Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Antimicrobial Plastics Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
In a market characterized by dynamic growth, leading industry players such as DuPont De Nemours Inc., BASF SE, and Microban International are driving the remarkable expansion of the antimicrobial plastics sector. The global antimicrobial plastics market has surged from $44.13 billion in 2022 to $48.99 billion in 2023, representing an impressive compound annual growth rate (CAGR) of 11.0%.
Amidst a complex global landscape, the impact of the Russia-Ukraine war has introduced uncertainties to the global economic recovery from the COVID-19 pandemic, particularly in the short term. This ongoing conflict has triggered economic sanctions, fluctuations in commodity prices, and disruptions in supply chains, resulting in inflationary pressures across various sectors and markets worldwide.
Notwithstanding these challenges, the antimicrobial plastics market is primed to maintain its upward trajectory, with projections indicating a valuation of $72.96 billion by 2027, accompanied by a CAGR of 10.5%.
Diverse Range of Materials Driving Market Momentum
The antimicrobial plastics market encompasses a range of materials including polyamide, polybutylene terephthalate, polycarbonate, and PC/ABS blends. These materials contribute to the creation of antimicrobial plastics that offer enhanced protection against harmful microbes. The market values provided in this report reflect the 'factory gate' values, which encompass the worth of goods sold by manufacturers to downstream entities or end customers. These values also incorporate related services offered by the creators of these goods.
Global Market Analysis and Trends
In 2022, Asia-Pacific emerged as the largest region in the antimicrobial plastics market, while North America is poised to emerge as the fastest-growing region during the forecast period. The comprehensive market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, offering comprehensive insights into diverse global markets.
Product Types and Market Applications
The antimicrobial plastics market offers a range of product types including commodity plastics, engineering plastics, and high-performance plastics. Within the inorganic market segment, antimicrobial plastics play a significant role in the petrochemical industries. Inorganic antimicrobial plastics are characterized by their inorganic polymer structure that lacks carbon atoms in the backbone.
These antimicrobial plastics find applications across various sectors including refining & petrochemical, metals, power generation, building & construction, automotive & transportation, healthcare, packaging, food & beverage, textile, consumer goods, and more.
Driving Forces: Penetration in Food, Beverage, Packaging, and Healthcare
The rising adoption of antimicrobial plastics in food and beverage packaging, as well as healthcare settings, is expected to fuel the market's growth. With attributes such as protection, tamper resistance, and meeting unique physical and chemical requirements, antimicrobial plastics are becoming essential in food and beverage packaging. The growth is further evidenced by the packaging industry in India, projected to grow at 26.7% due to the increased penetration of sustainable packaging in the healthcare sector.
Collaboration and Innovation at the Forefront
Innovation is a driving trend in the antimicrobial plastics market, with major players focusing on creating inventive solutions. An example of this trend is the product "Puretec," introduced by Sanitized in November 2021. This Swiss company unveiled Sanitized Puretec, an innovative product offering superior antibacterial performance across all fiber types. The product enables users to wear sportswear items for extended periods before washing, combining long-lasting freshness with convenience.
Collaborations are also shaping the market landscape, as seen in the acquisition of Rogers Corporation by DuPont in November 2021. This strategic move enhances DuPont's innovation capabilities and applied material science expertise, driving progress in the antimicrobial plastics sector.
Global Reach and Market Insights
Covering a diverse range of countries including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, the antimicrobial plastics market report provides comprehensive insights necessary for success in this dynamic industry.
Unlocking the Antimicrobial Plastics Market Potential
The "Antimicrobial Plastics Global Market Report 2023" is a strategic tool that empowers decision-makers with vital information to navigate trends and challenges in this thriving market over the next decade and beyond.
Reasons to Choose "Antimicrobial Plastics Global Market Report 2023"
- Gain insights into global market trends across 50+ geographies
- Understand the market's COVID-19 impact and response
- Assess the Russia-Ukraine conflict's effects on commodity supply and market dynamics
- Measure the impact of global inflation on market growth
- Develop regional and country strategies based on local data and analysis
- Identify high-potential growth segments for strategic investment
- Outperform competitors with informed decision-making backed by forecast data
- Benchmark performance against key competitors
- Leverage reliable, high-quality data and analysis for internal and external presentations.
A selection of companies mentioned in this report includes
- DuPont De Nemours Inc.
- BASF SE
- Microban International
- Sanitized AG
- BioCote
- Avient Corporation
- King Plastic Corporation
- Milliken Chemical
- Parx Plastics N.V.
For more information about this report visit https://www.researchandmarkets.com/r/w43pxg
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