A recent report published by Infinium Global Research on antimicrobial plastics market provides in-depth analysis of segments and sub-segments in the global as well as regional antimicrobial plastics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional antimicrobial plastics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global antimicrobial plastics market. According to the report, the global antimicrobial plastics market is projected to grow at a CAGR of 7.48% over the forecast period of 2019-2025.
The plastics industry is facing problems due to growing concerns regarding environment and health issues. The plastics manufacturing companies are developing new products to tackle the challenges in front of the industry. Antimicrobial plastics are a lot safer than conventional plastics in terms of the effect on health along with being safe for the environment as well. The antimicrobial plastics market is a relatively new market with key players focusing on developing innovative products. The major plastics manufacturers including BASF SE, Dow Chemical Company, Covestro AG, Microban International, Ltd., PolyOne Corporation, Ticona Polymers Inc. and others are collaborating with antimicrobial additive companies in order to set up new product lines by following mutually agreed business strategy.
The rise in awareness among consumers regarding health is the major driving factor for the antimicrobial plastics market. The conventional plastics are harmful to health and are also considered carcinogenic. A lot of microbes survive on the surface of conventional plastics. By using antimicrobial plastics, harmful micro-organisms can be kept away from human contact. Moreover, the growing adoption of antimicrobial plastics in various applications is expanding the demand for antimicrobial plastics. Furthermore, increasing the application of antimicrobial plastics in the medical and packaging industries is giving a boost to the growth of antimicrobial plastics market. The antimicrobial plastics can be used in the medical devices and equipment to keep them safe to use without causing any infection. However, strict environmental regulations are the major restraining factor for the growth of the antimicrobial plastics market. Nevertheless, the increasing investment in R&D to improve the properties of plastics is expected to offer lucrative opportunities for the key players in the antimicrobial plastics market.
In terms of region, North America generated the highest revenue for the antimicrobial plastics, dominating the global market. The largest market share of North America attributed to the increasing demand from the packaging and healthcare industry and rise in the health concerns among the consumers in this region. While Asia-Pacific registered the highest growth rate among the other regions owing to growing consumer goods and F&B industries and increasing investment in the healthcare sector in this region.
The report on global antimicrobial plastics market covers segments such as type and application. On the basis of type, the sub-markets include commodity plastic, engineering plastic, high performance plastic, and other types. On the basis of application, the sub-markets include packaging, healthcare, food and beverage, consumer goods, electrical and electronics, and other applications.
The report provides profiles of the companies in the market such as BASF SE, Dow Chemical Company, Covestro AG, Microban International, Ltd., PolyOne Corporation, Ticona Polymers Inc., Sanitized AG, Teknor Apex Company, Inc., Parx Plastics N.V., Momentive Performance Materials Inc., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of antimicrobial plastics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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