations and compliance requirements limit their applications.
Opportunity: Growing awareness about hygiene and rising health consciousness is driving demand from various end-use industries like food and healthcare. The COVID-19 pandemic has further increased focus on safety and disinfection.
Threats: Availability of alternative preservation methods and public concerns over long-term effects of chemicals pose threats. Strict environmental norms in some countries also limit the use of certain antimicrobial agents.

Key Takeaways

The global Antimicrobial Additives Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market was valued at US$ 3.47 Bn in 2024 and is projected to reach over US$ 25 Bn by 2031, expanding at a robust CAGR of 25%  during the same period.

Regional analysis: Asia Pacific region dominates the global market and is expected to maintain its lead through 2031. Countries like China, India, Indonesia, and Vietnam account for a major share in the region due to rising health awareness and rapidly expanding food processing and healthcare industries. North America and Europe are other prominent markets driven by stringent food safety regulations and increased usage of antimicrobials in various industries to curb the spread of infectious diseases.

Key players operating in the antimicrobial additives market are NetApp Inc., Nutanix Inc., Dell EMC (Dell Technologies Inc.), Hewlett Packard Enterprise Co., Juniper Networks Inc., Western Digital Corp., Lenovo Group Limited, Liqid Inc., Fungible Inc. and TidalScale Inc. These major companies are focusing on new product development and acquisition strategies to consolidate their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it