Antimicrobial Plastic Market to be Dominated by Healthcare Sector through 2028
Rising adoption in the
healthcare sector is expected to drive the Global Antimicrobial Plastic Market
in the forecast period, 2024-2028
According to
TechSci Research report, “Antimicrobial Plastic
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028,” the Global
Antimicrobial Plastic Market is anticipated to upsurge at an impressive rate in
the forecast period 2024-2028. A significant factor fueling the growth of the Global
Antimicrobial Plastic Market is growing investments in the healthcare industry
and increasing demand for medical tools and equipment. In addition, the
presence of a well-developed healthcare infrastructure along with significant
need for modern medical services further fuels the growth of Global Antimicrobial
Plastic market.
For instance, in 2021, Sunbeam Products partnered with
Microban International to produce antimicrobial tools for various applications.
Furthermore,
the market is being further stimulated by growing demand from food &
beverage, construction, and textile sectors.
However,
volatility in raw material costs can slow down the market growth. Also, stringent
environment regulations can further slowdown the market growth.
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Global Antimicrobial
Plastic Market is segmented based on type, additive, end use, and region and
company.
Based on type, the
market is fragmented into commodity plastics, engineering plastics,
high-performance plastics, and others. Commodity
Plastics segment is
expected to hold the largest market share in the forecast period, 2024-2028.
This is due to its unique properties such as high impact strength, chemical
resistance, better biocompatibility, and moisture resistance.
Based on additive, the
market is categorized into inorganic and organic. Organic segment is expected to hold the largest market
share in the forecast period, 2024-2028 as these additives help to increase the
functional life of the plastic and inhibit the growth of bacteria.
Based on end use, the market is segmented into healthcare, packaging,
automotive, construction, food & beverage, and others. Healthcare
segment is expected to hold the largest market share in the forecast period,
2024-2028. This is due to increasing infections and health related awareness among
consumers.
Major
companies operating in the global antimicrobial plastic market are:
- BASF SE
- Parx
Materials N.V.
- Microban
International, Ltd.
- King Plastic
Corporation
- Palram
Industries Ltd.
- RTP Company,
Inc.
- Sanitized AG
- BioCote Ltd.
- Milliken
& Company
- Avient
Corporation
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“Asia
Pacific region is expected to grow at the highest rate during the forecast
period due to an increase in the healthcare and packaging industries. Additionally,
growing government spending on technological advancement in healthcare
infrastructure as well as healthcare policies, as well as increasing demand for
medical devices (both stationary and portable devices) create lucrative
opportunities for market growth. Furthermore, in Europe, rising demand for
electric and hybrid vehicles, as well as the presence of major automotive
manufacturers as it is used on the steering wheel, door handles or internal
HVAC systems, and water delivery pipes creates huge prospects for market growth
during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Antimicrobial Plastic Market- Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type
(Commodity Plastics, Engineering Plastics, High-performance Plastics, Others),
By Additive (Inorganic, Organic), By End Use (HealthCare, Packaging,
Automotive, Construction, Food & Beverage, Others), By Region and
Competition,” has evaluated the future growth
potential of Global Antimicrobial Plastic Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the Global Antimicrobial Plastic Market.”
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