(PharmaNewsWire.Com, May 15, 2024 ) The report "Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High Performance Plastics), Application (Packaging, Automotive, Medical & Healthcare, Consumer Goods), & Region - Global Forecast to 2028" the antimicrobial plastics market is estimated to grow from USD 41.7 billion in 2022 to USD 64.8 billion by 2028, at a CAGR of 7.7% during the forecast period.
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Based on additive, the antimicrobial plastics market is segmented inorgnaic (silver, zinc, copper) and organic (OBPA, triclosan). A new generation of packaging is active antimicrobial food packaging. To increase the shelf life of food goods, these antimicrobial chemicals are added to food packaging systems to prevent, slow down, or inactivate microbial development. Silver ion technology is used for incorporating these additives into standard film materials like polyethylene (PE), poly(ethylene terephthalate), polypropylene (PP), and others.
Based on type, the antimicrobial plastics market is segmented commodity plastics (PP, PE, PVC, PS, PMMA, PET and PUR), engineering plastics (ABS, PC, PA, POM, Others) and high performance plastics. The overall antimicrobial commodity plastics market accounted for the largest share, in terms of value and volume, in 2022. The high demand for commodity plastics is mainly due to its low cost and improved mechanical properties.
Based on application, the antimicrobial plastics market is segmented packaging, medical & healthcare, automotive, building & construction, consumer goods, and others. Medical & healthcare holds the largest market share, followed by packaging and consumer goods, in the overall antimicrobial plastics market. A bill to establish the National Bank for Financing Infrastructure and Development (NaBFID), a $2.5 billion development finance institution, was approved by Parliament in March 2021 in order to finance infrastructure projects in India. All these investments in the infrastructure activities is expected to drive the demand for antimicrobial plastics.
Based on region, Asia Pacific dominated the antimicrobial plastics market, both in terms of value and volume, in 2022. According to the National Investment Promotion & Facilitation Agency, by 2030 more that 40% population is expected to live in urban India, currently it is 33%. Also the increasing demand for automotive due to growth in middle-class population, rising expenditure and increased involved of OEMs in aftersales activities is fueling the demand for antimicrobial plastics in automotive application. Growing population, increasing awareness regarding the use of safe and hygienic products including personal care are also some of the major factors driving the demand for antimicrobial plastics in Asia Pacific. Antimicrobial Plastics Market Key Players
The key players profiled in the report include DuPont De Nemours, Inc. (US), BASF SE (Germany), Microban International (US), Sanitized AG (Germany), Biocote Limited (UK), Avient Corporation (US), and King Plastic Corporation (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.
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