Antimicrobial Plastic Market to be Worth $73.7 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Oct. 31, 2022 /PRNewswire/ -- The global antimicrobial plastic market size is expected to reach USD 73.7 billion by 2030, according to a report by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.8% from 2022 to 2030. The growing demand for products from packaging, healthcare, consumer products, and some other industries is expected to drive the market. Moreover, the growing complex epidemiological situations, such as COVID-19, microbial contamination, hospital-acquired infections, and healthcare-associated infections (HCAIs), are expected to fuel the growth of the market.

Key Industry Insights & Findings from the report:

• The global market is expected to witness significant growth in the forecast period owing to rising product demand from the end-use industries including packaging and healthcare.

• Asia Pacific is expected to witness the fastest growth during the forecast period due to the growth of the main end-use industries, such as healthcare, food & beverages, construction, packaging, automotive, and transportation. It is expected that the powerful production base of the automobile and transport industry in China, India, and Japan, combined with the increase in the sale of passenger cars, will contribute to the growth of the market in the region in the future. In addition, it is expected that favorable policies, such as foreign direct investment (DII) and "Made in India", implemented by the Indian government will create ample opportunities for the growth of the automobile and transport industry, which, in turn, will increase the consumption of antimicrobial plastics in cars and vehicles.

• Rapidly growing e-commerce, online food deliveries, and innovation and development in the packaging industry industries in APAC are also fueling the product demand in the regional market.

Read 140-page full market research report, "Antimicrobial Plastic Market Size, Share & Trends Analysis Report By Product (Commodity Plastics, Engineering Plastics, High-performance Plastics), By End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Antimicrobial Plastic Market Growth & Trends

The healthcare segment has shown high penetration rates and it accounted for the majority of revenue share in 2021. This can be explained by the strong demand for antimicrobial plastics for the production of sterilized and infection-preventing products such as surgical cables, tubes, and orthopedic sutures. In addition, growing consumer health awareness, an increase in the elderly population in countries such as Japan, China, and the United States, and growing demand for high-quality medical equipment are expected to drive the market.

Companies in the market compete based on the quality of the products they offer and the technology used to produce antimicrobial plastics. Major players are engaging in mergers and acquisitions, expanding their manufacturing capacity, developing infrastructure, investing in R&D centers, and looking for vertical integration opportunities along the entire value chain. These initiatives help them meet growing global demand, stay competitive, improve sales and operations planning, develop innovative products and technologies, reduce manufacturing costs, and expand their customer base.

In February 2021, Sanitized AG introduced a new product to its existing BroadTect portfolio. This product provides protection to polymers against a wide range of microorganisms including gram-positive and gram-negative bacteria, mold and mildew, yeasts, and algae. It has higher temperature resistance and is suitable for thermoplastic processing methods such as extrusion and injection molding and thermoplastic polymers such as polyethylene (PE), polypropylene (PP), thermoplastic polyurethane (TPU), ethylene-vinyl acetate (EVA), polyvinyl chloride (PVC), and rubber.

Similarly, in March 2020, Covalon Technologies Ltd. formulated a new antimicrobial technology "CovaGuard" to kill coronavirus and other viruses and pathogens present on the surface of the polymers by using active antiviral and antimicrobial agents. This technology is capable of trapping, deactivating, and killing viruses over an extended period. This new technology will help in reducing the spread of coronavirus; protecting first responders, healthcare workers, and patients; and strengthening the company's position in the healthcare industry.

Antimicrobial Plastic Market Segmentation

Grand View Research has segmented the global antimicrobial plastic market on the basis of product, end-use, and region

Antimicrobial Plastic Market - Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Commodity Plastics
• Polyethylene (PE)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polystyrene (PS)
• Acrylonitrile Butadiene Systems (ABS)
• Polyethylene Terephthalate (PET
• Engineering Plastics
• Polyamide (PA)
• Polycarbonate (PC)
• Thermoplastic polyurethane (TPU)
• Others
• High-performance Plastics

Antimicrobial Plastic Market - End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• Building & Construction
• Automotive &Transportation
• Healthcare
• Packaging
• Food & Beverage
• Textile
• Consumer Goods
• Others

Antimicrobial Plastic Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Asia Pacific
• China
• India
• Japan
• Central and South America
• Brazil
• Argentina
• Middle East and Africa
• GCC Countries
• South Africa

List of Key Players in Antimicrobial Plastic Market

• BASF SE
• Parx Materials N.V.
• Ray Products Company Inc.
• COVESTRO AG
• King Plastic Corporation
• Palram Industries Ltd.
• Clariant AG
• SANITIZED AG
• RTP Company
• Lonza
• INEOS Styrolution Group GmbH
• Milliken Chemical
• BioCote Limited
• Microban International
• DuPont de Nemours, Inc.

Check out more related studies published by Grand View Research:

• Antimicrobial Coatings Market - The global antimicrobial coatings market size is anticipated to reach USD 28.4 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 13.8%, over the forecast period. Increasing concern among consumers and various manufacturers about cleaning and prevention against the growth of bacteria, mold, and fungi is expected to drive the overall market growth. The demand for antimicrobial coatings is expected to increase majorly in the medical devices and packaging application industry owing to arise in demand to tackle the COVID-19 pandemic situation around the world.
• Antimicrobial Additives Market - The global antimicrobial additives market size is expected to reach USD 4.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.6% from 2022 to 2030. The demand is ascending at a prominent rate owing to increasing product consumption in medical devices & equipment and other end-use industries, such as packaging, food & beverage, healthcare, personal care, and electronic goods. They are majorly utilized to enhance the physical as well as chemical properties, increase shelf life & aesthetic value of materials, and minimize the risk of microbes, such as MRSA and legionella.
• Antimicrobial Nanocoatings Market - The global antimicrobial nanocoatings market size is anticipated to reach USD 717.9 million by 2027, expanding at a CAGR of 22.2% over the forecast period, according to a new report by Grand View Research, Inc., The market is expected to witness significant growth over the forecast period owing to increasing product demand from end-use industry industries. In the past few years, there has been a significant growth in application and technologies for use of antimicrobial nanocoatings, which have enabled manufacturers to cater to specific requirements from several end-use industry industries such as automotive, building and construction, and packaging.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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