Global antimicrobial plastic market is expected to grow positively over the forecast period on account of increasing product application in medical and packaging industries. Regular plastics usage helps to minimize harmful bacteria growth on the product surface as compared to normal plastics.
Growing health related concerns such as cancer, immune system suppression, chronic bronchitis, skin diseases and birth defects among end consumers are expected to boost global antimicrobial plastic industry over the forecast period. These products contain antimicrobial polymers which enhances its properties such as transparency, hardness, high antimicrobials and durability owing to which huge global demand is anticipated over the forecast period.
In comparison to normal plastic, antimicrobial plastic are eco-friendly in nature and cost effective. Plastic manufacturers are using antimicrobial additives in various application products including plastic bottles, food packaging and medical equipment which are expected to propel global antimicrobial plastic marketgrowth over the forecast period.
Hygiene is another important factor expected to contribute in huge demand. Slow economic antimicrobial plastic recovery is the only factor expected to obstruct the global industry growth over the foreseeable future. New antimicrobial plastic applications in packaging and healthcare industry are expected to emerge as major opportunity for positive market growth over the forecast period.
Volatile raw material prices are expected to emerge as a major challenge for global industry over the forecast period. Global antimicrobial plastic market is segmented on the basis of product and application. Product segment is sub segmented as high performance, commodity and engineering whereas application segment is sub segmented as healthcare, consumer goods, packaging, building and construction industries, automotive industry, sportswear sector, electronic appliances and waste bins.
In health care sector, these products are majorly used in medical equipment and other tools. Packaging and medical sectors are major segments using antimicrobial plastic on the account of increasing health related or infection related concern among consumer. Huge demand is anticipated over the forecast period owing to growth in mentioned applications which is expected to boost the global antimicrobial plastic industry in coming years.
North America antimibrobial plastics market accounted for the major share in the overall revenue in 2014. High demand in packaging, medical and construction sectors is attributed to significant penetration in the market. U.S. and Mexico promises rapid growth over the next seven years. Asia Pacific is expected to be the fastest growing antimicrobial plastic market over the forecast period.
Factors such as emerging economies, new technological developments in medical sector, urbanizations, rise in living standards and growing health related concerns are expected to contribute in Asia Pacific industry growth over the forecast period. China is expected to be the largest consumers in coming years owing to increasing population along with growing augmenting end use industries such as medical and automotive.
India and Vietnam are expected to witness highest growth in the regional market. Countries such as Brazil, China, U.S, Russia and India are expected to establish as key markets over the foreseeable future. Developing countries are expected to be the new upcoming markets. Global antimicrobial plastic market is highly fragmented in nature.
Key players include BASF SE, The Dow Chemical Company, Doeflex Vitapol and DuPont. Other industry participants are Ticona Engineering Polymers, Diamond Vogel, Momentive Performance Materials Inc., AkzoNobel N.V., Bayer AG, Lonza AG, Sanitized AG, Teknor Apex Company and The Sherwin-Williams Company.
Increasing antimicrobial plastic demand is expected to attract more industry players owing to which many plastic manufacturers are expected to join up with antimicrobial additive players in order to set up new product lines by following mutually agreed business strategy.
Companies are expected to target developing countries such as India, China and Brazil for their business expansion owing to developing industries mainly medical, automobile, construction and packaging coupled with changing consumer preferences for quality and hygienic products.
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