Antimicrobial Plastics Market Set for Rapid Growth Of USD 59.8 Billion By 2025: MarketsandMarkets™Chemicals ResearchUpdated on Oct 11, 2023 View more like this | Visit NORTHBROOK, IL | Contact Rohit |
The report "Antimicrobial Plastics Market by Type (Commodity Plastics, Engineering Plastics, and High Performance Plastics), Application (Packaging, Automotive, Consumer Goods, Medical and Healthcare, and Building & Construction), Region - Global Forecast to 2025", is projected to reach USD 59.8 billion by 2025 from USD 36.9 billion in 2020, at a CAGR of 10.1%. Antimicrobial plastics are polymer materials infused with antimicrobial agents and additives to kill microorganisms, such as bacteria, algae, and fungi, and inhibit their growth in end-use products. The continuous and repeated use of plastic materials causes issues related to hygiene, thereby increasing the risk of contamination and pathogenic diseases.
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Browse 146 market data Tables and 34 Figures spread through 171 Pages and in-depth TOC on "Antimicrobial Plastics Market”
The major factors driving the antimicrobial plastics market are the growing awareness about health-related issues, rapid urbanization, growing population, increasing demand from the healthcare sector, and wide application areas of antimicrobial plastics.
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, 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.
Players in the antimicrobial plastics market are mainly concentrating on new product launches and acquisitions to meet the growing demand for antimicrobial plastics for various end-use industry. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the antimicrobial plastics market has been influenced by new product launches that were undertaken between 2018 and 2021. Different companies are deploying different strategies to strengthen their position in the antimicrobial plastics market. DuPont De Nemours Inc. (US), BASF SE (Germany), Microban International (US), and Sanitized AG (Switzerland) are focusing on their domestic market. These four companies are vital in their home regions and explore geographic diversification alternatives to grow their businesses. They have been focusing on increasing their market shares through partnerships and enhancing their product portfolios during the past few years.
DuPont is the largest player in the antimicrobial plastics market. The company operates through five segments: nutrition & biosciences, safety & construction, transportation & industrial, electronics & imaging, and non-core. The company offers antimicrobial solutions through its nutrition & biosciences segment. It has a vast geographical presence and competes against global players such as BASF SE (Germany) and Royal DSM N.V. (Switzerland). In January 2021, DuPont launched a commodity plastic, NovaGARD. It is a blend of two natural ingredients: Nisin A and Rosemary Extract, which have antioxidant and antimicrobial properties. This combination is effective against bacteria and spores and is used in culinary, meat, poultry, and seafood applications.
On the other hand, BASF SE is the second-largest player in the antimicrobial plastics market. BASF SE is a major chemical company and operates globally through six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. These segments cater to customers demands of various industries such as restructuring, care chemicals, nutrition & health, paper chemicals, and performance chemicals. The company, through its agricultural solutions segment, offers antimicrobial solutions with a variety of products. BASF SE operates globally through its subsidiaries with more than 380 production sites. The companys prime competitors include DuPont (US) and Avient Corporation (US).
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