The Global Antimicrobial Plastics Market was valued at USD 26.10 Bn in 2020 and is expected to reach USD 45.52 Bn by 2027, with a growing CAGR of 8.3% during the forecast period.
Antimicrobial plastics can be defined as a synthetic polymer material that contains an integrated active ingredient. This ingredient makes it effective against microbial growth such as viruses, molds, bacteria, and algae, and which can contaminate the plastic. Along with this, antimicrobial plastics are more hygienic to use, long-lasting protects stain, bad odour and helps in preventing biofilm formation. These benefits offered by antimicrobial plastics are immensely helping in boosting the antimicrobial market demand.
The antimicrobial plastics market is accounted to boost at a significant pace in the forecast period. The market is majorly experiencing traction owing to the increasing usage of antimicrobial plastics in various end-use industries such as healthcare, automotive & transportation, packaging, consumer goods among others. Antimicrobial plastics provide chemical & heat resistance, chemical stability, high dimensional stability, and improved mechanical properties. Due to these properties, the market has been experiencing increasing demand from these end-use industries. In addition, rapid urbanization along with an increase in consumer spending power is also expected to positively impact the growth of the antimicrobial plastics market demand.
Further, the increasing consumer awareness about the importance of maintaining personal hygiene due to rising instances of pandemic and epidemic outbreaks such as COVID- 19, H1N1 Swine flu, and H5N1 Avian influenza in recent times has increased the demand for antimicrobial plastic in consumer goods in recent years. Moreover, antimicrobial plastics are now rapidly being used as a substitute for conventional material in the healthcare sector for manufacturing medical instruments such as aesthetic machines and ventilators due to their pathogens inhibiting properties, thereby positively impacting the product demand.
By Product Outlook
By End-Use Industry
By Region
The unique insights provided by this report also include the following:
Based on product outlook, the commodity plastic segment held the largest share in the antimicrobial plastics market due to the increasing application of commodity plastic in various end-use industries
Based on product outlook, the antimicrobial market is segmented as engineering plastics, commodity plastics, and high-performance plastics. Among these, commodity plastic held the largest share in the antimicrobial plastics industry. This share is majorly attributed to the increasing application of commodity plastic in consumer products, packaging, food and beverage, and healthcare industries. The product growth in these end-use industries is majorly attributed to the changing lifestyle of consumers across the globe along with shifting consumer focus on maintaining personal hygiene. Commodity plastics such as polypropylene and polyethylene are the major contributors in driving the market demand due to their improved biocompatibility, moisture resistance, high impact strength, chemical resistance, and wide range of applications in various end-use industries. Further, the blooming building & construction industry owing to the rising population is also expected to drive the demand for the commodity plastics segment.
Based on end-use industry, the healthcare industry is projected to account for the largest antimicrobial market share during the forecast period owing to rising awareness among healthcare workers regarding using antimicrobial plastics in the medical devices
Based on the end-use industry the antimicrobial plastics market can be fragmented into building & construction, healthcare, automotive & transportation, packaging, textile, food & beverage, consumer goods, and others. The healthcare industry is projected to account for the largest market share during the forecast period. This large share is primarily due to the rising awareness among healthcare workers regarding using antimicrobial plastics in medical devices due to the fear of infection. The rising demand for advanced healthcare services due to rising incidences of cardiovascular diseases and the increasing aging population across the world is also expected to drive the need for medical devices. The data released by American Heart Association Research in 2018 shows that approximately 2,300 Americans die each day due to cardiovascular diseases, which is an average of one death every 38 seconds. This rising rate of cardiovascular diseases, in turn, is projected to boost the antimicrobial plastic market demand in healthcare applications.
Based on regions, the Asia-Pacific region has dominated the antimicrobial market across the globe owing to rapidly expanding demand for antimicrobial plastic from the healthcare and packaging sector
Based on region, the antimicrobial plastics market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the Asia-Pacific region has dominated the antimicrobial market across the globe. The growth in this region is due to the rapidly expanding demand for antimicrobial plastic from the healthcare and packaging sector, especially in countries such as China, Japan, and India. Moreover, the increasing instances of chronic diseases along with the rising geriatric population in the region is further expected to increase the demand for antimicrobial plastics. Furthermore, the increasing healthcare expenditure, followed by the expansion of the insurance coverage in countries such as China, Japan, and India are projected to be the prominent factors driving government investment in healthcare infrastructure.
The report also provides in-depth analysis of antimicrobial plastics market dynamics such as drivers, restraints, opportunities and challenges
Drivers
Restraints
Opportunities
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report. .
The Covid-19 pandemic has majorly affected the antimicrobial plastics market. The pandemic in nations such as U.S, India, China, France, Italy, among others is expected to hamper the growth of the antimicrobial plastics demand majorly in construction, electrical and electronics, consumer goods, and automotive applications. The pandemic has slowed down or halted the manufacturing operations and put many restrictions on supply and transport, which have negatively impacted the demand for antimicrobial plastics. However, the pandemic has resulted in immensely increasing the demand for medical components such as gloves, masks ventilators, and testing equipment. This, in turn, has provided growth opportunities in the antimicrobial plastics industry. According to WHO, as of 28 September 2021, there have been 232,075,351 confirmed cases of COVID-19, including 4,752,988 deaths across the globe. The increasing instances of positive cases in countries, such as Italy, U.S., Spain, Germany, France, the U.K., and Iran, are triggering the demand for medical components, thereby has created high demand for the antimicrobial plastic industry.
The report also provides in-depth analysis of key trends in antimicrobial plastics market
The report also provides in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the antimicrobial plastics market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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