According to the ResearchAndMarket.com report “Antimicrobial Textiles—Global Market Trajectory & Analytics” the antimicrobial textiles market worldwide will grow by a projected US $3 Billion, driven by a revised compounded annual growth rate (CAGR) of 4.4%.
Synthetic Organic Compounds, one of the segments analyzed and sized in this study, is forecast to grow at over 4% and reach a market size of US $6.5 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Synthetic Organic Compounds market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 5.4% CAGR. Within Europe, Germany will add over US $144.7 Million to the region’s size over the next 7 to 8 years. In Japan, the Synthetic Organic Compounds segment will reach a market size of US $488.4 Million by the close of the analysis period.
Significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Antimicrobial Textiles market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 4.9% over the next couple of years and add approximately US $543.7 Million in terms of addressable market opportunity.