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CHEMICALS AND ADVANCED MATERIALS

Antimicrobial Plastics Market Analysis by Additive (Organic, and Inorganic); by Type (Commodity Plastics, Engineering Plastics, High-Performance Plastics, and Others); by Application (Bottle Manufacturing, Medical Equipment, Food Packaging, Coating, Consumer Goods, and Others); and by End-User (Electrical & Electronics, Medical & Healthcare, Packaging, Automotive, Building & Construction, Food & Beverage, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • 19th August, 2022: Covestro AG, Covestro invested in the production of more sustainable polycarbonates in the Asia Pacific. Through this investment, the Asia Pacific region is estimated to receive over 60,000 tons per year of recycled polycarbonates by 2026 from the region.

  • 1st February, 2022: SANITIZED AG, has introduced a new water-based product under the expansion of its Sanitized BroadtecTM product line: Sanitized PL 19-30. With BPR-compliant active ingredients, this product protects coatings against all significant microorganisms.

Global Antimicrobial Plastics Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Antimicrobial Plastics Market Regional Table

The global antimicrobial plastics market is estimated to garner a revenue of ~USD 92 Billion by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 42 Billion in the year 2021. The growth of the market is primarily attributed to the its rapidly growing demand in applications i.e., medical, and food and beverage packaging. As per a report published by the United States Environmental Protection Agency (EPA), the production of packaging and plastic containers reached about 14.5 million tons in 2018.

Antimicrobial Plastics Market Overview

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Antibacterial plastic is a form of plastic that contains the capability to kill or inhibit the growth of micro - organisms i.e., viruses, algae, molds, and bacteria that be able to contaminate the plastic. Furthermore, antimicrobial plastics are in high demand as they are long lasting, more hygienic to use, prevent bacterial growth, and provide stain and bad odor protection. Since this plastic is less expensive than usual plastic, thus it is used in a wide range of applications. The COVID-19 outbreak has influenced the global economy as well as different industry verticals too. The ever-increasing patients’ population caused by the pandemic outbreak, and awareness regarding hygiene in people, are increasing the demand for various medical equipment.  This is expected to escalate the demand for antimicrobial plastics in the healthcare sector. For instance, since the coronavirus (COVID-19) occurrence, approximately 885,000 more ventilators were needed worldwide in March 2020. Whereas, the United States had 77,000 ventilators short, while the five EU nations including Germany, France, Italy, and the United Kingdom were short of 76,000 ventilators.

Global Antimicrobial Plastics Market: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Rising Consumption of Bottled Drinking Water – As a result of increased travelling, sporting, and keeping the body hydration on a right point, the demand for bottled water has increased a lot. Bottled water is an important alternative to other packaged beverages, which are often less healthy. For instance, in 2020, Americans consumed approximately 16 billion gallons of bottled water, that denotes a 4% increase over 2019.

  • Rising Consumer Health Awareness - The next phase of consumer wellness and overall health is wellbeing. Now, state of health, wellness, and well-being is a broad spectrum. People are more aware regarding every single product they use. This is going same with the packaging materials of products as well.  

  • Growth in Textile Industry – As per the data, the global textile industry is predicted to grow at a rate of 4 to 6% per year for the upcoming few years and is estimated to be worth around USD 1.7 trillion.

  • Escalation in Beverage Industry - The beverage industry in the United States is estimated to be worth USD 145 billion by the mid of 2022. The beverage industry is in charge of producing several types of drinks and ready-to-drink (RTD) products. Bottled water, energy drinks, carbonated beverages, coffee, dairy and milk products, and nutritional beverages are examples of beverages which are leading the massive growth of this industry.

  • Upsurge in Urbanization – As per the United Nations, around 55% of the world’s total population was living in urban areas by the end of 2018, and this percentage is expected to rise to 68% by 2050.

Challenges

  • Stringent Laws of Government Over Plastic Use
  • Availability of Raw Materials for Antimicrobial Plastics
  • Instability in Raw Material Prices

The global antimicrobial plastics market is segmented and analyzed for demand and supply by end-user into electrical & electronics, medical & healthcare, packaging, automotive, building & construction, food & beverage, and others. Out of these, the medical & healthcare segment is anticipated to hold the largest share over the forecast period on the back of the growing health infrastructure, increasing occurrences of cardiovascular diseases, and rising aging population across the world which is leading the demand of various types of medical devices. Furthermore, a sudden rise in epidemic outbreaks such as COVID-19, H5N1 Avian influenza, and H1N1 Swine flu which demand intensive care and a significant effectiveness in medical devices against microbial growth is also a major factor to increase the growth of the segment over the forecast period. As per the data provided by the World Health Organization (WHO), as of August 2022, there had been 581.8 million confirmed COVID-19 cases and 6.4 million deaths worldwide.

Major Macro-Economic Indicators Impacting the Market Growth

Antimicrobial Plastics Market Regional Chart

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Antimicrobial Plastics Market Regional Synopsis

Regionally, the global antimicrobial plastics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 backed by the growth of major end-use industries such as packaging, automotive & transportation, healthcare, and beverage. Moreover, rising intake of packaged food items is also fueling up the growth of the market in the region. For instance, packaging consumption in India has surged around 202% over the last decade, from 4 kgs per person per annum (pppa) to 7 kgs pppa. With an annual growth rate of 27%, the industry is projected to reach USD 205.81 billion by 2025, up from USD 51 billion in 2019.

Antimicrobial Plastics Market Regional Synopsis

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The global antimicrobial plastics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global antimicrobial plastics market includes the following segments:

By Additive

  • Organic
  • Inorganic

By Type

  • Commodity Plastics
  • Engineering Plastics
  • High-Performance Plastics
  • Others

By Application

  • Bottle Manufacturing
  • Medical Equipment
  • Food Packaging
  • Coating
  • Consumer Goods
  • Others

By End-User

  • Electrical & Electronics
  • Medical & Healthcare
  • Packaging
  • Automotive
  • Building & Construction
  • Food & Beverage
  • Others

Top Featured Companies Dominating the Global Antimicrobial Plastics Market

  • Parx Materials NV

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Covestro AG
  • King Plastic Corporation
  • DuPont de Nemours, Inc.
  • Microban International, Ltd.
  • SANITIZED AG
  • Avient Corporation
  • Milliken & Company
  • Lonza Group Ltd.
  • Clariant International Ltd

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