Antimicrobial Plastics 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.
New York, NY -- (SBWIRE) -- 03/05/2021 -- 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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Top Players Covered in the Report Include:
BioCote, Microban, Bayer Material Sciences, Clariant AG, Parx Plastics, BASF SE, Ticona Engineering Polymers and DuPont.
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.
Similarly, with the rising acceptance of these plastics several healthcare institutions have started adopting antimicrobial plastic equipment to reduce the risks of infection in hospitals.
The continuous research and development for broadening the areas of application and improving the quality and efficiency of products propels the market.
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%.
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
U.S
Canada
Europe
Germany
France
UK
Spain
Italy
Rest of the Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Middle East & Africa
Latin America
Brazil
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Major Highlights of the Report:
The latest report offers a vivid depiction of the global Antimicrobial Plastics business sphere, with prime focus on its fundamental operations, industrial chain analysis, current and future market trends, as well as the prominent growth opportunities.
The report includes critical information on the present and historical market scenarios. Such information is used by market analysts to forecast the likely market conditions over the next eight years (2020-2027).
The strategic marketing recommendations, vital information related to the new market entrants, and the expansion plans of various business verticals are expected to help the reader visualize the competitive edge of the market.
Furthermore, the report scrutinizes the salient factors influencing the growth of the market in the near future.
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rising hygiene concerns
3.2. Global utilization of plastic products
Chapter 4. Antimicrobial Plastics Segmentation & Impact Analysis
4.1. Antimicrobial Plastics Segmentation Analysis
4.2. Antimicrobial Plastics Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Antimicrobial Plastics Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Rise in the population
4.4.1.2. Launch of novel plastics and its increasing applications
4.4.2. Market restraint analysis
4.4.2.1. Volatile raw material costs
4.5. Key opportunities prioritized
4.6. Antimicrobial Plastics Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Antimicrobial Plastics PESTEL Analysis
Chapter 5. Antimicrobial Plastics Market By Product Type Insights & Trends
5.1. Antimicrobial Plastics Type dynamics & Market Share, 2018 & 2026
5.2. Engineering Plastics
5.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)
5.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
5.3. High Performance Plastics
5.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)
5.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
5.4. Commodity Plastics
5.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)
5.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
Chapter 6. Antimicrobial Plastics Market By Application Insights & Trends
Continued…..