Global Antimicrobial Plastics Market Report 2023: Growth of Textile Industry Presents Opportunities
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.
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.
No. of Pages
2022 - 2028
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2028
Compound Annual Growth Rate
Growing Awareness Pertaining to Antimicrobial Plastics
Expansion of Various End-use Industries
Volatility in Raw Material Prices
Stringent Rules and Regulations on Usage of Plastics in Certain Applications
Growth of Textile Industry
Disposal of Plastics
American Polyfilm, Inc.
Chroma Color Corporation
DuPont de Nemours, Inc.
King Plastic Corporation
Microban International, Ltd.
Milliken & Company
Palram Industries Ltd.
Parx Materials N.V.
Polychem Alloy Inc.
Polygiene Group AB
Teknor Apex Company
Valtris Specialty Chemicals
Well Plastics Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ti5iiq
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