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Antimicrobial Plastics Market worth $59.8 billion by 2025 | Key players operating in the market include DuPont, BASF SE, Lonza Group, Avient Corp, Parx Plastics

09-24-2021 11:30 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Antimicrobial Plastic Market

Antimicrobial Plastic Market

According to recent market research "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", is projected to reach USD 59.8 billion by 2025 from USD 36.9 billion in 2020, at a CAGR of 10.1%. Antimicrobial plastics are polymer materials infused with antimicrobial agents and additives to kill microorganisms, such as bacteria, algae, and fungi, and inhibit their growth in end-use products. The continuous and repeated use of plastic materials causes issues related to hygiene, thereby increasing the risk of contamination and pathogenic diseases.

Browse 146 market data Tables and 34 Figures spread through 171 Pages and in-depth TOC on "Antimicrobial Plastics Market - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/antimicrobial-plastic-market-20591555.html

Commodity plastics are the most commonly used plastics across a wide range of applications. These plastics are used in applications where mechanical properties and service environments are not very critical. Some examples of commodity plastics are PE, PP, PS, PVC, PMMA, PET, and PUR. These plastics are produced in high volume at low cost for the most common disposable items and durable goods. The widespread applications, easy availability, and low-cost materials are the key factors driving the commodity plastics market.

The medical and healthcare application leads the antimicrobial plastics market owing to consumer awareness regarding health-related issues and life-threatening diseases such as H1N1, nosocomial infections, and COVID-19 in the recent past. As a result, 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. Surgical and medical devices such as catheters, cubicle curtains, beds, and dental implants are the other medical and healthcare applications of antimicrobial plastics.

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The antimicrobial plastics market is estimated to be USD 36.9 billion in 2020 and is expected to reach USD 59.8 billion by 2025, at a CAGR of 10.1% during the forecast period. Factors such as rising consumer awareness pertaining to the importance of antimicrobial plastics, rapid urbanization, growing population in APAC and South America, and increasing demand from the healthcare sector are driving the market.

Major 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).

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Parx Plastics (US) is one of the players in the antimicrobial plastics market. The company is focusing on enhancing its product portfolio by the launch of new products for various applications to expand its business. For instance, Parx Plastics announced the availability of two specific grade materials, LLDPE and PP.

Companies also adopted contract & agreement as a strategy to expand their market presence. For instance, in June 2015, King Plastic Corporation (US) entered into a license agreement with Gelest Inc. (US) for the use of Biosafe antimicrobial additive. The antimicrobial additive is bonded at the molecular level and does not lose its efficacy even during heavy abrasion occurring during its application. Similarly, Parx Plastics N.V. (Netherlands) entered into an agreement with Nexeo Solutions (US) for the distribution of its products containing antiseptic and antibacterial properties. This agreement helped the company in expanding its presence in Europe.

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