Impact of COVID-19 on the Market & Growing Awareness for Usage

Impact of COVID-19 on the Market & Growing Awareness for Usage

Dublin, Oct. 20, 2020 (GLOBE NEWSWIRE) — The “Antimicrobial Plastics Market by Type (Commodity Plastics, Engineering Plastics, and High Performance Plastics), Application (Packaging, Automotive, Consumer Goods, Medical and Healthcare, and Building & Construction), Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The Antimicrobial Plastics Market Size is Estimated to Grow from USD 36.9 Billion in 2020 to USD 59.8 Billion by 2025, at a CAGR of 10.1%.

Consumer awareness about health-related issues is growing due to the increasing number of cases of nosocomial infections and epidemic outbreaks of life-threatening diseases such as H5N1 Avian influenza, H1N1 Swine flu, and COVID-19 in recent times. This has resulted in increasing demand from various sectors such as healthcare and medical for antimicrobial plastics due to their high antimicrobial activity, hardness, durability, and transparency. They are also used in non-toxic plastic equipment.

The growing demand for medical devices is likely to augment the market of antimicrobial plastics in the healthcare sector. However, volatile prices of raw materials and government regulations on the usage of plastics in certain applications are hindering the growth of the market.

The high performance plastics segment is expected to grow at the highest CAGR during the forecast period

The high performance plastics market is growing rapidly and is expected to continue to grow in the future owing to its increasing demand from various applications such as medical and healthcare, electronics, and automotive. The current market is backed by the high demand from APAC as well as improved regulations by regional environment associations and optimized performance of high performance plastics.

The medical and healthcare application segment is expected to hold the largest market share, in terms of volume and value, between 2020 and 2025

The medical and healthcare application leads the antimicrobial plastics market owing to consumer awareness pertaining to the use of antimicrobial plastics and incidences life-threatening diseases such as H1N1 and nosocomial infections in the recent past. Owing to the awareness, the importance of antimicrobial plastics in medical and healthcare application is expected to increase during the forecast period.

Moreover, innovation in the medical and healthcare application, for instance, the development of non-toxic plastic equipment is anticipated to fuel the growth of the antimicrobial plastics market. Other application areas of antimicrobial plastics in medical and healthcare application include surgical and medical devices such as catheters, cubicle curtains, beds, and dental implants.

APAC is expected to record the highest growth rate in the antimicrobial plastics market during the forecast period

APAC is the fastest-growing antimicrobial plastics market due to the rapid industrialization coupled with the growing plastics industry. The rising disposable income of consumers along with the changing lifestyle plays a significant role in boosting the growth of the antimicrobial plastics market. APAC consists of approximately 60.0% of the global population, which is expected to increase the demand for packaging, consumer goods, and electronic products.

Growing industrialization, backed by infrastructure development in the region, has offered enormous opportunities for the use of antimicrobial plastics in APAC. The increasing middle-class population in the region drives the antimicrobial plastics market. The growing demand and policies, such as emission control and use of environmentally-friendly products, have led to innovation in the plastics industry of the region, making it a plastics hub, globally. The growing population, along with industry alliances, is expected to lead to significant growth of the antimicrobial plastics market in the region.

The key market players profiled in the report include DuPont (US), BASF SE (Germany), Lonza Group (Switzerland), Avient Corporation (US), Microban International (US), Parx Plastics (Netherlands), King Plastic Corporation (US), BioCote (UK), Milliken Chemical (US) and Sanitized AG (Switzerland).

Market Dynamics

Drivers

  • Outbreak of Pandemic and Growing Awareness for Usage of Antimicrobial Plastics
  • Expansion of Various End-Use Industries

Restraints

  • Volatility in Raw Material Prices
  • Government Regulations on Usage of Plastics in Certain Applications

Opportunities

  • Growth of the Textile Industry
  • Porter’s Five Forces Analysis

Supply Chain Analysis

  • Raw Material
  • Plastic Manufacturers
  • Compounders and Molders
  • Distribution Network
  • End-Use Industry

Shift in Revenue Streams Due to Megatrends in End-Use Industries

Connected Market: Ecosystem

Case Study

Average Selling Price (Usd/Kg)

Patents

Macroeconomic Indicators

Companies Featured

  • Addmaster Limited
  • Agion Technologies Inc.
  • Akcros Chemical
  • American Polyfilm Inc.
  • Americhem Inc.
  • Avient Corporation
  • BASF Se
  • Biocote
  • Biosafe Inc.
  • Doeflex Vitapol
  • Dupont De Nemours, Inc.
  • Highland Plastics Inc.
  • King Plastic Corporation
  • Lonza Group Ag
  • Microban International Ltd.
  • Milliken Chemical
  • Parx Plastics N.V.
  • Plastics Color Corporation
  • Polychem Alloy Inc.
  • Porex Technologies
  • RTP Company
  • Sanitized Ag
  • Teknor Apex Company

For more information about this report visit https://www.researchandmarkets.com/r/pmzua6

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