The Worldwide Antimicrobial Plastics Industry is Expected to Reach $66.7 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Antimicrobial Plastics Market by Additive (Inorganic, Organic), Type (Commodity Plastics, Engineering Plastics, High-Performance Plastics), Application and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The antimicrobial plastics market is projected to reach USD 66.7 billion by 2026, at a CAGR of 10.8% from USD 40.0 billion in 2021.

Commodity plastics is estimated to be the type of antimicrobial plastics market between 2021 and 2026.

The overall antimicrobial commodity plastics market accounted for the largest share, in terms of value and volume, in 2020. The higher demand for commodity plastics is primarily attributed to its relatively low cost of production and its increasing use in various applications, such as consumer goods, packaging, and medical and healthcare. Commodity plastics are the most common plastics used in different application areas, mainly due to their cost and properties suitable for applications. On the other hand, high-performance plastics find application in specific segments, where the certain functionalities of plastics are required to sustain in extreme conditions.

Medical & Healthcare is estimated to be the largest application of antimicrobial plastics market in 2020.

The medical & healthcare segment is estimated to be the largest application of the antimicrobial plastics market during the forecast period owing to the heightened demand for antimicrobial plastics driven by growing consumer awareness about personal hygiene and health-related issues. Due to COVID-19 at the beginning of 2020, the awareness among manufacturers and consumers for the usage of antimicrobial plastics has increased. This has resulted in more demand for these plastics in different applications industries, specifically the medical and healthcare industry.

Asia Pacific is expected to be the largest antimicrobial plastics market during the forecast period, in terms of value.

Asia Pacific is the largest antimicrobial plastics market. The increasing population and rapid urbanization in key countries, such as China and India, contribute to the growth of the antimicrobial plastics market. The region is estimated to be the largest, owing to the emerging players in the region and burgeoning demand from industries such as packaging, consumer goods, and automotive. Although Asia Pacific is the largest market, mature and developed regions such as North America and Europe also account for a considerable share in the global antimicrobial plastics market. Factors such as awareness towards personal hygiene and stringent regulations drive the antimicrobial plastics market in North America and Europe.

Market Dynamics

Drivers

• Outbreak of Pandemic and Growing Awareness Pertaining to 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 Textile Industry

Companies Mentioned

• Addmaster Limited
• American Polyfilm Inc.
• Americhem Inc.
• Avient Corporation
• Basf Se
• Bayer Ag
• Biosafe Inc.
• Celanese Corporation
• Chroma Color Corporation
• Doeflex Vitapol
• Dupont De Nemours Inc.
• Highland Plastics Inc.
• Key Strengths/Right to Win
• King Plastic Corporation
• Microban International
• Milliken Chemical
• Parx Plastic N.V
• Polychem Alloy Inc.
• Porex Technologies
• Rtp Company
• Sanitized Ag
• Sciessent LLC
• Steritouch Ltd
• Strategic Choices Made
• Teknor Apex Company
• Valtris Specialty Chemicals

For more information about this report visit https://www.researchandmarkets.com/r/9oyjnz