The antimicrobial plastic market is projected to grow at a CAGR of 7.74% during the forecast period. The market size is expected to be US$18.404 billion by 2023 from US$11.765 billion in 2017. Antimicrobial plastic is a type of polymer material infused with antimicrobial agents that inhibit the growth of microorganisms, thus helping to prevent unpleasant odors, discoloration, and surface degradation of plastic parts. Increasing awareness among consumers related to plastic related health conditions is one of the main factors driving the growth of antimicrobial plastics. Increasing demand for these plastics from the healthcare sector on account of growing number of cases related to immune system suppression, chronic bronchitis, skin diseases, and birth defects is driving the growth of the antimicrobial plastic market. Rapid urbanization and burgeoning population in Asia-Pacific and South American regions are other drivers that are further boosting the market. Geographically, Asia Pacific region is expected to grow at the highest rate owing to growing health-related concerns among population and improvement in the standard of living. The market is expected to grow at an impressive rate over the forecast period owing to its increasing usage in a number of industries such as packaging, construction, consumer goods and etc. Conversely, stringent regulations and volatility in raw material prices are the major factors restraining the growth of the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the antimicrobial plastic value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Key industry players profiled as part of this section are Milliken Chemical, The DOW Chemical Company, Microban International, and Clariant among others.
The antimicrobial plastic market has been segmented on the basis of end-user, industry vertical, and geography.
By Industry Vertical
Middle East and Africa