New York, April 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antimicrobial Plastics Global Market Report 2023" - https://www.reportlinker.com/p06433529/?utm_source=GNW
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The global antimicrobial plastics market grew from $44.13 billion in 2022 to $48.99 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The antimicrobial plastics market is expected to grow to $72.96 billion in 2027 at a CAGR of 10.5%.
The antimicrobial plastics market consists of sales of polyamide, polybutylene terephthalate, polycarbonate, and PC/ABS blends.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The antimicrobial plastics refer to synthetic polymer material containing an integrated and active component that inhibits bacteria growth.Antimicrobials can inhibit or alter one or more of the following cell functions of microorganisms such as cell wall synthesis, protein synthesis, cell membrane functions and nucleic acid synthesis.
Antimicrobial plastics are used in healthcare to reduce the spread of microorganisms such as staph, strep, and methicillin-resistant staphylococcus aureus (MRSA) infections.
Asia-Pacific was the largest region in the antimicrobial plastics market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in antimicrobial plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of product of antimicrobial plastics includes commodity plastics, engineering plastics and high-performance plastics.The inorganic market consists of sales of antimicrobial plastics by entities (organizations, sole traders, and partnerships) that are used in petrochemical industries.
Inorganic antimicrobial plastics are an inorganic polymer that has a skeletal structure that lacks carbon atoms in the backbone.The main type of additive includes organic and inorganic.
The antimicrobial plastics are applied in refining & petrochemical, metals, power generation and others and used in building & construction, automotive & transportation, healthcare, packaging, food & beverage, textile, consumer goods and others.
The increasing penetration in food and beverages, packaging, and healthcare is expected to drive the growth of the antimicrobial plastics market going forward.Packaging for food and beverages using antimicrobial plastics provides protection, tamper resistance, and unique physical, chemical, or biological requirements for the food and beverages.
Widespread penetration of food and beverages, packaging, and healthcare in antimicrobial plastics is boosting the growth of the market. For instance, in December 2021, according to ETHealthWorld, the packaging industry in India is predicted to develop at a rate of 26.7 % going forward due to increased penetration of sustainable packaging in the healthcare industry. The rise in population, rising life expectancy, expanding health awareness about the environmental impact of traditional packaging, and the transition to new packaging standards are driving growth. Therefore, the increasing penetration in food and beverages, packaging, and healthcare is expected to propel the growth of the antimicrobial plastics market.
Product innovation is a key trend gaining popularity in the antimicrobial plastics market.Major market players are concentrating their efforts on creating innovative products such as Puretec.
For instance, in November 2021, Sanitized, a Switzerland-based company engaged in antimicrobial hygiene function and material protection for textiles and polymers launched puretec for enhanced antimicrobial performance.Sanitized Puretec product provides superior antibacterial performance across all fibre types.
Sanitized Puretec provides a one-of-a-kind solution for brands and retailers creating synthetic sportswear by allowing customers to wear their favorite items for longer periods of time before washing them. Offering long-lasting freshness on fabrics gives brands and sportswear users’ peace of mind.
In November 2021, DuPont, a US-based company engaged in manufacturing of technology-based materials and solutions that help transform industries and everyday life acquired Rogers Corporation for $5.2billion. With this acquisition, DuPont’s aims to expand its innovation and applied material science capabilities with Rogers technical competence and deep customer contacts. Rogers Corporation is a German-based company engaged in manufacturing engineered materials to power, protect and connect the world along with antimicrobial plastics.
The countries covered in the antimicrobial plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The antimicrobial plastics market research report is one of a series of new reports that provides antimicrobial plastics market statistics, including antimicrobial plastics industry global market size, regional shares, competitors with an antimicrobial plastics market share, detailed antimicrobial plastics market segments, market trends and opportunities, and any further data you may need to thrive in the antimicrobial plastics industry. This antimicrobial plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433529/?utm_source=GNW
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