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The increasing demand for safety and hygiene products in multiple sectors is a crucial factor driving the growth of market revenue.

NEW YORK CITY, NEW YORK, USA, May 1, 2023 /EINPresswire.com/ -- Market Overview:

The global antimicrobial plastic market size was USD 41.04 Billion in 2022 and is expected to register a revenue CAGR of 8% over the forecast period, according to the latest report by Reports and Data.
The food industry has a growing demand for packaging materials that can preserve food products for longer periods and maintain their freshness. To meet this need, there is an increasing use of antimicrobial plastics that can prevent bacterial growth and ensure the safety and purity of food during transportation and storage. This trend is expected to drive the market revenue growth of antimicrobial polymers in the food and beverage industry.
The market is witnessing a significant growth in revenue due to the increasing focus on sustainability and minimizing environmental impact. Antimicrobial polymers play a vital role in reducing the use of harmful chemicals and disinfectants, which in turn helps to reduce the environmental impact of these products. This has led to a rise in demand for antimicrobial polymers that are environmentally friendly and biodegradable.

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Antimicrobial Plastic Market: Segmentation

The base year for market estimation is 2022, with historical data available for 2020-2021, and the quantitative units used for measuring market growth are revenue in USD Billion.
The report covers a comprehensive analysis of the market, including revenue forecast, company ranking, competitive landscape, growth factors, and trends. It is segmented by Product Outlook, End-use Outlook, and Regional Outlook, providing a detailed view of the market.
The Product Outlook segment is further classified into Commodity Plastics, Engineering Plastics, and High Performance Plastics, with subcategories such as Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Systems (ABS), Polyethylene Terephthalate (PET), Polyamide (PA), Polycarbonate (PC), Thermoplastic polyurethane (TPU), and others.
The End-use Outlook segment is segmented into Building & Construction, Automotive & Transportation, Healthcare, Packaging, Food & Beverage, Textile, Consumer Goods, and Others.
The report's Regional Outlook covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Antimicrobial Plastic Market: Strategic Development

LG Chem introduced a new antimicrobial plastic product, called 'Biosafe,' in 2021. It is composed of polyolefin resin and incorporates an antimicrobial agent that helps prevent the growth of bacteria, fungi, and viruses. The product is versatile and can be used in various applications, including consumer electronics, medical devices, and automotive components.

In 2020, BASF SE and NMG Nanomaterials Germany GmbH entered a strategic partnership to develop antimicrobial plastics for the healthcare sector. The goal of the partnership is to utilize the unique properties of nanomaterials to create plastics that can help prevent the spread of infections in healthcare facilities.

In the same year, Covestro AG obtained DSM Engineering Plastics' thermoplastic polyurethane business, a Dutch firm. The acquisition aimed to expand Covestro's product offerings across various sectors, including healthcare, automotive, and electronics.

Also in 2020, LyondellBasell Industries N.V. acquired A. Schulman, a U.S.-based company that specializes in engineered plastic compounds. The acquisition aimed to expand LyondellBasell's market reach and product portfolio in the global plastics industry.

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Antimicrobial Plastic Market: Competitive Landscape

The global antimicrobial plastic market is highly competitive and dominated by a few large players. These companies are actively pursuing strategies such as mergers and acquisitions, strategic partnerships, and new product launches to gain a competitive edge in the market.
The following companies are among those analyzed in the report: BASF SE, DowDuPont, Bayer AG, Covestro AG, LyondellBasell Industries N.V., PolyOne Corporation, Clariant AG, King Plastic Corporation, Parx Plastics NV, and LG Chem. The report provides insights into their market positioning, revenue ranking, and strategies for growth, along with an analysis of the competitive landscape in the plastics industry. The report also identifies key growth factors and trends in the industry that are expected to shape the market in the coming years.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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