Global Antimicrobial Plastics Market Size To Reach $ 81.95 Billion In 2028, Says Reports And Data
NEW YORK, October 15, 2021 / PRNewswire / – The World antimicrobial plastics market size should reach $ 81.95 billion in 2028 and registers a 10.2% CAGR over the forecast period, according to the latest report from Reports and Data. The steady growth in market revenue can be attributed to the increasing use of these plastics in various end-use industries such as construction and building, healthcare, automotive, sportswear, packaging, consumer goods and electronic products. In addition, growing concerns about environmental impacts and increasing investments by various manufacturers in R&D activities to improve the properties of antimicrobial plastics would also contribute to market revenue growth in the coming years.
Antimicrobial plastics are widely used in the healthcare industry because they have multiple beneficial properties such as cleanliness, lower cost, sterility, ease of use and high efficiency unlike conventional materials. In addition, in hospitals and clinics, antimicrobial plastics are used to make several essential products such as curtains, floors, pull cords, nurse call systems, beds, doorknobs, hands currents and notepads.
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By type, the antimicrobial plastics market can be segmented into basic plastics, engineering plastics, high performance plastics, and others. Some of the basic plastics commonly used are polyethylene, polystyrene, polypropylene, polymethyl methacrylate, polyvinyl chloride, polyurethane, and polyethylene terephthalate. This type of plastic is mainly used for the manufacture of many single-use items and products. This segment accounted for the largest revenue share of the global market in 2020. The growing awareness of antimicrobial plastics among people and the increasing application of antimicrobial plastics in medical tools are two major factors contributing to the growth of this segment.
Some highlights of the report:
- In july 2020, Ascend Performance Materials has launched Acteev Protect, a technology specially designed to protect against the growth of fungi, molds and other microbes. This product is able to keep textiles and non-woven fabrics longer and fresher. To launch this product, Ascend Performance has partnered with various labs to reallocate resources and testing procedures to increase production.
- The medical and healthcare segment is expected to register a faster CAGR throughout the forecast period. The strong demand for antibacterial polymers for drug packaging purposes and the increasing use of antimicrobial plastics in medical devices are expected to drive the growth of this segment in the near future.
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- Asia Pacific is expected to register a relatively faster CAGR throughout the forecast period. The growing expansion of the consumer goods, medicine and health and packaging sectors would stimulate growth in this region. In addition to this, population growth and rapid industrialization would also contribute to the growth of market income in Asia Pacific.
- Some companies in the global market include DuPont, BASF SE, Avient Corporation, Microban International, Ray Products Company Inc., Parx Plastics, King Plastic Corporation, BioCote, Milliken Chemical, and Palram Industries Ltd.
For the purpose of this report, Reports and Data has segmented the Antimicrobial Plastics market on the basis of Type, Additive, Application, and Region:
Type Outlook (Revenue, Billions USD; 2018-2028)
- Plastic materials
- Engineering plastics
- High performance plastics
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Additive Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, billion USD; 2018-2028)
- Consumer goods
- Medical and Health
- Building construction
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of the MEA
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SOURCE Reports And Data