Global Antimicrobial Plastics Market Report 2020: Impact of COVID-19 on the Market & Growing Awareness for Usage
Dublin, Oct. 20, 2020 (GLOBE NEWSWIRE) -- The "Antimicrobial Plastics Market by Type (Commodity Plastics, Engineering Plastics, and High Performance Plastics), Application (Packaging, Automotive, Consumer Goods, Medical and Healthcare, and Building & Construction), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Antimicrobial Plastics Market Size is Estimated to Grow from USD 36.9 Billion in 2020 to USD 59.8 Billion by 2025, at a CAGR of 10.1%.
Consumer awareness about health-related issues is growing due to the increasing number of cases of nosocomial infections and epidemic outbreaks of life-threatening diseases such as H5N1 Avian influenza, H1N1 Swine flu, and COVID-19 in recent times. This has resulted in increasing demand from various sectors such as healthcare and medical for antimicrobial plastics due to their high antimicrobial activity, hardness, durability, and transparency. They are also used in non-toxic plastic equipment.
The growing demand for medical devices is likely to augment the market of antimicrobial plastics in the healthcare sector. However, volatile prices of raw materials and government regulations on the usage of plastics in certain applications are hindering the growth of the market.
The high performance plastics segment is expected to grow at the highest CAGR during the forecast period
The high performance plastics market is growing rapidly and is expected to continue to grow in the future owing to its increasing demand from various applications such as medical and healthcare, electronics, and automotive. The current market is backed by the high demand from APAC as well as improved regulations by regional environment associations and optimized performance of high performance plastics.
The medical and healthcare application segment is expected to hold the largest market share, in terms of volume and value, between 2020 and 2025
The medical and healthcare application leads the antimicrobial plastics market owing to consumer awareness pertaining to the use of antimicrobial plastics and incidences life-threatening diseases such as H1N1 and nosocomial infections in the recent past. Owing to the awareness, the importance of antimicrobial plastics in medical and healthcare application is expected to increase during the forecast period.
Moreover, innovation in the medical and healthcare application, for instance, the development of non-toxic plastic equipment is anticipated to fuel the growth of the antimicrobial plastics market. Other application areas of antimicrobial plastics in medical and healthcare application include surgical and medical devices such as catheters, cubicle curtains, beds, and dental implants.
APAC is expected to record the highest growth rate in the antimicrobial plastics market during the forecast period
APAC is the fastest-growing antimicrobial plastics market due to the rapid industrialization coupled with the growing plastics industry. The rising disposable income of consumers along with the changing lifestyle plays a significant role in boosting the growth of the antimicrobial plastics market. APAC consists of approximately 60.0% of the global population, which is expected to increase the demand for packaging, consumer goods, and electronic products.
Growing industrialization, backed by infrastructure development in the region, has offered enormous opportunities for the use of antimicrobial plastics in APAC. The increasing middle-class population in the region drives the antimicrobial plastics market. The growing demand and policies, such as emission control and use of environmentally-friendly products, have led to innovation in the plastics industry of the region, making it a plastics hub, globally. The growing population, along with industry alliances, is expected to lead to significant growth of the antimicrobial plastics market in the region.
The key market players profiled in the report include DuPont (US), BASF SE (Germany), Lonza Group (Switzerland), Avient Corporation (US), Microban International (US), Parx Plastics (Netherlands), King Plastic Corporation (US), BioCote (UK), Milliken Chemical (US) and Sanitized AG (Switzerland).
Market Dynamics
Drivers
Outbreak of Pandemic and Growing Awareness for Usage of Antimicrobial Plastics
Expansion of Various End-Use Industries
Restraints
Volatility in Raw Material Prices
Government Regulations on Usage of Plastics in Certain Applications
Opportunities
Growth of the Textile Industry
Porter's Five Forces Analysis
Supply Chain Analysis
Raw Material
Plastic Manufacturers
Compounders and Molders
Distribution Network
End-Use Industry
Shift in Revenue Streams Due to Megatrends in End-Use Industries
Connected Market: Ecosystem
Case Study
Average Selling Price (Usd/Kg)
Patents
Macroeconomic Indicators
Construction Industry
Companies Featured
Addmaster Limited
Agion Technologies Inc.
Akcros Chemical
American Polyfilm Inc.
Americhem Inc.
Avient Corporation
BASF Se
Biocote
Biosafe Inc.
Doeflex Vitapol
Dupont De Nemours, Inc.
Highland Plastics Inc.
King Plastic Corporation
Lonza Group Ag
Microban International Ltd.
Milliken Chemical
Parx Plastics N.V.
Plastics Color Corporation
Polychem Alloy Inc.
Porex Technologies
RTP Company
Sanitized Ag
Teknor Apex Company
For more information about this report visit https://www.researchandmarkets.com/r/pmzua6
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