Antimicrobial Plastics Market Size – USD 29.60 Billion in 2018, Market Growth - CAGR of 7.9%, Market Trends – Investments for research and development to explore newer sectors for application and launch of products with improved quality and durability.
New York, NY -- (SBWIRE) -- 01/14/2021 -- The Antimicrobial Plastics Market is set to attain a valuation of USD 53.56 Billion by 2026, registering a CAGR of 7.9 %. Antimicrobial plastics are a type of polymer material infused with antimicrobial agents that inhibit micro-organism growth, preventing the discoloration of undesirable odours and the degradation of plastics on the surface. It is a class of polymers with antimicrobial activity or the ability of micro-organisms to inhibit their development. The applications of antimicrobial plastics are widespread in several industries including packaging, consumer good, healthcare, building and construction, automotive, and water management
The Antimicrobial Plastics Market report profiles the following leading companies:
The overall Antimicrobial Plastics Market is highly consolidated, where a select number of companies dominate the total Market share. There are several companies that are investing heavily in the research and development of Antimicrobial Plastics . Some of the key players in the Antimicrobial Plastics Market are BioCote, Microban, Bayer Material Sciences, Clariant AG, Parx Plastics, BASF SE, Ticona Engineering Polymers and DuPont., and among others. These companies control a considerable portion of the total Antimicrobial Plastics Market share, thus limiting the number of newer entrants in the Antimicrobial Plastics sector.
This report covers the recent COVID-19 incidence and its impact on Antimicrobial Plastics Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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The Antimicrobial Plastics Market report examines the tactical approaches undertaken by each leading players, including product launches, partnerships, mergers & acquisitions, joint ventures, and collaborations, which have been extensively reviewed.
The major driving force for the development of the antimicrobial plastics market is the increasing demand for hygienic products in several industries. To improve the quality of life, new technologically advanced plastics are being introduced which are driving the market. These plastics are useful to maintain medical applications by reducing the risks of infections, food safety, freshness and overall hygiene. However, high raw material costs may hinder the market.
According to the report, Asia Pacific is expected to dominate the antimicrobial plastics market globally. This is due to the availability of abundant resources and cheap labour. Rising industrialization and increasing awareness about hygiene among people may boost the market in the region during the forecast period. North America region is the fastest-growing region due to the continuous research and development and technological advancements.
Key regions covered in the Antimicrobial Plastics Market report are:
Middle East and Africa
Market Segmentation –
The global Antimicrobial Plastics Market has been segmented on the basis of product types, applications, and leading regions. Based on applications, the global Antimicrobial Plastics Market is categorized into bakery & confectionery, foods & beverages, convenience & frozen foods, dairy & frozen desserts, and others. The global Antimicrobial Plastics Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market segment by Type, Antimicrobial Plastics can be split into
Type (Revenue, USD Million; 2020-2027)
High Performance Plastics
Application (Revenue, USD Million; 2020-2027)
Building and Construction
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The Antimicrobial Plastics Market report addresses the following questions:
What is the regulatory framework governing the application of Antimicrobial Plastics in the food industry?
What is the estimated growth rate of Antimicrobial Plastics for the forecast period from 2020 to 2027?
Which end-use industry is expected to have the highest demand for Antimicrobial Plastics by the year 2027?
Which manufacturing processes are utilized for the production of Antimicrobial Plastics ?
Which are the leading regions for Antimicrobial Plastics Market players that are aiming to expand their product portfolio?
The Antimicrobial Plastics Market report considers the following years to give Market estimations:
Historical Years: 2016 – 2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020 – 2027
Critical queries addressed in this Report –
What is the Market value expected to be in 2027?
At what rate will the industry grow in the forecast duration?
Which emerging trends are driving Market growth?
Which industry aspects will influence its future development?
What are the hurdles inhibiting the advancement of the industry?
Which participants account for a majority of the overall Market share?
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