Albany, NY -- (SBWire) -- 12/03/2018 --Antimicrobial plastics belong to a class of polymers that impede the growth of microorganisms owing to the presence of active antimicrobial agents on the polymer. Antimicrobial plastics inhibit the growth of microorganisms in a variety of products that they enclose or contain, thus playing a big role in extending the quality and shelf life of the products. Moreover, antimicrobial plastics help in curtailing infections and preventing illnesses by resisting the growth of disease-causing pathogens.

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Owing to their multifarious applications, antimicrobial plastics have witnessed a significant rise in demand in the past few years, especially in industries such as healthcare, packaging, and personal care. The trend is likely to remain strong in the near future as well, with their rising set of applications in the fields of biomedical devices and implants expected lead to a massive rise in growth opportunities for antimicrobial plastics. The U.S. market for antimicrobial plastics accounts for a large share in the global market and is one of the key contributors in terms of revenue as well as technological advancements owing to the vast research and development activities.

Transparency Market Research estimates that the U.S. antimicrobial plastics market will exhibit a 9.3% CAGR from 2014 to 2020, rising from a valuation of US$662.3 mn in 2013 to a revenue opportunity of nearly US$1,227 mn by 2020.

Healthcare to Remain Leading Application Segment for Antimicrobial Plastics in the U.S.

The report segments the U.S. market for antimicrobial plastics on the basis of application into electronic and consumer appliances, packaging, personal care, building and construction, healthcare, automotive, and other smaller applications such as waste bins and sportswear. Of these, the healthcare industry accounted for the dominant 44% share in the U.S. antimicrobial plastics market in 2013. Applications in the packaging and electronic and consumer appliances segments followed those in the healthcare sector in terms of revenue contribution to the overall market in the said year. The trend is also expected to remain strong over the next few years.

Factors such as increasing number of healthcare regulations and the rising awareness regarding the increased prevalence of hospital-acquired infections are expected to continue to fuel the demand for antimicrobial plastics in the U.S. healthcare sector. While the healthcare industry will continue to be the leading consumer of antimicrobial plastics in the U.S., applications across the personal care and packaging sectors are also expected to remain lucrative. The thriving personal care packaging sector, which includes the packaging of skin care and hair care products and cosmetics, coupled with the packaging of food and beverages and pharmaceuticals is expected to help ramp up the demand for antimicrobial plastics in the U.S.

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Focus on New Application Areas Could Benefit Companies Sustain in Fragmented Marketplace

The U.S. market for antimicrobial plastics features a largely fragmented competitive landscape owing to the large number of manufacturers in the country. The leading three companies in the market accounted collectively for merely over 35% of the overall market in 2013; the level of competition is intense and is expected to remain so in the near future as well. Moreover, the market bestows a low threat of forward as well as backward integration by antimicrobial plastic manufacturers as the market features a complex manufacturing environment and is highly capital intensive.

Companies in the market could benefit from the development of innovative product varieties and focus on business expansion across new and profitable application areas. For expansion in the personal care segment, expected to account for a vast share in the overall market through the forecast period, products that increase the shelf-life and aesthetic appeal of products, could fuel demand. Some of the leading companies in the market are AkzoNobel, The Dow Chemical Company, Sherwin-Williams, BASF, Bayer, DuPont and Lonza.