Growing awareness about usage of antimicrobial plastics is driving the Antimicrobial Plastics Market
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%. The market is mainly driven by the rising demand for antimicrobial plastics from applications such as packaging, automotive, consumer goods, medical and healthcare, building & construction, and others. Growing demand for antimicrobial plastics in upcoming applications has created various opportunities for the manufacturers. APAC is the key market for antimicrobial plastics, globally, followed by Europe and North America. One of the primary drivers of the market is the growing awareness of antimicrobial plastics in these regions.
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Despite social distancing, facemasks, and strict hygiene measures, it is near to impossible to keep every surface sanitized. Hence, there is a need for self-cleansing property that would neutralize the surface from contaminant pathogens and reduce the risk of possible spread. With the number of COVID-19 positive cases increasing day by day and the absence of relevant vaccines, there is a strong demand for coatings like antimicrobial plastics in various applications. Antimicrobial plastics possess properties such as high antimicrobial activity, hardness, durability, and transparency, which make them suitable for use in non-toxic plastic equipment. In addition, the growing demand for medical devices is augmenting the growth of antimicrobial plastics in the healthcare sector. The need to repel surface pathogens and the awareness for antimicrobial plastics is growing rapidly, which in turn, is increasing the demand for antimicrobials plastics in the medical & healthcare sector.
The medical and healthcare application segment is estimated to lead the antimicrobial plastics market
The medical and healthcare application leads the antimicrobial plastics market owing to consumer awareness regarding health-related issues and life-threatening diseases such as H1N1, nosocomial infections, and COVID-19 in the recent past. As a result, 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. Surgical and medical devices such as catheters, cubicle curtains, beds, and dental implants are the other medical and healthcare applications of antimicrobial plastics.
APAC is estimated to account for the largest share of the antimicrobial plastics market
APAC is the largest and fastest-growing antimicrobial plastics market. Growing industrialization, backed by infrastructure development in the region, has offered enormous opportunities for the use of antimicrobial plastics in APAC. 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.
Major 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).
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