According to a market research report, the “Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High Performance Plastics), Application (Packaging, Automotive, Medical & Healthcare, Consumer Goods), & Region – Global Forecast to 2028″, size was USD 41.7 billion in 2022 and is projected to reach USD 64.8 billion by 2028, at a CAGR of 7.7%, between 2023 and 2028.
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- 340 Market data Tables
- 45 Figures
- 270 Pages and in-depth TOC on “Antimicrobial Plastics Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The key players in the market include Toray Industries Inc. (Japan), SGL Carbon (Germany), Teijin Limited (Japan), Mitsubishi Chemical Holding Corporation (Japan), Owen Cornings (US), Hexcel Corporation (US), Solvay SA (Belgium), Gurit (Switzerland), UFP Technologies Ltd. (US), Huntsman Corporation (US), and Hexion (US).
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Antimicrobial Plastics Market.
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Inorganic was the largest additive of the antimicrobial plastics market, in 2022
Copper type of inorganic additive is majorly used in medical & healthcare, food & beverage, consumer goods and agricultural industries. These additive have high thermal and electrical conductivity, good corrosion resistance and ease of formability. Hospitals, ambulances, public buildings and public transports are some of the applications od copper additive. Zinc inorganic additive is used in the lining of food cans which are used for the packaging of meat, fish, corn and peas. Zinc helps in preserving colors and preventing spoilage.
High Performance Plastics is projected to register the highest CAGR, in terms of value, of the global antimicrobial plastics during the forecast period.
High performance plastics are the most expensive plastic material compared to commodity plastics and engineering plastics. The high performance plastics market is projected to witness a high growth rate and is expected to continue to grow due to its growing demand from industries such as medical & healthcare, electronics, and automotive. Even though the consumption of these plastics in terms of volume is low,but their market share in terms of value is more owing to their high prices. High performance type of polymer is used in high-end products. They are used in premium cars in order to reduce weight but have the same strength as that of metal. They are also used in medical equipment where mechanical properties, thermal stability, and other features along with antimicrobial protection are required.
Medical & Healthcare is estimated to be the largest application of the antimicrobial plastics, in terms of value, during the forecast period.
The medical & healthcare segment is estimated to be the largest application of the antimicrobial plastics market during the forecast period. Commodity plastics such as PVC and PET are used for manufacturing of surgical plastic equipment such as tubes, aprons, and injections. Also the increasing senior citizen population, spread of various diseases and need for safe and hygienic lifestyle is driving the market demand. Over the forecast period, it is anticipated that this change in consumer purchasing behaviour and structural changes in the consumer products industry would enhance demand for consumer plastics with antimicrobial qualities.
Asia Pacific is estimated to be the largest market for the antimicrobial plastics market, in terms of value, during the forecast period.
Asia Pacific is the largest and fastest-growing antimicrobial plastics market. Asia has seen widespread use of plastic packaging, with countries like India and China making large contributions through their food and beverage industries. Packaging sector has been a major force behind technology and innovation in the nation over the past few years, adding value to a number of manufacturing industries, including agriculture and the fast-moving consumer goods (FMCG) segments. High demand for specialised medical services due to the presence of developed healthcare infrastructure, rising rates of cardiovascular illnesses and an ageing population are anticipated to fuel the demand for medical equipment, which would in turn have a favourable impact on the demand for antimicrobial plastic in the healthcare industry, in Asia Pacific region.
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