The Global Antimicrobial Plastics Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Antimicrobial Plastics market is segmented by Product type (Commodity Plastics, Engineering Plastics, High-performance Plastics); Application (Healthcare, Packaging, Food And Beverage, Construction, Automotive and Transportation and Others); Geography (North America, Europe, APAC and ROW).
Introduction
The antimicrobial plastics offer excellent protection against fungi, mold, biofilm, and bacteria. The lifetime of the product can be increased without altering the appearance of the end product. The antimicrobial plastic is made from a synthetic polymer material.
The major factors driving the market’s growth include the replacement of conventional materials by plastics in various applications and rapidly increasing demand from the healthcare and packaging sectors.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global antimicrobial plastics market is expected to grow to $ 63.00 billion by 2025
Growth momentum is expected to accelerate during the forecast period with 10.41% CAGR
The increasing penetration in food and beverages, packaging, and healthcare end-use industry is expected to be the major drivers of the market over the forecast period.
APAC is a prominent regional market due to growing demand for antimicrobial plastic from the healthcare and packaging sector, especially in countries such as India, China, and Japan.
Key Trends
Key Market Players
Increasing demand from textile industry is expected to boost the growth of the market.
The increasing investments in R&D is likely to provide opportunities for the market studied during the forecast period.
Growth Drivers and Challenges
Increasing investments in the healthcare industry and increasing demand for medical tools and equipment. are anticipated to drive the market demand
Growing demand for alternative to synthetic polymer material is driving the demand.
Outbreak of pandemic and growing awareness about usage of antimicrobial plastics is driving the market.
The volatility in raw material prices is expected to create setbacks for the growth of the global antimicrobial plastics market
Strict regulations from government are limiting the usage of enzymes.
High manufacturing is hampering the market growth.