Global Antimicrobial Plastics Market is expected to reach by US $60.14 Billion, thanks to growth in the Type and Application segment. The report analyzes market dynamics by region and end-user industries.
Global Antimicrobial Plastics Market Overview:
The global Antimicrobial Plastics market was valued at US $33.58 Bn. in 2019, and it is expected to grow at US $60.14 Bn. by 2027 with a CAGR of 10.2% during the forecast period.
Antimicrobial plastic is a type of synthetic polymer that contains an active component that hinders bacteria formation. The name of these compounds is Anti-microbial additives. They primarily protect the polymer surface and maintain a sterile environment. They can protect against a wide range of microorganisms, like algae, bacteria, and fungi.
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2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated based on real numbers and outputs of the key players and major players across the globe. The past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and is analyzed especially with the impact of lockdown by region.
COVID–19 Influence on Global Antimicrobial Plastics Market:
In 2020, the COVID-19 epidemic had the worst impact on the world economy and various industries. Unlike other markets, the epidemic had a positive impact on the antimicrobial plastics market, as awareness of antimicrobial plastics' benefits in a variety of applications has surged, particularly in the medical and healthcare sectors. During the ongoing epidemic, demand for hospital beds and ventilators required the use of these plastics. As a result, the demand for antimicrobial plastics in the medical and healthcare industries is expected to grow faster than in other end-use industries.
• Increasing research and development investments are expected to create opportunities for the business under review during the forecast period.
• The medical & healthcare industry led the market during the forecast period and is expected to grow at CAGR of xx%. Growing healthcare sector investments and rising demand for medical devices and supplies are mainly responsible for its development.
Global Antimicrobial Plastics Market Dynamics:
It is practically difficult to maintain every surface sterilized, despite social distancing, facemasks, and strict hygiene practices. As a result, a self-cleaning property is required to eliminate harmful pathogens on the surface and lower the chance of spread. Antimicrobial properties, toughness, durability, and transparency make these plastics suitable for use in non-toxic plastics equipment.
Furthermore, as medical devices' need rises, so does the demand for antimicrobial plastics in the healthcare sector. The demand for these plastics in the medical and healthcare sectors is rising as the need to resist surface pathogens and awareness of antimicrobial plastics increases.
Plastic output has reduced as a result of the all-time low in oil prices caused by the COVID-19 shutdown. Furthermore, the antimicrobial plastics market's growth is hampered by manufacturers shifting attention toward advanced technologies. The cost of manufacturing rises as newer technologies are used, as new technologies demand a large amount of capital to execute.
The worldwide textile sector was valued at the US $750 billion in 2017, according to the Federation of Indian Chambers of Commerce and Industry (FICCI), accounting for nearly 2% of global GDP. India and China are two of the world's major textile markets, expected to grow at a CAGR of approximately 11% over the next decade, reaching a market size of US $1918 billion by 2027. Thus, this factor is expected to provide lucrative growth opportunities for the market.
Global Antimicrobial Plastics Market Segment Analysis:
Based on type, the Global Antimicrobial Plastics market is segmented into three types as follows, Commodity Plastic (Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Polymethyl Methacrylate, Polyethylene Terephthalate, and Polyurethane), Engineering Plastic (Acrylonitrile Butadiene Styrene, Polycarbonate, Polyamide, Polyoxymethylene, and Others), and High-Performance Plastic.
In 2019, Commodity Plastic dominated the market, with the more than 67% of the global revenue. During the forecast period, commodity plastics are expected to be the largest type segment of the global market. Growing applications in packaging, construction, automobiles, medical and healthcare, and electronics are the main drivers of the commodity plastics market. The growing population, rising per capita income, and changing lifestyles of consumers are all contributing to the growth of this segment. Thus, the need for commodity plastics is also being driven by rising construction activity as a result of the rising population.
Global Antimicrobial Plastics Market 1Based on Application, the global Antimicrobial Plastics market is segmented into six types: Packaging, Automotive, Consumer Goods, Building & Construction, Medical & Healthcare, and Others.
In 2019, the Medical & Healthcare segment dominated the market, accounting for more than 31% of the global revenue. Antimicrobial plastics are mostly used in the medical and healthcare industry. These plastics provide many advantages over traditional materials, including cleanliness, sterility, convenience, ease of use, and cheap cost. The demand for these plastics is being driven by a complex epidemiological scenario, healthcare-associated infections (HAIs), microbial contamination, nosocomial infections, and infection hazards in hospitals and dental equipment.
