The antimicrobial plastics market is expected to register a CAGR of more than 7% during the forecast period. The major factors driving the market’s growth include the replacement of conventional materials by plastics in various applications and rapidly increasing demand from the healthcare and packaging sectors. However, stringent environmental regulations are expected to restrain the market’s growth.
- The healthcare industry dominated the market and is likely to witness growth during the forecast period. This is primarily due to increasing investments in the healthcare industry and increasing demand for medical tools and equipment.
- The increasing investments in R&D is likely to provide opportunities for the market studied during the forecast period.
- The Asia-Pacific region dominated the market, globally, owing to the various application in industries, such as packaging, healthcare, food and beverage, and consumer goods.
Key Market Trends
The Healthcare Industry is expected to Drive the Market's Growth
- The healthcare industry is the primary consumer of antimicrobial plastics. Antimicrobial plastics offer various advantages, such as cleanliness, sterility, convenience, ease of use, and low cost, over conventional materials in the healthcare industry.
- Complex epidemiological situation, healthcare-associated infections (HAIs), microbial contamination, nosocomial infections, and infection risks in hospitals and dental equipment are driving the need for prevention of microbial infections.
- The need for recycling disposable medical products provided innumerable opportunities for the development of antimicrobial solutions.
- Antimicrobial plastics are used in dental surgeries, hospitals, and care homes, primarily for products, such as cubicle curtains, beds, nurse call systems, handrails, floors, door handles, pull cords, and case note holders.
- In addition, antimicrobial plastics are used for manufacturing medical devices, such as tubing, connectors, syringes, and connectors, as well as a wide variety of molded parts.
- Thus, with the increasing healthcare-associated infections in healthcare industry, the usage of antimicrobial plastics is expected to increase significantly over the forecast period.
The Asia-Pacific Region is expected to Dominate the Market
- The Asia-Pacific region dominated the global market. With increasing production in industries, such as consumer goods, food and beverages, and automotive, the demand for antimicrobial plastics is expected to increase significantly.
- The Asia-Pacific healthcare industry has been witnessing huge investments in countries, such as India, Indonesia, South Korea, and Vietnam. The region has been focusing on developing its healthcare infrastructure, due to growing aging population and increasing medical spending in the region.
- The Asia-Pacific region has been witnessing numerous investments in the electronics industry, with growth in the production of electronics, especially in countries, such as China, India, South Korea, and Japan. This is expected to augment the demand for antimicrobial plastics, mainly for electronic applications.
- Moreover, the region is expected to witness the fastest growth in the global packaging industry, where countries, such as China and India, have been leading the market. Factors, such as e-commerce, online food deliveries, and innovation and development in the packaging industry are expected to drive the packaging industry’s growth in the region.
- Hence, all such market trends are expected to drive the demand for antimicrobial plastics during the forecast period.
The antimicrobial plastics market is fragmented, where numerous players account for insignificant market shares. This is expected to impact the market’s dynamics. Some of the noticeable market players include BASF SE, DuPont, Microban International, PolyOne Corporation, and Sanitized AG, among others.
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