New York, NY -- (SBWIRE) -- 06/12/2019 -- Market Size – USD 29.60 Billion in 2018, Market Growth - CAGR of 7.9%, Market Trends – Investments for research and development to explore newer sectors for application and launch of products with improved quality and durability.

According to the current analysis of Reports and Data, the global Antimicrobial Plastics market was valued at USD 29.60 Billion in 2018 and is expected to reach USD 53.56 Billion by year 2026, at a CAGR of 7.9 %. The study covers the genre of advanced materials with special focus on the antimicrobial plastics market. Antimicrobial plastics are a type of polymer material infused with antimicrobial agents that hinders and restrains the growth of micro-organisms, thus preventing unpleasant odours discoloration and surface degradation of the plastics. These plastics are created in a bid to minimize the spread of infections and promote safe consumption. The benefits of hygienic surfaces are countless along with the applications of the same.

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The safety of a material is a value regardless of the type of application. The rising concerns regarding hygiene has played a major role in increasing the demand for this market. The long lasting nature, improved hygiene and versatility of application are the key driving factors in the market. The volatile raw material costs are usually very high thus posing to be one of the major challenging factors in the market. The rising concerns related to health such as cancer, immunity system suppression, reduction in resistance, bronchitis, skin diseases etc. have brought in a rise in the demand for hygienic plastics. This has been a big boost to the antimicrobial plastics market.

Further key findings from the report suggest
- North America is the fastest growing sector due to the technological advancements, continuous research and development. The region is expected to grow at a CAGR of 8.4%.

- Europe, like North America, due to the increased awareness about hygiene, has been growing at a CAGR of 8.2%. Large investments for research and development have been put to use in the above mentioned regions.

- The rising demand for hygienic products has resulted in an increase in the demand for antimicrobial plastics in several industries such as packaging, automotive, building and construction, consumer goods etc.

- The versatility of application has made the antimicrobial plastics market all the more attractive. For instance, in the food safety aspects, the condition of the food has improved owing to this feature of preventing the adhesion and proliferation of bacteria on food contact surfaces antimicrobial plastics. This has reduced the risks of outbreaks, reduced bad smell, improved the freshness and ultimately improved shelf life.

- Keeping environmental concerns in mind, a large number of manufacturers are now offering the option of customization to optimize the amount of plastic manufactured.

- Asia Pacific dominates the market due to the availability of cheap labor and abundant resources. The large population, rising awareness about hygiene and the growing industrialization has increased the scope of the market in this region. Asia Pacific continues to grow at a CAGR of 7.7%.

- The key players of this market include, BioCote, Microban, Bayer Material Sciences, Clariant AG, Parx Plastics, BASF SE, Ticona Engineering Polymers and DuPont.

- Commodity Plastics dominate the market due to the wide range of industries it can be applied to. Commodity Plastics include industries such as Packaging, Healthcare, Building and Construction etc.

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For the purpose of this report, Reports and Data has segmented the Antimicrobial Plastics market on the basis of type, application, and region:

Type (Revenue, USD Million; 2016–2026)
- Engineering Plastics
- High Performance Plastics
- Commodity Plastics

Application (Revenue, USD Million; 2016–2026)
- Packaging
- Automotive
- Consumer good
- Healthcare
- Building and Construction
- Water Management

Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
o U.S
o Canada
- Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
- Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
- Middle East & Africa
- Latin America
o Brazil

Read more @ https://www.reportsanddata.com/report-detail/antimicrobial-plastics-market

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