These plastics are used in dental practices, hospitals, and care facilities for cubicle curtains, beds, nurse call systems, handrails, floors, door handles, pull cords, and case noteholders. Medical devices, including tubing, connectors, syringes, and a wide range of materials, are made with antimicrobial plastics. As a result of the rising number of healthcare-associated infections, the use of antimicrobial plastics is expected to rise significantly over the forecast period.
Global Antimicrobial Plastics Market Regional Insights:
In 2019, Asia Pacific dominated the market, accounting for more than 39.8% of the global revenue. It is expected to continue its dominance, with a growing CAGR of 11.7% over the forecast period. Due to rapid industrialization and a growing plastics sector, Asia Pacific is the fastest-growing antimicrobial plastics market. Consumers' increased disposable income, combined with their changing lifestyles, are helping to drive the antimicrobial plastics market further.
Since the Asia Pacific accounts for around 60% of the global population, demand for packaging, consumer goods, and healthcare devices is expected to rise. APAC's growing industrialization, combined with the region's growing infrastructure, has created significant opportunities for the usage of antimicrobial plastics. The region's growing middle-class population drives this market. As a result, during the forecast period, all of these market trends are expected to drive demand for antimicrobial plastics.
Antimicrobial plastics have a significant market in Europe. During the forecast period, the market in the region is expected to grow at a slower rate than in other regions. The region's market is supported by technological advancements. The packaging industry's increased demand for PE (Polyethylene) and PP (Polypropylene) has been driving the overall market in the region. HDPE (High-Density Polyethylene) is still one of Europe's most popular PE (Polyethylene) grades. In Europe, the packaging, automotive, and building and construction sectors drive the growth of the commodity plastics market.
Global Antimicrobial Plastics Market 2
• In May 2019, Panaria Group (Italy) and Microban International have established a collaboration to add antimicrobial protection in their products.
The objective of the report is to present a comprehensive analysis of the global Antimicrobial Plastics market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Antimicrobial Plastics market dynamics, structure by analyzing the market segments and project the global Antimicrobial Plastics market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Antimicrobial Plastics market make the report investor’s guide.
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Global Antimicrobial Plastics Market 3
Global Antimicrobial Plastics Market, by Region
• North America
• Asia Pacific
• The Middle East and Africa
• South America
Global Antimicrobial Plastics Market Key Players
• Addmaster Limited
• Agion Technologies Inc.
• Akcros Chemical
• American Polyfilm Inc.
• Americhem Inc.
• BASF SE
• Parx Plastics N.V.
• Ray Products Company Inc.
• Covestro AG
• RTP Company
• Compounding Solutions LLC
• Du Pont Nemours Inc.
• Lonza Group
• Avient Corporation
• Microban International
• King Plastic Corporation
• Milliken Chemical
• Sanitized AG
• PolyOne Corporation
• Teknor Apex Company
• Porex Technologies
• Plastics Color Corporation
• Polychem Alloy Inc.
• Highland Plastic Inc.
• Doeflex Vitapol
• Biosafe Inc.
Frequently Asked Questions:
1. What is the forecast period considered for the Antimicrobial Plastics market report?
Ans. The forecast period for the Antimicrobial Plastics market is 2021-2027.
2. Which key factors are hindering the growth of the Antimicrobial Plastics market?
Ans. The volatile cost of raw materials and shifting focus towards the use of advanced technology are the key factors expected to hinder the growth of the Antimicrobial Plastics market during the forecast period.
3. What is the compound annual growth rate (CAGR) of the Antimicrobial Plastics market for the next 6 years?
Ans. The global Antimicrobial Plastics market is expected to grow at a CAGR of 10.2% during the forecast period (2021-2027).
4. What are the key factors driving the growth of the Antimicrobial Plastics market?
Ans. The outbreak of the COVID-19 epidemic and rising demand of these plastics from the medical and healthcare segment are the key factors expected to drive the growth of the market during the forecast period.
5. Which are the worldwide major key players covered for the Antimicrobial Plastics market report?
Ans. Addmaster Limited, Agion Technologies Inc., Akcros Chemical, American Polyfilm Inc., Americhem Inc., BASF SE, Parx Plastics N.V., Ray Products Company Inc., Covestro AG, Steritouch, RTP Company, Compounding Solutions LLC, Du Pont Nemours Inc., Lonza Group, Avient Corporation, Microban International, King Plastic Corporation, BioCote, Milliken Chemical, Sanitized AG, PolyOne Corporation, Teknor Apex Company, Porex Technologies, Plastics Color Corporation, Polychem Alloy Inc., Highland Plastic Inc., Doeflex Vitapol, Biosafe Inc., and, Others.
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