Rise in demand for antimicrobial medical textiles from the healthcare sector and surge in awareness regarding health and hygiene drive the growth .
PORTLAND, OREGON, UNITED STATES, November 26, 2020 /EINPresswire.com/ — Allied Market Research published a report, titled, "Antimicrobial Textiles Market by Fabric (Polyester, Polyamide, Cotton, and Others), Active Agent (Metal &Metallic Salts, Synthetic Organic Compounds, and Bio-Based Agents), and Application (Medical Textiles, Home Textiles, Apparels, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027." According to the report, the global antimicrobial textiles industry generated $10.0 billion in 2019, and is estimated to reach $18.2 billion by 2027, registering a CAGR of 7.4% from 2020 to 2027.
Drivers, restraints, and opportunities
Rise in demand for antimicrobial medical textiles from the healthcare sector and surge in awareness regarding health and hygiene drive the growth of the global antimicrobial textiles market. However, environmental and health concerns regarding usage of antimicrobial agents along with variations in raw material prices hinder the market growth. On the other hand, rise of the healthcare sector in emerging economies is expected to create new opportunities in the coming years.
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Demand for antimicrobial textiles increased during the pandemic as the medical staff and general public began adopting the best hygiene practices.
Manufacturing activities and supply chain have been affected due to lockdown enforced by governments in the wake of the Covid-19 pandemic. This created a supply-demand gap.
There has been increase in R&D activities to develop antimicrobial textiles to prevent infection from coronavirus. Scientists have been developing textiles that can kill nearly 99.99% of virus after a few minutes of exposure.
The cotton segment to continue its lead position throughout the forecast period
Based on fabric, the cotton segment accounted for the largest market share, contributing to nearly half of the the global antimicrobial textiles market in 2019, and will continue its lead position throughout the forecast period. This is due to its diverse application ranging from medical textiles to antimicrobial apparel. However, the polyester segment is expected to register the highest CAGR of 7.8% from 2020 to 2027. This is attributed to increase in disposable income and awareness regarding antimicrobial home textiles from developing countries.
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The medical textiles segment to maintain its dominant share by 2027
Based on application, the medical textiles segment held the highest share in 2019, contributing to more than two-fifths of the global antimicrobial textiles market, and is estimated to maintain its dominant share by 2027. Moreover, this segment is projected to witness the highest CAGR of 7.8% during the forecast period. This is attributed to surge of the healthcare industry in developing regions such as Asia-Pacific and LAMEA. The report also analyzes segments including apparels, home textiles, and others.
North America to lead in terms of revenue by 2027
Based on region, North America contributed to the highest share in 2019, accounting for more than one-third of the total share, and will continue to lead in terms of revenue by 2027. This is attributed to established consumer base and increase in awareness regarding health and hygiene. However, the global antimicrobial textiles market across Asia-Pacific is expected to manifest the highest CAGR of 8.0% from 2020 to 2027, owing to developing healthcare sector, presence of major textile manufacturers, and increase in expenditure in military fabrics.
Leading Market Players
Aditya Birla Group (ABG)
Fuji Chemical Industries, Ltd.
Indorama Ventures Public Company Limited., (IVL)
Kolon Industries, Inc.
Response Fabrics (India) Pvt. Ltd. (Response Fabrics)
Sarex Textile Chemicals
Toyobo Co., Ltd. (Toyobo)
Vardhman Holdings Limited (Vardhman Holdings)
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