Updated on : August 23, 2023
The global antimicrobial plastics market was valued at USD 41.7 billion in 2022 and is projected to reach USD 64.8 billion by 2028, growing at a cagr 7.7% from 2023 to 2028. Packaging industry is one of the major consumer of antimicrobial plastics, especially for food packaging application. This growth is due to the emergence of e-commerce platforms. Packaging has become a necessity for marketing to attract customers. In 2021, the US Food and Drug Administration (FDA) has issued a final rule which allows the use of certain antimicrobial substances in food contact surface materials, including plastics.
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According to Centers for Medicare & Medicaid Services (CMS) the National Health Expenditures (NHE) and Gross Domestic Product (GDP) of US are projected to grow 5.1% annually up to 2030. However, the NHE patterns are pointedly influenced by the COVID-19 pandemic. In addition, even with social distancing, facemasks, and strict hygiene measures, it is nearly impossible to keep every surface sanitized. Hence, there is a need for self-cleansing property to neutralize the surface from contaminant pathogens and reduce the risk of possible spread. Hence, the awareness of antimicrobial plastics has increased, so there is a strong demand for antimicrobial plastics in various applications.
Plastic is a petrochemical-based material, which is mainly obtained from natural gas and oil; volatility in the prices of these resources affects the price of plastic products. Manufacturers of antimicrobial plastics find it difficult to innovate new products due to price fluctuation, thus impacting their operating profits. There are also cost pressures from customers, and the end-users have to adjust between the cost and performance tradeoff, thereby affecting the performance of final products and their profit margins.
From fiber, yarn, and fabric to garments, global textile and apparel industry has strengths along the whole value chain. India and China are one of the largest textile market across the globe. The traditional handloom, handicrafts, wool, and silk items, as well as the organised textile industry in India, make up a large portion of the widely diversified Indian textile and apparel market. With the advancement of nanotechnology in textile manufacturing, antimicrobials can be implemented in various technical and non-technical textiles. This is expected to create new opportunities for the antimicrobial plastics and additives market in textile industry.
Antimicrobial plastics are made of thermoplastics, which is hazardous to the environment. Currently, the recycling rate of plastics worldwide is very low compared to its production; as a result, poor disposal of plastics is done, which is harmful to the environment. This causes slow decomposition, thus creating microplastics and further causing leaking in the ecosystem. Considering these issues, many countries have banned the use of plastics, promoting environmental awareness and limited consumption. Even the biodegradable plastics are biodegradable, they still need to be properly disposed of, as they can release harmful chemicals and pollutants if not treated appropriately. Additionally, there are concerns about the impact of biodegradable plastics on the environment cycle, as they can affect nutrient availability and soil microorganisms
Prominent companies in this market include well-established, financially stable manufacturers of antimicrobial plastics. These companies have been in business for a while and have a broad range of products, cutting-edge technologies, and robust international sales and marketing networks. Prominent companies in this market 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).
Inorganic additive are expected to dominate the antimicrobial plastics market during the forecast period. This is majorly due to their advanced properties. Also the increasing demand from major end-use industries including healthcare, packaging, automotive and building & construction is expected to fuel the demand for inorganic additive in antimicrobial plastics market.
Commodity plastics are the in large quantities for a variety of applications. They are used in applications where mechanical properties and service environments are not critical. PE, PP, PS, PVC, PMMA, PET, and PUR are some of the most common used commodity plastics considered for the study. Commodity plastics are manufactured in large quantities and are low cost for the most common disposable items and durable goods such as food containers, lids, packaging films, and trash containers. The extensive applications, easy availability, and low-cost materials are the key factors driving the commodity plastics market.
The medical & healthcare segment led the antimicrobial plastics market due to the rising spread of life-threatening diseases such as H1N1, nosocomial infections, COVID-19, and other health-related issues.. Innovation in the healthcare industry, for instance, the development of non-toxic plastic equipment, is anticipated to fuel the antimicrobial plastics market. Antimicrobial plastics are used in surgical and medical devices including catheters, cubicle curtains, beds, and dental implants.
The antimicrobial plastics market in Asia Pacific is led by the medical & healthcare and automotive segment mainly due to the rising awareness about the use of antimicrobial plastics in vehicles and medical devices to decrease the prevalence of infections. Mobility requirements for people and commodities have expanded in Asian nations due to rapid urbanization, economic success, and a growing population. Despite increased passenger travel anticipated, few people own cars. Because of this imbalance, automotive service providers now have a huge advantage in the Asia Pacific market, which is predominantly dominated by a young population. This demand for new and advanced vehicles is expected to drive the market for antimicrobial plastics in Asia Pacific region.
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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) among others, are the key manufacturers that secured major market share in the last few years. Major focus was given to the contracts and new product development due to the changing requirements of commercial, homeland security and defense & space users across the world.
Report Metric
Details
Market Size Value in 2022
USD 41.7 billion
Revenue Forecast in 2028
USD 64.8 billion
CAGR
7.7%
Years considered for the study
2017–2028
Base year considered
2022
Forecast period
2023–2028
Units considered
Volume (Kiloton) and Value (USD Million/Billion)
Segments covered
Additive, Type, Application, and Region
Regions covered
Asia Pacific, North America, Europe, Middle East & Africa, and South America
Companies profiled
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).
This report categorizes the global antimicrobial plastics market based on additive, type, application, and region.
What are the major developments impacting the market?
The demand for plastics in automotive is expected to shift market trends.
Who are major players in antimicrobial plastics market?
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).
What is the emerging application of antimicrobial plastics?
Consumer goods and sports is the emerging application for antimicrobial plastics market during the forecast period.
What are the various strategies key players are focusing within antimicrobial plastics market?
Key players are majorly focused on new product launch and partnering with local or regional players within the market, in order to attract larger market share globally.
What are the major factors restraining antimicrobial plastics market growth during the forecast period?
Government regulations and ban on the use of plastic in certain countries and disposal of plastics are some of the major restraints for the market. .
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