Antimicrobial Plastics Market Size to Reach USD 51,468 Million by 2030 Growing at 7.6% CAGR Driven by Augmented Awareness Towards Consumer Hygiene – Exclusive Report By Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Antimicrobial Plastics Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”
TOKYO, June 27, 2022 (GLOBE NEWSWIRE) — According to Acumen Research & Consulting, the global antimicrobial plastics market size was valued at USD 26,981 Million in 2021 and is estimated to grow at a CAGR of 7.6% during the forecast period from 2022 to 2030 and reach the market size of USD 51,468 Million by 2030.
Plastics are incredibly significant materials that give several benefits in both individual and social lives. Plastics are constantly piling up in the environment, and due to their poor biodegradability ratio, this problem will remain for centuries. Until recently, oceans were thought to be litter dumping grounds, resulting in serious environmental issues from persistent poisons. However, plastic and plastic particle waste endangers or kills aquatic creatures and penetrates the food chain, causing health issues. The development of concepts and methods to reduce marine plastic pollution is in high demand.
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To mitigate such environmental repercussions, studies show that antimicrobial compounds can extend the longevity of a plastic product. Once incorporated into the plastic, they will attempt to limit the presence of microorganisms, which can cause the plastic to degrade faster. This means that an antibacterial plastic product will remain longer, making it easier to harvest if it is disposed of carelessly.
Antibacterial plastic is a type of plastic that has the ability to kill or limit the spread of bacteria such as molds, pathogens, algae, and microorganisms that can infect the plastic. Antimicrobial polymers employ antimicrobial compounds to protect a polymer’s surface from microbe formation and to provide increased surface protection between extensive cleanings. Antimicrobial treatments protect against microbial breakdown and can lower the amount of some product-damaging bacteria when contrasted to an untreated surface. Furthermore, antimicrobial polymers are gaining popularity because they are more hygienic, reduce biofilm formation, and protect against discoloration and bad odors. Furthermore, because antimicrobial plastics are less inexpensive than ordinary plastic, it is used in a variety of applications.
Antimicrobial Plastics Market Report Coverage:
|Market||Global Antimicrobial Plastics Market|
|Market Size 2021||USD 26,981 Million|
|Market Forecast 2030||USD 51,468 Million|
|CAGR During 2022 – 2030||7.6%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Product, By End-Use, By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||BASF SE, Milliken Chemical, Clariant AG, Bayer Material Science AG, King Plastic Corporation, Dow Chemical Company, Ray Products Company Inc., Covestro AG, Parx Materials N.V, Palram Industries Ltd., Lonza, and Sanitized AG.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Antimicrobial Plastics Market Growth Aspects
Rising urbanization, greater demand from the packaging and hospitality industries and higher disposable incomes all contribute to market expansion. Antimicrobial polymers also have improved chemical stability, chemical and heat resistance, high stiffness, and mechanical characteristics. Furthermore, antimicrobial plastics have several benefits to the market such as increased hygiene awareness, improved lifestyle habits, and the replacement of conventional materials with plastics. Additionally, the market is being driven by rising demand for antimicrobial plastics in end-use sectors such as building construction, automotive, consumer items, and packaging. Increased R&D expenditures for enhanced density and efficiency production costs are predicted to create antimicrobial plastics with potential markets. However, constraints such as environmental and safety restrictions, as well as government instructions on the use of plastics, impede the growth of the antimicrobial plastics market. In addition, the global antimicrobial plastic business is hampered by fluctuating raw material prices.
COVID 19 Epidemic And Growing Concerns About Antimicrobial Plastics, Drive The Market
Despite the face protection, social distance, and severe hygiene practices, sterilizing every surface is almost impossible. As a result, self-cleaning qualities are necessary to neutralize contaminated bacteria and limit their spread. With a relatively high proportion of COVID-19 cases in the world, antimicrobial polymers in a variety of applications are in high demand. Antibacterial polymers are suitable for non-toxic polymer equipment because of their strong antibacterial activity, durability, hardness, and visibility. The increased demand for medical equipment is driving the growth of antimicrobial polymers in the healthcare industry. Demand for antimicrobial plastics in the healthcare and medical industries are driven by the growing need to repel surface diseases as well as increased awareness about antimicrobial polymers.
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Antimicrobial Plastics Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global antimicrobial plastics market. In terms of value, Europe contributed for the largest behind North America in the antimicrobial plastics market in 2021. This growth is consistent with the presence of a significant healthcare sector in the region. The strict norms and environmental laws of the European Union Council have proven to be both a driver and a hindrance for the antimicrobial plastics business. The commodity plastics industry in Europe is being driven by the packaging, automotive, and building and construction industries. Furthermore, The COVID-19 epidemic in Europe and North America was a major element in attracting consumer interest in antimicrobial plastics for usage in a variety of end-use verticals.
Antimicrobial Plastics Market Segmentation
The global antimicrobial plastics market has been segmented by Acumen Research and Consulting based on product, and end-use. Based on the product, the market is divided into commodity plastics, engineering plastics, and high-performance plastics. Based on the end-use, the market is categorized into building & construction, healthcare, automotive & transportation, packaging, textile, food & beverage, consumer goods, and others.
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Antimicrobial Plastics Market Players
Some key players covered global in the antimicrobial plastics industry are BASF SE, Milliken Chemical, Clariant AG, Bayer Material Science AG, King Plastic Corporation, Dow Chemical Company, Ray Products Company Inc., Covestro AG, Parx Materials N.V, Palram Industries Ltd., Lonza, and Sanitized AG.
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The global antimicrobial coatings market size is expected to grow at a CAGR of 10.8% from 2020 to 2027 and reach the market size of around USD 6,756.2 Million by 2027.
The global antimicrobial susceptibility testing market size is expected to grow at a CAGR of around 5.4% from 2020 to 2027 and expected to reach the market value of USD 4,764.3 Million by 2027.
The global antimicrobial textiles market size is expected to reach the market size of USD 15,800 Million by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 to 2027.
The global antimicrobial additives market is expected to grow at a CAGR of around 8.0% during the forecast period 2019 to 2026 and expected to reach around USD 3.9 Billion by 2026.
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
E-mail: [email protected]
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