Antimicrobial plastics are a range of plastics that are incorporated with antimicrobial additives which make them capable of destroying microbes and bacteria. They help reduce the growth and spread of microbes and are highly effective against pathogens. These plastics find wide usage in healthcare, packaging, food and beverage industries due to their ability to inhibit microbial growth.
The global Antimicrobial Plastics Market is estimated to be valued at US$ 37.35 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased usage of antimicrobial plastics can be attributed to the rising safety measures across industries. With growing awareness regarding hygiene and safety, antimicrobial plastics are being increasingly used in applications such as food packaging, healthcare and medical devices. Their effectiveness in inhibiting microbes makes them an ideal material for products that come in contact with humans. Their antimicrobial properties help reduce cross-contamination and prevent the transmission of infections. Hence, their usage is growing in various industries to ensure safer products and improved safety measures.
Segment Analysis
The global antimicrobial plastics market is dominated by the commodity plastics segment. Commodity plastics, such as polypropylene and polyethylene, account for over 50% of the total market share owing to their low cost of production and multi-purpose usability. These polymer plastics are used across various end-use industries for their durability and chemical resistance. The film & sheet sub-segment within the commodity plastics dominates other forms due to its highest volume of consumption in medical packaging, food & beverages packaging, and consumer goods.
Key Takeaways
The global antimicrobial plastics market analysis is expected to witness high growth over the forecast period of 2024 to 2031. The rising demand from the medical industry for durable and safer surfaces for medical devices and hospital infrastructure is projected to drive the market. The global Antimicrobial Plastics Market is estimated to be valued at US$ 37.35 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.
Regional analysis
Asia-Pacific region currently dominates the global antimicrobial plastics market and is expected to maintain its position over the forecast period. This is attributed to the low-cost manufacturing and abundant availability of raw materials in the region. Furthermore, the rising health awareness and robust growth of the healthcare sector in emerging nations such as China and India further support the regional market growth.
Key players
operating in the antimicrobial plastics market are The Dow Chemical Company, BASF SE, Clariant AG, Lonza Group AG, PolyOne Corporation, Microban International, Parx Plastics N.V., King Plastic Corporation. The antimicrobial plastics market is highly consolidated with the top players accounting for over 60% of the overall market share. These leading players are investing significantly in the development of advanced polymer formulations and strengthening their distribution networks across different regions to gain higher revenues.
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