Increasing need for antimicrobial additives to prevent bacteria development on the surface of plastic and medical equipment is primarily driving antimicrobial additives market expansion. Antimicrobial additive product technological advancements for avoiding the transmission of illness are also expected to fuel the antimicrobial additives market expansion throughout the forecast period. Government laws and regulations on the use of antimicrobial additions are projected to stymie the expansion of the antimicrobial additives industry. Antimicrobial additions for "inanimate" (non-living) surfaces are regulated by Environmental Protection Agency. The Federal Insecticide, Fungicide, and Rodenticide Act, or FIFRA, defines the EPA standards controlling the use of antimicrobial compounds.
According to Coherent Market Insights, Global Antimicrobial Additives Market was valued at US$ 2.65 Billion in 2021 in terms of revenue, exhibiting a CAGR of 6.59% during the forecast period (2022 to 2030).
Key Competitors in the Antimicrobial Additives Industry:
1. AkzoNobel N.V.
AkzoNobel operates as a paints and coatings company worldwide. It offers decorative paints, including paints, lacquers, and varnishes; a range of mixing machines and color concepts for the building and renovation industry; and specialty coatings for metal, wood, and other building materials primarily under the Dulux, Coral, Levis, and Flexa brands. AkzoNobel also provides performance coatings to protect and enhance ships, cars, aircraft, yachts, architectural components, consumer goods, and oil and gas facilities. Akzo that began operation in 1646 became AkzoNobel in 1994, with its headquarters in Amsterdam in the Netherlands.
2. BASF SE
BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF SE was founded in 1865 and is headquartered in Ludwigshafen am Rhein, Germany.
3. The Dow Chemical Company
BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF SE was founded in 1865 and is headquartered in Ludwigshafen am Rhein, Germany.
4. BioCote Ltd.
Developer of antimicrobial technology designed to provide the ultimate surface protection against microbes such as bacteria and mould. The company's antimicrobial technology creates distinctive, quality products to reduce the negative effects of bacteria, mould and viruses on materials, delivering value-added, intrinsic product differentiation, enabling chemists to get access to integrate antimicrobial technology into a broad range of product applications. The company was founded in 1994, headquartered in England, U.K
5. Life Material Technologies Ltd.
Manufacturer of bio-based antimicrobial additives and treatments intended to brands and manufacturers. The companies offer antimicrobial technology solutions to tackle the growth of unwanted micro-organisms on consumer, commercial and industrial product surfaces keeping products clean, extending product useful life and inhibit or kill bacteria, fungi, algae, and other micro-organisms that come in contact with the surfaces of the material serving the manufacturers of plastics, coatings, ceramics, textile fibers, and paper, thereby helping clients with products that enhance the cleanliness. The company is headqaurterd in Hong Kong.
6. Clariant Chemicals India Ltd.
Heubach Colorants India Ltd formerly Clariant Chemicals (India) Ltd is engaged in manufacturing and selling of Specialty Chemicals. The company is systematized into two primary business segments namely Plastics and Coatings segment which includes pigments, pigment preparations, additives, and masterbatches.Specialty Chemicals segment which comprises of dyestuff, synthetic resins, binder materials, functional effects and coating, auxiliaries and chemicals. The company was founded in 1956, headquartered in Navi Mumbai, Maharashtra.
7. Nanobiomatters
NanoBioMatters (NBM) was founded in 2004 with the objective to combine know-how from the fields of organo-clay technology, plastics reinforcement and biobased materials. The company is headquartered in Spain. NanoBioMatters is a material science company specialized in engineered clay-based additives.
*Definition- An antimicrobial addition is a substance that inhibits and prevents the growth of germs like mould, fungus, and bacteria. They are made with active components like zinc and silver ion.
