Antimicrobial Plastics Market Share Will Take a Big Hit in the Coming Years
The report "Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High-Performance Plastics), Application and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2026", is projected to reach USD 66.7 billion by 2026, at a CAGR of 10.8% from USD 40.0 billion in 2021.
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Browse 299 market data Tables and 47 Figures spread through 270 Pages and in-depth TOC on "Antimicrobial Plastics Market”
Antimicrobial plastics are polymer materials infused with antimicrobial agents and additives to kill microorganisms, such as bacteria, algae, and fungi, and inhibit their growth on the end-use products. The continuous and repeated use of plastic materials causes hygiene-related concerns, increasing the risk of contamination and pathogenic diseases. Commodity plastics, engineering plastics, and high-performance plastics are majorly used in applications such as medical & healthcare and packaging.
“Inorganic additives is projected to be the fastest-growing additive for antimicrobial plastics market between 2021 and 2026”
Antimicrobial additives are of two types: inorganic and organic. There is a higher demand for inorganic antimicrobial additives mainly due to their non-volatile nature, high thermal stability, and widespread applications. Inorganic antimicrobial additives are widely used in the healthcare, packaging, and construction industries. Silver is the most commonly used inorganic antimicrobial additive. It is non-toxic, environmentally friendly, sustainable, and has excellent safety.
“High-performance plastics segment is projected to be the fastest-growing type for antimicrobial plastics market between 2021 and 2026.”
The antimicrobial plastics market is segmented into three different types: commodity plastics (PE, PP, PVC, PS, PMMA, PET, and PUR), engineering plastics (ABS, PC, PA, POM, and others), and high-performance plastics. Each plastic has its unique properties that are considered for specific applications. After the outbreak of COVID-19 at the beginning of 2020, there was a surge in demand for antimicrobial plastics in different industries. High performance plastics differ from other plastics—commodity and engineering—primarily due to their temperature stability, chemical stability, and mechanical properties. This type of polymer is used in high-end products. It is used in premium cars for reducing the weight with the same strength as that of metal. Similarly, it is also used in medical equipment where mechanical properties, thermal stability, and other features along with antimicrobial protection are required.
“Medical & Healthcare is projected to be the largest and fastest-growing application in antimicrobial plastics market between 2021 and 2026.”
The medical & healthcare segment is estimated to be the largest and fastest-growing application of the antimicrobial plastics market during the forecast period. The medical & healthcare segment leads the antimicrobial plastics market owing to the rising incidence of life-threatening diseases such as H1N1, nosocomial infections, COVID-19, and other health-related issues. Increasing consumer awareness about personal hygiene and the quality of medical equipment is expected to drive the market in the segment. In 2020, the most demanded industry was medical & healthcare owing worldwide outbreak of COVID-19. In some countries, temporary hospital setups were built in a short span of time to handle the high number of COVID-19 patients. Therefore, this scenario also generated a high demand for hospital beds, and other medical equipment made up of antimicrobial plastics.
“Asia Pacific is the largest market for the antimicrobial plastics during the forecast period”
Asia Pacific is the largest and fastest-growing antimicrobial plastics market. The growing applications of commodity plastics in the packaging, construction, automobile, medical, healthcare, and electronics industries are majorly driving the market. The growth of these end-use segments is largely driven by a thriving population, soaring per capita income, and changing lifestyle of consumers in the region. Flourishing construction activities, rising demand for textile and packaged food products due to the growing disposable income of the middle-class population, and increased purchasing power generating demand for household goods are expected to drive the demand for antimicrobial plastics in Asia Pacific.
The key market players profiled in the report include DuPont De Nemours Inc. (US), BASF SE (Germany), Microban International (US), Sanitized AG (Switzerland), BioCote Limited (UK), Avient Corporation (US), King Plastic Corporation (US), Milliken Chemical (US), and Parx Plastics N.V (Netherlands). They have adopted strategies such as and new product launch, acquisition, and collaboration in order to gain an advantage over their competitors
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