Latin America Anti Microbial Additives Market was worth USD 0.38 billion in 2021 and estimated to be growing at a CAGR of 6.03%, to reach USD 0.52 billion by 2026.
The market is showing great potential in the mentioned forecasting period. Antimicrobial additives control the microbes via various methods and are extremely diverse. When they are used in the manufacturing of products they create materials and surfaces unfriendly to microbes such as mould and bacteria. The properties of silver are non-toxicity, environmental friendliness and high thermal stability which improve the Latin America anti-microbial additives market.
The Antimicrobial additives are chemical ingredients that prevent fungal, bacterial, and algal growth in materials which are wide open to high levels of ultraviolet radiations, unsanitary conditions and moisture. These additives are largely used in applications such as plastics, papers, rubber, paints & coatings, textiles, inks and fabric care to constrain the growth of unwanted microorganisms and increase the longevity of the substrate.
Drivers and Restraints of Latin America Anti Microbial Additives Market:
The market is driven by the rapid growth of the healthcare and packaging industries in the Latin America region. In the recent times, Brazil, Mexico and Argentina are observing high demand of antimicrobial additives, mainly due to the aging population, growing urbanization and increasing lifestyle diseases. This is powering the growth of the antimicrobial additives market in this region. Properties like non-toxicity, environmental friendliness, high thermal stability, sustainability and flammability of silver antimicrobial additives contribute to the growth of the antimicrobial additives market.
The major factor restraining the growth of the antimicrobial additives market is the high cost of raw materials and stringent regulations. The basic raw materials used in the manufacturing of antimicrobial additives products are silver, zinc, and copper. The high price of silver antimicrobials restricts their use in various products, particularly in the developing regions of South America. These issues restrains the growth of the market. The Latin America market for Anti-microbial additives is broadly categorized into Inorganic Anti-Microbial Additives Market (Silver, Copper, Zinc), Organic Anti-Microbial Additives Market (OBPA, DCOIT).
Latin America Anti Microbial Additives Market – By Application:
Latin America Anti Microbial Additives Market – By End-User:
Silver-based antimicrobial additive accounted for the highest revenue of the overall market and is projected to witness high growth rate during the forecast period.
On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Mexico, Argentina and Chile. The anti-microbial additives market was dominated by Brazil, with the overall market share of over 29%. Brazil was followed by Mexico and Argentina. Mexico is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the market, by their products and services include BASF SE, Biocote Limited, Sanitized AG, A. Schulman, Inc., Polyone Corporation, Clariant AG , Microban International, The Dow Chemical Company, King Plastic Corporation, and Steritouch Ltd.
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