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Antimicrobial Materials Sector Surges Amid Hygiene and Health Revolution
This shift has spurred materials manufacturers to innovate, resulting in the development of antimicrobial materials - a breakthrough capturing customer interest and generating significant growth opportunities.
Frost & Sullivan forecasts a robust CAGR of 14.7% for the antimicrobial materials industry from 2023 to 2030, projecting the global total addressable market to approach $61 billion by the end of the period.
Customer preferences are rapidly evolving towards materials that prevent spoilage and decay while ensuring human safety. Technological advancements are making these materials more effective, accessible, and affordable, facilitating their application across various industries:
The market is highly competitive, with players like Avient, Sarex, Ultra Fresh, and NIChem focusing on specific segments. This decade will see intensified competition and significant innovations poised to disrupt the industry.
Frost & Sullivan anticipates close collaboration between end-user industries and additive companies to tackle challenges and deliver optimal solutions. "Cross-industry collaboration is crucial as each market has unique dynamics and regulatory requirements. Collaborative efforts can streamline R&D, manufacturing, and distribution processes, resulting in innovative antimicrobial solutions with broad applications," highlights Dr. Brian Balmer , Growth Expert at Frost & Sullivan.
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Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com
+44 (0)20 331 01228
View original content:https://www.prnewswire.co.uk/news-releases/antimicrobial-materials-sector-surges-amid-hygiene-and-health-revolution-302215443.html