Medical Biopolymer-Based Plastics Is Fastest Growing Segment Fueling The Growth Of Antimicrobial Plastics Market

https://www.coherentmarketinsights.com/market-insight/antimicrobial-plastics-market-6087
Antimicrobial Plastics Market 



Market Overview:

Antimicrobial plastics products help prevent the growth of microbes such as bacteria, viruses, mold and mildew. They are extensively used across healthcare, packaging, food and beverage industries. Plastics containing antimicrobial agents in their composition provide long lasting protection and are easy to clean.

Market key trends:
Growing demand for medical biopolymer-based plastics from the healthcare industry is a major trend fueling growth of the antimicrobial plastics market. Biopolymers provide inherent antimicrobial properties and are increasingly replacing traditional petroleum-based plastics in medical applications like surgical instruments, implants and contact lenses. They exhibit high strength, flexibility and biodegradability. Increased investments by manufacturers in development of innovative blends of biopolymers integrated with silver and zinc-based antimicrobial additives will further drive the medical biopolymer plastics segment over the forecast period.

The global Antimicrobial Plastics Market Demand is estimated to be valued at US$ 32.42 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The global antimicrobial plastics market is dominated by the commode, bathroom, and kitchen fixtures & products segment. This segment accounted for over 35% of the overall market share in 2023 due to the extensive use of antimicrobial plastics in manufacturing various bathroom fittings such as commodes, sinks, bathtubs, and shower frames. These products need frequent cleaning and are susceptible to the growth of microbes. Thus, antimicrobial plastics help prevent the formation of biofilms in such applications.

Key Takeaways
The global antimicrobial plastics market is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period, due to increasing health awareness among consumers.

Regional analysis: North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to strict regulations to control hospital-acquired infections and increased healthcare spending in the region. Asia Pacific is projected to witness the fastest growth during the analysis period, owing to the rising consumer disposable income, growing healthcare sector, and increasing per capita spending on hygienic products in major Asian countries.

Key players: Key players operating in the antimicrobial plastics market are Givaudan SA, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, T. Hasegawa Co., Ltd., Kerry Group, Mane SA, and Huabao International Holdings Limited. Givaudan SA held the largest market share in 2023 due to its diverse product portfolio and wide global presence across major markets.



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