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The global market for antimicrobial additives will grow to £1.3 billion in the next five years, according to a new industry report.
MarketsandMarkets, the largest market research firm worldwide for annually published industry reports, says that the use of silver antimicrobial additives in particular will contribute to the growth of the antimicrobial additives market because of its important properties such as non-toxicity, environmental friendliness, sustainability, flammability and high thermal stability
The increase will be fueled largely by the rapid growth of the healthcare and packaging industries in the Asia-Pacific region. China, South Korea, Japan, and India are all witnessing high demand of antimicrobial additives, mainly due to the growing urbanisation, aging population and proliferating lifestyle diseases.
Silver-based antimicrobial additives will account for the major share of the market till 2021.
In 2015, silver-based antimicrobial additive accounted for the maximum share of the overall market and is projected to witness high growth rate during the forecast period.
Healthcare to be the largest industry for the antimicrobial additives market between 2016 and 2021.
Antimicrobial additives are used in healthcare, packaging, food and beverage, construction, automotive, and other industries including agriculture, electronic goods, personal care and industrial.
*Please note that Addmaster was acquired by the Polygiene Group AB in January 2021, so all news articles prior to that date will still be branded as Addmaster.