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The global antimicrobial plastics market is poised to demonstrate strong growth during the forecast period. This can be attributed to the increasing consumption of these plastics in the medical & healthcare sector, particularly in emerging economies such as China, India, Brazil, and Thailand, wherein there has been a surge in investments in healthcare. Additionally, the demand for such polymers is expected to increase from the industrial sector, owing to the requirement for antimicrobial additives during the manufacturing process to provide lasting protection from microbes.
The antimicrobial plastics market, on the basis of type, has been categorized into commodity, engineering, and high-performance. Among these, the commodity category is expected to account for a significant market share throughout forecast period. This can be primarily ascribed to the high-volume usage of these materials in applications such as medical & healthcare, packaging, construction, and automotive. Moreover, with the rapid surge in building & construction activities and growth in the industrial sector in developing countries, such as China, Brazil, India, and Thailand, the consumption of commodity antimicrobial plastics is projected to increase in the near future.
The antimicrobial plastics market has also been categorized on the basis of application into packaging, automotive, consumer goods, medical & healthcare, building & construction, and others. Of these, the medical & healthcare category is expected to account for a significant share in the market in the forecast period. This can be attributed to the high-volume usage of these plastics in medical devices and medical textiles. In the medical & healthcare sector, it is extremely vital to prevent any transfer of microbes or germs, owing to which the sector continues to witness a high demand for such plastics.
Geographically, Asia-Pacific (APAC) is expected to hold the largest market share throughout the forecast period. This can be ascribed to the rising demand for antimicrobial polymers for application in medical devices, medical textiles, packaging, and building & construction material. With the increasing government expenditure on the healthcare sector, the consumption of antimicrobial plastics is rising. This includes the usage of these plastics in medical gowns, gloves, masks, and several types of medical equipment. Such factors are likely to benefit the market in the region during the forecast period.
The antimicrobial plastics market is primarily being driven on account of the high-volume demand for these plastics from the medical & healthcare sector globally. Moreover, a rise in concerns to prevent the contamination of surfaces, along with increasing awareness regarding the benefits of such plastics, including high durability, more hygienic nature, and ability to protect against stains, is fueling the demand for these plastics to a great extent.
Antimicrobial plastics are transparent and have excellent durability. Over and above that, these plastics are protected against stains and odors and have the ability to imbue a plastic with antibacterial, antimould, and antiviral properties; hence, their demand is likely to increase with the rising demand for consumer products such as water bottles and baby toys. Additionally, the surge in industrial activities such as building & construction and rise in demand for packaging are further helping the market for antimicrobial plastics advance.
Although these polymers have numerous advantages, the development of new technologies is likely to hamper the market growth to some extent in the coming years. This includes a shift toward organic or renewable plastics, which require minimal usage of additives. This is likely to compel manufacturers to develop organic plastics, which might increase their manufacturing cost by a high margin, thereby affecting the adoption of antimicrobial additives.
Some of the companies operating in the global antimicrobial plastics market are BASF SE, Microban International, Lonza Group AG, Saudi Basic Industries Corporation, Parx Plastics Europe B.V., and King Plastic Corporation.
The study provides the historical as well as the forecast market size for the antimicrobial plastics market.
The antimicrobial plastics market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
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Based on Application