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Global Antimicrobial Plastics Market Report 2023: Growth of Textile Industry Presents Opportunities

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Global Antimicrobial Plastics Market

Global Antimicrobial Plastics Market
Global Antimicrobial Plastics Market

Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Global Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High Performance Plastics), Application (Packaging, Automotive, Medical & Healthcare, Consumer Goods), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global antimicrobial plastics market is estimated to grow from USD 41.7 billion in 2022 to USD 64.8 billion by 2028, at a CAGR of 7.7%.

The growth of the healthcare, automotive and building & construction industries is also driving the demand for antimicrobial plastics. Healthcare will be essential to the economic recovery because it has never been more crucial to the world economy than it has been over the last two years due to the global pandemic.

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People across the global have become more aware regarding their health and safety to avoid the spread of infections. All these factors are boosting the demand for antimicrobial plastics especially in medical & healthcare application.

Inorganic additive is expected to be the largest additive of the antimicrobial plastics market

Inorganic additive is classified as silver, copper and zinc. Inorganic additive are non-volatile in nature, have high thermal stability and are used in various application which fuels their market demand. Silver is the commonly used inorganic additive as they are non-toxic, environment friendly, sustainable and has outstanding safety.

Engineering Plastics is expected to be the second fastest-growing type of the antimicrobial plastics market, in terms of value, during the forecast period

Engineering plastics are renowned for their excellent mechanical strength, great dimensional stability, and heat and chemical resistance. ABS, PC, PA, POM and Others (fluoropolymers) are the types of engineering plastics considered in the report.

These engineering plastics consist of individually unique properties, which makes them the top quality choice in different applications such as automotive, consumer goods, electrical & electronics, construction, and packaging. In many applications, engineering plastics are utilised largely to replace conventional materials like metal and wood.

Packaging is expected to be the second fastest-growing type of the antimicrobial plastics market, in terms of value, during the forecast period

With the changing lifestyle and preference for home delivery the demand for safe and hygiene packaging is increasing in food & beverage industry. To preserve and safeguard goods and ensure that they are delivered safely, airtight plastic packaging is a necessary component of modern life.

The expansion of new markets, changes in substrate preferences, and shifting ownership dynamics have all contributed to the constant growth of the global packaging industry over the past 10 years. The increasing demand for personal care products especially in young population is also driving the demand for antimicrobial plastic in personal care products packaging.

Asia-Pacific is projected to be the fastest growing region, in terms of value, during the forecast period in the antimicrobial plastics market

Asia-Pacific is known for its low cost of labor, easy availability of raw materials, increase in adoption of modern technologies, innovations, and easy availability of inexpensive lands, which makes it the global hub for manufacturing. The increasing production and demand for passenger vehicle especially from India and China makes Asia-Pacific an attractive region for automotive manufacturers.

Increase in the production of automotive is due to the presence of key automotive players such as Honda, Toyota, Hyundai, and Nissan. BMW and Volkswagen manufacturers have also expanded their business in this region. These factors are anticipated to fuel the growth of the antimicrobial plastics market in the region.

Key Attributes:

Report Attribute

Details

No. of Pages

273

Forecast Period

2022 - 2028

Estimated Market Value (USD) in 2022

$41.7 Billion

Forecasted Market Value (USD) by 2028

$64.8 Billion

Compound Annual Growth Rate

7.7%

Regions Covered

Global

Market Dynamics

Drivers

  • Growing Awareness Pertaining to Antimicrobial Plastics

  • Expansion of Various End-use Industries

Restraints

  • Volatility in Raw Material Prices

  • Stringent Rules and Regulations on Usage of Plastics in Certain Applications

Opportunities

  • Growth of Textile Industry

Challenges

  • Disposal of Plastics

Companies Mentioned

  • American Polyfilm, Inc.

  • Americhem Inc.

  • Avient Corporation

  • BASF SE

  • BioCote Limited

  • BioSafe Inc.

  • Celanese Corporation

  • Chroma Color Corporation

  • DuPont de Nemours, Inc.

  • King Plastic Corporation

  • Microban International, Ltd.

  • Milliken & Company

  • Organic Plast

  • Palram Industries Ltd.

  • Parx Materials N.V.

  • Polychem Alloy Inc.

  • Polygiene Group AB

  • Porex Corporation

  • Ray Products

  • RTP Company

  • Sanitized AG

  • Sciessent LLC

  • Teknor Apex Company

  • Valtris Specialty Chemicals

  • Well Plastics Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ti5iiq

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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