Market Overview –
It is expected that by 2027, the global antimicrobial plastics market would be worth $42.92 billion. As of 2020, the estimated value of the global antimicrobial plastics market was $25.4 billion. This figure is expected to increase at a CAGR of 7.8% or higher from 2021-2027. Antimicrobial plastics are a type of synthetic polymer material with an incorporated active component that prevents the growth of microorganisms.
Increasing demand from end-use industries, such as the food & beverage, medical, packaging, etc., and rising consumer awareness of the benefits of using antimicrobial plastics are driving the global market. Antimicrobial plastics, which have great moisture resistance, have the added benefit of inhibiting the development of harmful microorganisms including algae, fungi, and bacteria. For instance, the covid-19 epidemic has boosted the growth of the worldwide antimicrobial plastics market as a result of the increased demand for antimicrobial plastics in the healthcare sector due to the increased need for various medical equipment like beds, ventilators, gloves, masks, and others.
Growth in the textile sector will also create chances for the international Antimicrobial Plastics market. So, for instance, Statista reports that the worldwide revenue from medical technology has been on the rise, from $433.7 billion in 2018 to $510.0 billion in 2021 and an anticipated $594.5 billion in 2024.
Therefore, future growth in the Antimicrobial Plastics business will be spurred by the need for antimicrobials in the production of a variety of medical devices brought about by the expansion of medical technology. However, uncertainty in the cost of raw materials and strict government controls on the use of plastics in specific applications could slow the market from expanding as predicted between 2021 and 2027.
Impact of COVID-19 –
In 2020, when COVID-19 first appear, it had far-reaching effects on many sectors of the economy. Antimicrobial polymers have benefiter from the epidemic, in contrast to other industries. The medical and healthcare industries, in particular, have raise their level of awareness of the use of antimicrobial polymers in a variety of settings. Hospital beds and ventilators, both of which are made of plastic, were in great demand during the pandemic.
Market Dynamics –
Consumers’ increasing concern about their own health in the wake of HAIs and other potentially fatal diseases including H1N1 Swine Flu, cancer, H5N1 Avian Flu, and skin problems is the primary reason propelling the antimicrobial plastic market forward. Antimicrobial plastics are predicted to rise due to variables such as their biodegradable nature, low cost, and rising plastic consumption. The global market for antimicrobial plastic is anticipated to expand on account of rising demand from end-use industries such as home furnishings, textiles, packaging, and healthcare.
Increasing use of antimicrobial chemicals in food packaging, plastic bottles, and medical equipment is a recent development in the worldwide antimicrobial plastic industry. Microban International, Ltd. released a new line of antibacterial and odor-blocking products for use in refrigerator and dishwasher gaskets in February 2017. And in June of 2015, Biocote Limited and Gtechniq introduced C6 Matte Dash AB to assist guard against damage to dashboard and door card materials such plastics, leather, and rubberized finishes. Furthermore, the increasing demand for recycling single-use medical supplies has opened the door for research into antimicrobial technologies.
However, the price volatility of key raw materials is a major factor that may restrain expansion of the worldwide antimicrobial plastic market over the forecast period.
Market Scope –
This report, title “Global Antimicrobial Plastic Market Analysis to 2028,” is an in-depth look at the chemicals and materials sector, with a focus on market trends worldwide. The purpose of this study is to give readers a synopsis of the Antimicrobial plastics market by providing a broad overview alongside granular segmentation data by function, layer, end use, and location. The research discusses important trends and opportunities in the industry and offers vital information on the market status of the leading competitors in the market for antimicrobial plastic.
Recent Developments –
Sanitize Puretec was introduce by Sanitize AG in 2021. Fabrics can be protects from the growth of odor-causing bacteria with this metal- and particle-free antimicrobial solution.
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The International Antimicrobial Council-recommend standard ASTM E3 162-18 has been use to conduct 40 washes on this. Microban International and Sunbeam Products former a partnership in 2021 to produce antibacterial knife handles.
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Competition Landscape –
Organizations aim to collect 1 million tonnes of plastic for recycling and reuse in an effort to cut down on plastic waste. Businesses have implementer several different waste management solutions, including recycling, burning, bioremediation, and landfills.
Top Featured Companies –
BASF SE Corporation
Bayer Material Science AG
Dupont De Nemours Inc.
Lonza Group AG
Microban International Ltd.
PARX Plastics N.V.
Compounding Solutions LLC
Ray Products Company Inc.
Ticona Engineering Polymers
By Type –
High Performance Plastic
By Application –
Building and Construction
Consumer and Electronic Appliances
By Region –
Middle East & Africa