Antimicrobial Plastics

The global Antimicrobial plastic is designed to grow at 8.1 % CAGR from 2022 to 2029. It is expected to reach above USD 103.6 Billion by 2029

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 23, 2023 /EINPresswire.com/ -- Antimicrobial plastics are now increasingly being used as a substitute for conventional materials in the healthcare sector for manufacturing medical instruments such as ventilators and anesthesia machines due to their pathogen-inhibiting properties. This plastic helps to minimize the growth of pathogens such as algae, bacteria, and fungi and has excellent moisture resistance, which also increases its acceptance as an effective food packaging solution in the food and beverage industry.

The global Antimicrobial plastic is designed to grow at 8.1 % CAGR from 2022 to 2029. It is expected to reach above USD 103.6 Billion by 2029 from USD 40.2 Billion in 2022.

Antimicrobial Plastics Market Driver

According to Centers for Medicare & Medicaid Services (CMS) the National Health Expenditures (NHE) and Gross Domestic Product (GDP) of US are projected to grow 5.1% annually up to 2030. However, the NHE patterns are pointedly influenced by the COVID-19 pandemic. In addition, even with social distancing, facemasks, and strict hygiene measures, it is nearly impossible to keep every surface sanitized. Hence, there is a need for self-cleansing property to neutralize the surface from contaminant pathogens and reduce the risk of possible spread. Hence, the awareness of antimicrobial plastics has increased, so there is a strong demand for antimicrobial plastics industry in various applications.

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Antimicrobial Plastics Market Players:
DuPont Nemours INC. (US), BASF SE (GERMANY), Microban International (US), Sanitized AG (SWITZERLAND), BioCote Limited (UK), Avient Corporation (US), King Plastic Corporation (US), Milliken Chemical (US), and Parx Plastic N.V (Netherlands).

Recent Developments:
• February 2023- Microban International has launched a series of antimicrobial functions by introducing Microguard technology. This technology aims to bring antifungal properties to PVC, PU, and EVA plastics by preventing degradation and extending the product's life span.
• December 2021- Palram India Pvt. Ltd., a subsidiary of Palram Industries Israel, signed an agreement to acquire a 100% stake in Tuflite Polymers Limited, a major polycarbonate product supplier. This acquisition aimed to achieve India's vast market presence and growth potential to increase its bottom line.
• November 2021- Microban International and Sunbeam Products, Inc. announced a strategic partnership to build a premium quality product portfolio under the brand Calphalon to manufacture knife handles by innovating the Microban silver shield platform with antimicrobial product protection.

Antimicrobial Plastics Market Restraints
Governments across the globe have introduced strict waste policies and recycling processes to save the environment from harmful chemicals released by manufacturing plants. This concern is highlighted by the improper disposal of plastic packaging in the form of containers and bags that pollutes the waterways, clogs sewage water, and deteriorates marine life. Every year, a larger amount of plastic waste is dumped into the oceans, which impacts the food chain of marine ecosystems. End-users are looking for sustainable uses of plastics to reduce plastic pollution. Hence, environmental associations are partnering with local authorities to implement strict laws and regulations, which can hinder market growth during the forecast period.
Some of the key players in the market include

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Regional Analysis:

The market size in Asia Pacific accounted for USD 18.28 billion in 2022, and it is expected to register the fastest growth rate during the forecast period. The market's growth is associated with the expansion of the packaging industry in the region. China held the largest market share as plastics consumption expanded significantly, and this upward trend is expected to continue during the forecast period.
North America’s growing healthcare and consumer goods industries will boost the market growth in this region. The growth can also be attributed to changes in consumer buying behavior, market awareness, and increased demand for packaged foods and beverages.
The market growth in Europe is associated with the rapid expansion of the region's biggest automobile sector in Germany. The strong growth in the automotive industry and increasing adoption of electric vehicles due to rising CO2 emissions will boost product usage in Europe. In addition, major automobile manufacturers in the region are expected to increase the consumption of antimicrobial plastics.

Key Market Segments: Antimicrobial Plastics Market

Antimicrobial Plastic Market by Additive, 2022-2029, (USD Billion), (Kilotons)
• Organic
• Inorganic

Antimicrobial Plastic Market by Type, 2022-2029, (USD Billion), (Kilotons)
• Commodity Plastic
• Engineering Plastic
• High-Performance Plastic

Antimicrobial Plastic Market by Application, 2022-2029, (USD Billion), (Kilotons)
• Bottles
• Food Packaging
• Medical Equipment
• Coating
• Others

Antimicrobial Plastic Market by End-User Industry, 2022-2029, (USD Billion), (Kilotons)
• Medical And Healthcare
• Packaging
• Automotive
• Building Constructions
• Beverages
• Electrical & Electronics

Antimicrobial Plastic Market by Region, 2022-2029, (USD Billion), (Kilotons)
• North America
• Asia Pacific
• Europe
• South America
• Middle East And Africa

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Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Antimicrobial Plastics Market

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