NEW YORK, Oct. 15, 2021 /PRNewswire/ — The global antimicrobial plastics market size is expected to reach USD 81.95 Billion in 2028 and register a CAGR of 10.2% over the forecast period, according to the latest report by Reports and Data. Steady market revenue growth can be attributed to increasing usage of these plastics in various end-use industries such as construction & building, healthcare, automotive, sportswear, packaging, consumer goods, and electronic products. In addition, rising concerns regarding environmental impacts and increasing investments by various manufacturers in R&D activities to enhance properties of antimicrobial plastics would also aid revenue growth of the market in the coming years.
Antimicrobial plastics are extensively used in the healthcare industry as it possesses multiple beneficial properties such as cleanliness, lower cost, sterility, ease of use, and high effectiveness, unlike conventional materials. Besides, in hospitals and clinics, antimicrobial plastics are used to manufacture several essential products such as curtains, floors, pull cords, nurse call systems, beds, door handles, handrails, and case note holders.
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By type, the antimicrobial plastics market can be segmented into commodity plastics, engineering plastics, high performance plastics, and others. Some of the commonly used commodity plastics are polyethylene, polystyrene, polypropylene, polymethyl methacrylate, polyvinyl chloride, polyurethane, and polyethylene terephthalate. This type of plastics is mainly used for the manufacturing of numerous objects and products designed for single use. This segment accounted for the largest revenue share in global market in 2020. Increasing awareness of antimicrobial plastics among people and rising application of antimicrobial plastics in medical tools are two major factors contributing to this segment’s growth.
Some Key Highlights From the Report:
- In July 2020, Ascend Performance Materials launched Acteev Protect, a specially designed technology developed to guard against the growth of fungi, mildew, and other microbes. This product is capable of keeping textiles and non-woven fabrics longer and fresher. To launch this product, Ascend Performance joined hands with various laboratories for reallocating resources and testing procedures to scale up production.
- Medical and healthcare segment is expected to register a faster CAGR throughout the forecast period. High demand for antibacterial polymer for medicine packaging purposes and increasing use of antimicrobial plastics in medical devices are likely to boost growth of this segment in the near future.
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- Asia Pacific is expected to register a relatively faster CAGR throughout the forecast period. Rising expansion of consumer goods, medical & healthcare, and packaging industries would propel growth in this region. In addition to this, surging population and rapid industrialization would also contribute to market revenue growth in Asia Pacific.
- Some companies in the global market include DuPont, BASF SE, Avient Corporation, Microban International, Ray Products Company Inc., Parx Plastics, King Plastic Corporation, BioCote, Milliken Chemical, and Palram Industries Ltd.
For the purpose of this report, Reports and Data has segmented antimicrobial plastics market based on type, additive, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Commodity Plastics
- Engineering Plastics
- High Performance Plastics
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Additive Outlook (Revenue, USD Billion; 2018-2028)
- Organic
- Inorganic
Application Outlook (Revenue, USD Billion; 2018-2028)
- Packaging
- Consumer Goods
- Automotive
- Medical and Healthcare
- Building & Construction
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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