The Global report on “Antimicrobial Plastics Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“Consumer awareness pertaining to the importance of antimicrobial plastics is driving the overall antimicrobial plastics market”
The antimicrobial plastics market size is estimated to grow from USD 29.6 billion in 2018 to USD 43.1 billion by 2023, at a CAGR of 7.8%. Consumer awareness about health-related issues is growing due to the increasing number of cases of nosocomial infections and epidemic outbreaks of life-threatening diseases such as H5N1 Avian influenza and H1N1 Swine flu in re times. This has resulted in increasing demand from various sectors such as healthcare and medical for antimicrobial plastics due to their high antimicrobial activity, hardness, durability, and transparency. They are also used in non-toxic plastic equipment. The growing demand for medical devices is likely to augment the market of antimicrobial plastics in the healthcare sector. However, volatile prices of raw materials and government regulations on the usage of plastics in certain applications are hindering the growth of the market.
The high performance plastics segment is expected to grow at the highest CAGR during the forecast period
The high performance plastics market is growing rapidly and is expected to continue to grow in the future owing to its increasing demand from various applications such as medical and healthcare, electronics, and automotive. The current market is backed by the high demand from APAC as well as improved regulations by regional environment associations and optimized performance of high performance plastics.
The medical and healthcare application segment is expected to hold the largest market share, in terms of volume and value, between 2018 and 2023
The medical and healthcare application leads the antimicrobial plastics market owing to consumer awareness pertaining to the use of antimicrobial plastics and incidences life-threatening diseases such as H1N1 and nosocomial infections in the recent past. Owing to the awareness, the importance of antimicrobial plastics in medical and healthcare application is expected to increase during the forecast period. Moreover, innovation in the medical and healthcare application, for instance, the development of non-toxic plastic equipment is anticipated to fuel the growth of the antimicrobial plastics market. Other application areas of antimicrobial plastics in medical and healthcare application include surgical and medical devices such as catheters, cubicle curtains, beds, and dental implants.
APAC is expected to record the highest growth rate in the antimicrobial plastics market during the forecast period
APAC is the fastest-growing antimicrobial plastics market due to the rapid industrialization coupled with the growing plastics industry. The rising disposable income of consumers along with the changing lifestyle plays a significant role in boosting the growth of the antimicrobial plastics market. APAC consists of approximately 60.0% of the global population, which is expected to increase the demand for packaging, consumer goods, and electronic products. Growing industrialization, backed by infrastructure development in the region, has offered enormous opportunities for the use of antimicrobial plastics in APAC. The increasing middle-class population in the region drives the antimicrobial plastics market. The growing demand and policies, such as emission control and use of environmentally-friendly products, have led to innovation in the plastics industry of the region, making it a plastics hub, globally. The growing population, along with industry alliances, is expected to lead to significant growth of the antimicrobial plastics market in the region.
In the process of determining and verifying the market size for several segments and sub segments identified through secondary research, extensive primary interviews were conducted.
A breakdown of the primary interviewees are as follows:
- By Company Type: Tier 1 – 45%, Tier 2 -30%, and Tier 3 – 25%
- By Designation: C-Level – 46%, Director Level – 25%, and Others – 29%
- By Region: North America – 27%, Europe – 27%,APAC- 33%,South America – 7%,and Middle East & Africa – 6%,
The key market players profiled in the report include DowDuPont (US), BASF SE (Germany), Bayer Material Science (Germany), Clariant AG (Switzerland), Lonza Group (Switzerland), PolyOne Corporation (US), Microban International Ltd. (US), Parx Plastics N.V. (Netherlands), King Plastic Corporation (US), BioCote (UK), and Sanitized AG (Switzerland).
The market study covers the antimicrobial plastics market across segments. It aims at estimating the size and the growth potential of this market, across different segments, such as type, application, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall antimicrobial plastics in various segments and sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, and opportunities.
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