Antimicrobial Plastics Market Size to Surpass USD 98 BN by 2030

Tokyo, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Some sales insight revealing the strong growth of antimicrobial plastics market during the past few years are listed below:

• The global antimicrobial plastics market value is expected to reach US$52.83 billion by 2030.
• By product, the commodity plastics segment accounted for a revenue share of 66% in 2021.
• By end use, the healthcare segment captured a market share of 30% in 2021.
• Asia Pacific antimicrobial plastics market was valued at around US$10.93 billion in 2021.
• By end use, the food and beverages is expected to be the fastest-growing segment from 2022 to 2030.
  
  

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Leading Regions Market Review

Approximately 40% of the Global Antimicrobial Plastics Market Captured by Asia Pacific

Asia Pacific is witnessing a strong economic growth with the rising government investments in the development of industrial-friendly infrastructure and favorable government policies regarding FDIs that has led to the establishment of industries across the Asia Pacific. The presence of variety of industries in the region and the rising adoption of the antimicrobial plastics in the packaging of various consumer goods and food and beverages products has led to the dominance of the Asia Pacific in the global antimicrobial plastics market. The significantly rising population in the region, growing demand for food and consumer goods, and rising awareness regarding the personal hygiene has led to the adoption of antimicrobial plastics for packaging across various end use verticals such as healthcare, automotive, textile, packaging, construction, and various other industries. The rising geriatric population and growing prevalence of chronic and infectious diseases is boosting the demand for the antimicrobial plastics in the manufacturing of various medical devices and medical components in the region. Furthermore, the presence of huge number of manufacturing units of various industries has subsequently led to the increased consumption of antimicrobial plastics and Asia Pacific is expected to be the fastest-growing market during the forecast period.

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Scope of the Report

What are the key trends in the Global Antimicrobial Plastics Market?

The presence of huge textile industry in the developing markets is expected to offer huge growth opportunities to the players operating in the global antimicrobial plastics market in the foreseeable future. According to the FICCI (Federation of Indian Chambers of Commerce and Industry), the global textile industry size was estimated at US$900 billion in 2018. It accounted for approximately 2% of the global GDP. China and India are the leading markets for textile and are expected to reach a value of US$2,634 billion by 2025. The top eight textile consuming countries accounts for the 70% of the global textile market revenue. The significantly growing textile industry across the globe is expected to boost the demand for the antimicrobial plastics in the upcoming future. Apart from the textiles, the packaged food is rapidly penetrating into the developing countries across the globe. The rising usage of antimicrobial plastics in the food and beverages industry owing to its antimicrobial properties and moisture resistance is driving the demand for the antimicrobial plastics.

What are the key challenges in the Global Antimicrobial Plastics Market?

There are certain strict regulations in various countries that restricts the use of plastics owing to its adverse impact on the environment. Indian government banned the production of plastics that does not comply with the compostable plastic applications as directed by the Bureau of Indian Standards, in 2009. Similarly, in 2016, use of plastic bags with thickness of 40 microns were banned in India. In 2018, the European Union banned the use of single use plastics. Similar steps taken by various other nations like US and Canada created a challenge for the manufacturers of the antimicrobial plastics. Rising awareness among the population regarding the harmful effects of plastics on the environment is fueling the adoption of eco-friendly and sustainable alternatives to the plastics. Therefore, the rising adoption of the plastic alternatives is expected to hamper the market growth during the forecast period.

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LAMEA Forecast the Strong Growth Rate of during the Forecast Year (2022-2030)

The rising population in the LAMEA region, rising industrialization, growing urbanization, and growing penetration of textile and food and beverages industry are some of the major factors that are expected to boost the growth of the LAMEA antimicrobial plastics market during the forecast period.

By Product

• Commodity Plastics
  • Polyvinyl Chloride
  • Polyethylene
  • Polyethylene Terephthalate
  • Polypropylene
  • Polystyrene
  • Acrylonitrile Butadiene Systems
• Engineering Plastics
  • Thermoplastic Polyurethane
  • Polycarbonate
  • Polyamide
  • Others
• High Performance Plastics
  
  

By End Use

• Automotive and Transportation
• Packaging
• Healthcare
• Building and Construction
• Packaging
• Textile
• Consumer Goods
• Others

By Application

• Refining & Petrochemical
• Metals 
• Power Generation
• Others

By Additive

• Inorganic (Silver, Copper, and Zinc)
• Organic (Oxybisphenoxarsine (OBPA), Triclosan, and others)

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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