U.S. Antimicrobial Plastics Market for Electronic & Consumer Appliances, Personal Care, Packaging, Automotive, Building & Construction, Healthcare and Other Applications - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 12/18/2014 -- Owing to the increasing medical cases of nosocomial infections and widespread epidemic outbreaks of different life threatening diseases such as H1N1 in the recent past, worldwide, consumers awareness pertaining to the importance and use of antimicrobials plastics is growing tremendously. Today, antimicrobial plastics are finding its usage in a growing spectrum of industries, especially in the U.S industries. Although, the U.S. antimicrobial plastics market represents a small segment of the overall plastics additives market, demands coming from different sectors such as healthcare, medical devices, and utilities are continuing to be forerunners in the adoption of antimicrobial plastic products.
Uptrends in the Antimicrobial Plastics Market :
Antimicrobial plastics are broadly implemented in various industries including automotive, building and construction, healthcare, electronics, packaging and consumer goods, and also in other niche applications such as waste bins and lids and plastic water storage containers among many others. Use of antimicrobials in plastics can help curb down or kill the bacterial growth and other parasites in various industry products. There are many medium to large scale plastic manufacturers that are using antimicrobial additives in plastics and its related products such as bottles, food packaging and healthcare equipment to prevent illnesses and curtail infections in the environment.
Browse Full Report With ToC and Market Analysis :
The surge in the U.S. antimicrobial plastics market is primarily being driven by innovative coating technologies that have the capability to improve indoor air quality and inhibit the microbial growth of various harmful microorganisms such as bacteria and fungi on plastic packaging and medical devices. Growing awareness among global consumers regarding cleanliness, hygiene, and good health are also some of the key reasons driving high growth into the U.S. antimicrobial plastics market.
The U.S. antimicrobial plastics market is on track to reach US$1,227.4 million by 2020, rapidly expanding at a CAGR of 9.3% during the forecast period from 2014 to 2020, concludes a new market forecast in its latest market research report titled U.S. antimicrobial plastics market. According to this study report, the U.S. antimicrobial plastics market was valued at US$662.3 million in 2013 and in terms of volume, the market stood at a value of 100,062.1 tons in 2013.
Healthcare/Medical Sectors are Potential Key Drivers of the Antimicrobial Plastics Market :
Over the past few years, the market has witnessed a rapid boom in the demand for antimicrobials from the medical and healthcare sectors in the U.S. Antimicrobials in the plastics help reduce deterioration in turn increasing the lifespan of medical products. High-rate of hospital-acquired infections is projected to fuel growth into the market too. Also, growth in the medical devices market in the U.S. is likely to be one of the main key factors driving demand for antimicrobial plastics in the country over the forecast period 2014 – 2020. Moreover, product innovation and various developments in the medical and healthcare sectors are areas of focus of several manufacturers that is anticipated to open new opportunities for market growth.
Growth in the packaging market in the U.S. and rising demand for antimicrobial plastics in packaging is subsequently fueling high growth into the U.S. antimicrobial plastics market.
Among the varied application segments, healthcare accounted for approximately 44% of the market share in 2013 and was considered as the largest application segment in the same year. Furthermore, led by rising demand for antimicrobial solutions in the medical devices market, the healthcare segment is projected to be the fastest growing segment during the forecast period.
Additionally, personal care and packaging segments are also likely to witness average growth over the next six years. Owing to the high cost of the plastics, automotive and building and construction are some of the niche market segments of the U.S. antimicrobial plastics market.
Nevertheless, volatility in prices of raw materials is expected to hinder growth in the antimicrobial plastic market growth. This factor will adversely increase the overall costs of the existing plastic products and affect profit margins of manufacturers.
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