Table of Contents

Antimicrobial Plastics Market Poised to Grow

The Global antimicrobial plastics market is estimated to be valued at US$ 37.35 Bn in 2024.

Antimicrobial plastics are polymer materials that are engineered to inhibit the growth of microorganisms like bacteria, fungi, mold, and yeast. These plastics incorporate antimicrobial additives that prevent microbial adhesion and proliferation on plastic surfaces. The growing demand for antimicrobial packaging from food and healthcare industries is a key factor driving the need for antimicrobial plastics. They help maintain product hygiene, safety and extend shelf-life. Antimicrobial plastics are increasingly being used in medical equipment like surgical devices, medical equipment, and dental tools. Their ability to curb hospital-acquired infections make them appealing for use in healthcare facilities.

The Global antimicrobial plastics market is estimated to be valued at US$ 37.35 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the antimicrobial plastics market are F. Hoffmann-La Roche Ltd, Biocryst Pharmaceuticals Inc., Bristol-Myers Squibb Company, Kyowa Kirin Co., Ltd., Genmab A/S, Seagen Inc., GlaxoSmithKline plc., Johnson and Johnson Private Limited, Elorac, Acrotech Biopharma, Merck and Co. Inc., Novartis AG, SHIONOGI & Co., Ltd., Spectrum Pharmaceuticals Inc., and Bausch Health Companies Inc. The increasing outbreaks of hospital-acquired infections and rising healthcare expenditure present significant growth opportunities in the market. Major market players are focusing on expanding their product offerings and global footprint in high growth markets like North America, Asia Pacific and Europe through partnerships, mergers and acquisitions.
Rising demand for Antimicrobial Plastics Market Demand from the healthcare industry coupled with stringent regulations regarding use of plastics with anti-microbial properties are major market drivers. However, availability of alternative materials and volatile raw material costs pose challenges to market growth.
Market Drivers:
The healthcare industry’s growing demand for products made with antimicrobial plastics to curb infection rates in hospitals and clinics is a major market driver. Stringent government regulations related to use of plastics with antimicrobial properties in food packaging and medical devices are also propelling market expansion.
Market Restraints:
The availability of alternative materials like silicon, glass and antimicrobial coatings presents competition to antimicrobial plastics. Furthermore, fluctuating costs of raw materials like biocides needed for synthesis of these plastics can hinder market potential.
Segment Analysis
The antimicrobial plastics market is dominated by the commodity plastics sub segment. Commodity plastics account for over 55% of the market share as they are widely used in end use industries like packaging, consumer goods, healthcare, food and beverages. Commodity plastics have good antimicrobial properties and are cost effective. They are preferred for applications that require basic antimicrobial functionality at low costs.
The medical plastics sub segment is the fastest growing segment, expanding at a CAGR of over 12% during the forecast period. Increased demand for antimicrobial medical plastics from the healthcare industry is driving the growth of this segment. Medical devices, implants and equipment used in healthcare settings require strong antimicrobial properties to prevent hospital acquired infections. Medical grade plastics with advanced antimicrobial additives are increasingly being used to manufacture devices that come in contact with the human body.
Regional Analysis
North America accounts for the largest share of around 35% of the global antimicrobial plastics market. Stringent regulations regarding food safety and healthcare associated infections in the region are promoting the use of antimicrobial plastics. The United States represents the major market in North America due to high demand from the packaging and healthcare sectors.
Asia Pacific is projected to be the fastest growing region during the forecast period driven by China, India and other developing countries. Improving healthcare infrastructure, rising incomes, expanding manufacturing industry and increasing focus on food safety are fueling the demand for antimicrobial plastics in the region. Emerging economies provide considerable growth opportunities for medical grade antimicrobial plastics due to rapid establishment of healthcare facilities.

Get more insights on  Antimicrobial Plastics Market

Blog Tags
Blog Category

Leave a Reply