[159 Pages Report] The Antimicrobial Plastics Market size is estimated to grow from USD 29.6 billion in 2018 to USD 43.1 billion by 2023, at a CAGR of 7.8%. 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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The commodity plastics segment is estimated to be the largest type segment of the antimicrobial plastics market in 2018.
Commodity plastics are the most commonly used plastics across a wide range of applications. These plastics are used in applications where mechanical properties and service environments are not very critical. Some examples of commodity plastics are PE, PP, PS, PVC, PMMA, PET, and PUR. These plastics are produced in high volume at low cost for the most common disposable items and durable goods. The widespread applications, easy availability, and low-cost materials are the key factors driving the commodity plastics market.
The medical and healthcare application segment is estimated to lead the antimicrobial plastics market during the forecast period.
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 and nosocomial infections 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 during the forecast period
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.
The leading players in the market include the BASF SE (Germany), Bayer MaterialScience AG (Germany), The Dow Chemical Company (U.S.), Clariant AG (Switzerland), Lonza Group AG (Switzerland), Microban International (U.S.), Parx Plastic BV (The Netherlands), King Plastic Corporation (U.S.), Biocote (U.K.), Milliken Chemical (U.S.), Sanitized AG (Switzerland), and PolyOne Corporation (U.S.).
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