Antimicrobial Plastics Market Size, Share, Value Chain and Outlook 2032

According to Fortune Business Insights, The global antimicrobial plastics market size was valued at USD 43.94 billion in 2023 and is projected to grow from USD 46.98 billion in 2024 to USD 85.43 billion by 2032, exhibiting a CAGR of 7.7% during the forecast period. Asia Pacific dominated the antimicrobial plastics market with a market share of 44.54% in 2023.

Antimicrobial agents are incorporated into plastic products to boost their functionality. These additives play a vital role in decreasing the growth of harmful microbes, such as algae, bacteria, yeast, and fungi. Plastics that are fused with antimicrobial additives have showcased better performance than conventional plastics. The antimicrobial and anti-mold properties of these plastics can enhance the hygiene and lifespan of various products, such as medical equipment, packaging films, kitchen utensils, and kids’ toys. These properties are expected to boost the antimicrobial plastics market growth.

Fortune Business Insights™ displays this information in a report titled, "Antimicrobial Plastics Market, 2024-2032."

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LIST OF KEY COMPANIES PROFILED IN THE REPORT

• BASF SE (Germany)

• LyondellBasell Industries Holdings B.V. (Netherlands)

• DuPont de Nemours, Inc. (U.S.)

• INEOS Group Limited (U.K.)

• Avient Corporation (U.S.)

• SABIC (Saudi Arabia)

• Palram Industries Ltd. (Israel)

• RTP Company (U.S.)

• Microban International, Ltd. (U.S.)

• King Plastic Corporation (U.S.)

Segmentation:

Rising Demand for Silver-based Additives to Increase Adoption of Inorganic Additives

Based on additive, the market is divided into inorganic and organic. Inorganic additives captured the largest antimicrobial plastics market share in 2022 as silver-based inorganic additives are being widely used in the packaging industry due to their antimicrobial and antibacterial properties.

Expansion of Packaging Industry to Boost Usage of Commodity Plastics

Based on type, the market is segmented into commodity plastics, engineering plastics, and high-performance plastics. The commodity plastics segment is predicted to dominate the market during the forecast period as these plastics are finding robust use in the ever-expanding packaging industry. They are used for a wide range of packaging applications, such as physical photographs, electronics, and pharmaceuticals.

Medical & Healthcare to Increase Reliance on Microbe-Resistant Plastics to Prevent Cross-Contamination

Based on application, the market is bifurcated into medical & healthcare, packaging, consumer goods, automotive, building & construction, and others. The medical & healthcare application segment is predicted to hold a major market share as these plastics reduce the risk of cross-contamination by preventing the growth of harmful microbes on the surface of medical devices.

With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report analyzes the market in detail and highlights key aspects, such as additive, type, application, and leading organizations. It also offers quantitative information in terms of value, research methodology for market size estimation, and insights into ongoing market trends. It covers top industry developments and the competitive landscape. Apart from the above-mentioned factors, the report covers various factors that have contributed to the market’s growth in recent years.

Drivers and Restraints:

Growing Use of Antimicrobial Plastics in the Building & Construction Sector to Boost Market Development

Antimicrobial plastics have seen a robust increase in their demand in recent years as more people are becoming conscious about their hygiene and cleanliness practices. Since various harmful bacteria and germs can grow in wall ceilings and home furniture, the need for these plastics has grown tremendously. Manufacturers are using antimicrobial coatings to inhibit the growth of these harmful microbes. This factor is expected to drive the market share.

However, stringent anti-plastic laws by governments may stifle the market’s growth.

Regional Insights:

Asia Pacific Market to Record Considerable Growth Due to Expansion of Packaging Industry

The Asia Pacific market is expected to register commendable growth in the global industry in the future as the region’s packaging industry is witnessing notable expansion. Since China has captured the largest market share due to a strong rise in plastic usage, the regional market will continue to grow in the future.

The North America market will also record notable growth during the forecast period as the region’s healthcare and consumer goods industries are growing at an appreciable pace.

Competitive Landscape:

Key Companies Might Offer Products to Different Industries to Boost Their Market Position

BASF SE, Inc, LyondellBasell Industries Holdings B.V., DuPont de Nemours, INEOS Group Limited, and Avient Corporation, are the key market players. Among them, BASF SE has a strong presence in Europe and makes antimicrobial plastics. The company is said to be the region's largest producer of advanced raw materials and specialty chemicals. The other key players have also established robust distribution channels, a strong regional presence, and expanded their product offerings.

Information Source: https://www.fortunebusinessinsights.com/antimicrobial-plastics-market-107635

Notable Industry Development:

• February 2023- Microban International has launched a series of antimicrobial functions by introducing Microguard technology. This technology aims to bring antifungal properties to PVC, PU, and EVA plastics by preventing degradation and extending the product's life span.

• December 2021- Palram India Pvt. Ltd., a subsidiary of Palram Industries Israel, signed an agreement to acquire a 100% stake in Tuflite Polymers Limited, a major polycarbonate product supplier. This acquisition aimed to achieve India's vast market presence and growth potential to increase its bottom line.