Global antimicrobial plastics market was valued at USD 25.4 million in 2020. It is projected to grow at a compound annual rate (CAGR of 7.9%) between 2020 and 2028. The market's main driver is expected to be the increasing penetration in the healthcare, food and beverage industries. In recent years, there has been a significant increase in antimicrobial plastic demand in consumer goods due to rising awareness about personal hygiene in light of increasing epidemics like H5N1 Avian flu, COVID-19, and H1N1 Swine Flu. Because of their antimicrobial properties, antimicrobial plastics are increasingly being used in healthcare to replace conventional materials for medical instruments like ventilators and anesthetic devices.
These plastics are excellent at resisting moisture, which makes them more suitable for food packaging in the food and drink industry. Antimicrobial additives increase the plastic's functional life and prevent the growth of bacteria which can make it less durable. This makes the plastic more resistant to odor, stainless, and odorless and is ideal for use in medical devices.
Antimicrobial plastics are made using a combination plastic resins with antimicrobial additions. Many antimicrobial additive producers invest in research and development to develop advanced technologies that will help them maintain a competitive edge. Polyfuze Graphics Corp. launched a line of polymer-fusion products that include antimicrobial blocking agents in April 2020.
The demand for antimicrobial materials in the healthcare sector has increased dramatically due to the recent COVID-19 outbreak. Due to the increasing number of sick patients, the demand for medical equipment like ventilators, beds and gloves is growing. This has boosted the demand for antimicrobial materials in the healthcare sector.
Commodity plastic dominated the market, accounting for 67.9% of global revenue in 2020. Over the forecast period, the market will be driven by the increasing use of commodity plastic in packaging, healthcare, food and beverage, and consumer products. These industries are seeing product growth due to rising consumer awareness about personal hygiene and changing lifestyles.
Due to their biocompatibility, high impact resistance, moisture resistance and chemical resistance and wide variety of applications in different end-use industries, polyethylene and polypropylene antimicrobialplastics are major contributors to the increase in demand for commodity plastic.
Coronavirus disease has impacted demand for antimicrobial plastics used in consumer goods applications. Consumers are shifting to products that are safe, reliable, and sustainable. This shift in consumer purchasing behavior and structural changes in the consumer goods sector are expected to increase the demand for commodity plastics that have antimicrobial properties in consumer good applications during the forecast period.
The market's largest segment, the healthcare end-use segment, accounted for over 31.0% of global revenue in 2020. Due to the lower costs of home healthcare compared to hospital care, and the growing demand for ICU medical devices, the demand for antimicrobial plastics in the healthcare industry is expected to grow in the next few years.
Medical devices will be in high demand due to the growing demand for healthcare services, the development of healthcare infrastructure and the rising incidences of cardiovascular disease. This is expected to have positive effects on the demand of antimicrobial plastics in healthcare applications.
The recent spread of COVID-19 around the world is driving the demand for medical equipment such as gloves, masks, testing equipment, ventilators and other medical components. This is boosting the market for antimicrobial plastics. An increasing number of positive cases in countries such as the U.S. and Iran are driving the demand for medical components. This is creating lucrative growth opportunities to the antimicrobial plastics market.
Because it doesn't require any processing and is preservative-free (no need to be processed), antimicrobial plastic packaging is used extensively in the food and beverage industry. It inhibits the growth and reproduction of microorganisms, which extends shelf life for perishable foods. Antimicrobial plastic packaging has seen an increase in usage in recent years due to consumer health awareness and the increasing demand for products that have a longer shelf-life. This trend is expected continue in the future.
Asia Pacific was the dominant market, accounting for 40.0% of global revenue in 2020. The market growth is expected to be driven by the rising demand for antimicrobial plastic in the healthcare and packaging sectors, particularly in India, China, Japan, and other countries like Japan. The rising healthcare spending, due to the increasing prevalence of chronic diseases and the expansion of insurance coverage in countries like India, China, Japan, is expected be a significant factor in government investment in healthcare infrastructure.
COVID-19, a recent epidemic in India, U.S., China, France and other countries, is expected to reduce product demand in construction, automotive, electronic and consumer goods, as well as in electrical and electronic equipment. The recent outbreak has caused a slowdown or halt in manufacturing operations, restrictions in supply and transport, as well as infrastructure slowdown. This is expected to adversely impact the demand in 2020 for antimicrobial plastics in these applications.
The rising number of COVID-19 positive COVID-19 cases around the world is positively impacting the demand for antimicrobial materials in the medical industry. This includes testing equipment, medical bags and gloves, masks, containers, ventilators, and other medical applications.
This market is characterized in large and small-scale businesses that cater to local and global needs. Forward integration is key to the market's success. This includes raw material production, manufacturing, distribution, and final sale to different industries. Continuous raw material supply is possible due to integration across all stages of the value-chain. This also results in low manufacturing costs. A few companies have taken R&D steps to improve their product specifications and market reach. These initiatives are expected to increase product demand over the next years. The following are some of the major players in this sector:
BASF SE
Parx Materials N.V
Ray Products Company Inc.
Covestro AG
King Plastic Corporation
Palram Industries Ltd.
Clariant AG
Sanitized AG
Dow Inc.
Lonza
Up Market Research published a new report titled “Antimicrobial Plastics Market research report which is segmented by End Use (Automotive & Transportation, Building & Construction), by Product (High Performance, Engineering, Commodity), By Players/Companies Lonza , King Plastic Corporation, Covestro AG, BASF SE, Clariant AG, Dow Inc, Sanitized AG, Parx Materials NV, Palram Industries Ltd, Ray Products Company Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Antimicrobial Plastics Market Research Report |
By End Use | Automotive & Transportation, Building & Construction |
By Product | High Performance, Engineering, Commodity |
By Companies | Lonza , King Plastic Corporation, Covestro AG, BASF SE, Clariant AG, Dow Inc, Sanitized AG, Parx Materials NV, Palram Industries Ltd, Ray Products Company Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 248 |
Number of Tables & Figures | 174 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Automotive & Transportation, Building & Construction), by Product (High Performance, Engineering, Commodity).
Antimicrobial Plastics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Antimicrobial Plastics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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