Antimicrobial Plastics Market by Type and Geography - Forecast and Analysis 2019-2023
Global Antimicrobial Plastics Market: About this market
Technavio’s antimicrobial plastics market analysis considers sales from commodity plastics, engineering plastics, and high-performance plastics types. Our analysis also considers the sales of antimicrobial plastics in APAC, Europe, North America, South America, and MEA. In 2018, the commodity plastics segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing demand for rigid plastic packaging will play a significant role in the commodity plastics segment to maintain its market position. Also, our antimicrobial plastics market report looks at factors such as the increasing demand from the healthcare sector, rising demand for packaged food and beverages, and growing industrialization and economic growth in emerging economies. However, environmental concerns related to plastic waste and volatility in raw material prices may hamper the growth of the antimicrobial plastics industry over the forecast period.
Global Antimicrobial Plastics Market: Overview
Increasing demand for packaged food and beverages
Food and beverage manufacturers prefer food packaging solutions that preserve food items and has a low amount of artificial preservatives. Hence, they are increasingly adopting new packaging methods and advanced packaging materials, such as antimicrobial plastics. Antimicrobial plastic packaging films exhibit properties such as chemical resistance, high tensile strength, durability, gas and aroma barrier, and resistance to humidity and heat. Also, they are increasingly used in the food and beverages sectors because they minimize the overall weight of the packaging. This demand for packaged food and beverages will lead to the expansion of the global antimicrobial plastics market at a CAGR of over 7% during the forecast period.
Increasing adoption of bio-based antimicrobial plastics
There is an increase in the demand for biodegradable plastic products such as bio-based antimicrobial plastics. The growing environmental concerns, government regulations, and rising need for waste management have boosted the demand for biopolymer-based antimicrobial plastics. Bio-based antimicrobial plastics are made from biomass comprising of materials, such as corn, wheat, and sugarcane. These materials can significantly reduce emissions and the overall carbon footprint. In addition, the bio-based antimicrobial plastics is witnessing growth due to the rising need for waste management. Corporates are also producing eco-friendly initiatives that are encouraging the use of bio-based antimicrobial plastics. This is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global antimicrobial plastics market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global antimicrobial plastics market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading antimicrobial plastics manufacturers, that include BASF SE, Bayer AG, Clariant International Ltd., DuPont de Nemours Inc., Highland Plastics Inc., King Plastic Corp., Lonza Group Ltd., Parx Plastics NV, PolyOne Corp., and Teknor Apex Co. Inc.
Also, the antimicrobial plastics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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