New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Antimicrobial Plastics Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Market Scope of Global Antimicrobial Plastics Market:
| Market Size Value in 2022 (Base Year) | USD 38.0 Billion |
| Market Forecast Value in 2033 | USD 98.5 Billion |
| Growth Rate (CAGR) of Antimicrobial Plastics Market Market (Global) | 10% |
| Forecast Period of Antimicrobial Plastics Market Market (Global) | 2023 – 2033 |
Global Antimicrobial Plastics Market Size:
The global antimicrobial plastics market garnered a revenue of USD 38 billion in 2022 and it is expected to generate a revenue of USD 98.5 billion in 2033. The market growth is attributed to growing consumption of beverages, including soft drinks, juices, milk and others. Rising demand of beverages led the industry in India to grow by nearly 20-25% in 2021. In the United Kingdom, each person consumed around 16 litres of juice in 2019. Moreover, more than 6 billion people in the world consume milk. Besides this, the market growth is also driven by rapidly growing urbanization, higher number of people are shifting to urban areas for a better life and facilities. According to the United Nations, as of 2018, 55% of the population was already living in the urban location, the count of urban population is to reach around 5 billion in 2030, that is more than half of the population, and by 2050, the percentage is expected to rise to 68% and 2.5 billion people is likely to be added in urban population.
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Global Antimicrobial Plastics Market: Key Takeaways
- Asia Pacific region gains the largest portion of the revenue
- Medical & Healthcare segment to dominate the revenue graph
- Food packaging sub-segment remains prominent in the application segment
Surging consumption of the plastic and the packaged food and beverages is to propel the growth of the global antimicrobial plastics market. In 2020, nearly 2 billion people consumed packed beverages worldwide. Additionally, the sales of packaged food, totalled to over USD 2 trillion in 2019. According to UNEP figures, a staggering 36% of all plastic output is used for packaging, including single-use food and drink containers. One million plastic bottles are bought per minute worldwide, and by 2021, that number is expected to rise by 20%. Moreover, other than for packages items, the plastic use for other purposes is rising at the alarming rate. The World Economic Forum estimates that 460 million tonnes of plastic were consumed worldwide in 2019 and that 1,231 million tonnes would be consumed by 2060. Additionally, in 2019 the total annual production of plastic has boosted around 230 folds to 460 million tonnes.
Global Antimicrobial Plastics Market: Regional Overview
The global antimicrobial plastics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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Asia Pacific’s Market Growth is to Elevate by Packages Beverage and Other Plastic’s Higher Consumption
The antimicrobial market growth in Asia Pacific is primarily propelled by higher beverage consumption and increases plastic usage. In 2020, the China’s consumption of packed beverages was around 242 billion liters and it would rise to nearly 260 billion liters in 2023. Moreover, in 2021, India was the largest consumer of cow’s milk and drinking nearly 83 million metric tons of milk. Furthermore, the per capita utilization of plastic in India is around 11 kg per annum, further in 2025, it is anticipated to reach about 16-20 kg per annum. Additionally, in Japan, there were about 268 thousand tonnes of plastic products consumed annually in 2020. Besides this, Asia Pacific’s market growth is also boosted by propelled urbanization in the region. In next 20 years, another 1 billion of Asia’s population is to be added in the the urban population. Furthermore, around 30% of population in Asia would be urban by 2030.
Growing Textile Production and Higher Plastic Usage is to Boost the Market Growth in North America
North America’s market growth is augmented on the account of plastic utilization and higher beverage consumption followed by growing textile industry. The United States is one of the leading producers of textiles. In 2021, the total export value of textile was nearly USD 65 billion. The U.S. textile industry supplies over 8000 products to U.S. military alone. Moreover, nearly 367 million metric tonnes of plastic are produced annually in the United States. Americans use more than 70 million throwaway plastic water bottles per day. Furthermore, the typical American consumer consumes 40 gallons of bottled water each year and around 24 percent of beverages consumed in the United States in 2020 were bottled waters.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Antimicrobial Plastics Market, Segmentation by Additive
- Organic
- Inorganic
Global Antimicrobial Plastics Market, Segmentation by Type
- Commodity Plastics
- Engineering Plastics
- High Performance Plastics
- Others
Global Antimicrobial Plastics Market, Segmentation by Application
- Bottle Manufacturing
- Medical Equipment
- Food Packaging
- Building & Construction
- Coating
- Electrical & Electronics
- Others
By application, the food packaging segment is to garner the highest revenue by 2033, by growing at a significant CAGR over the forecast period. the segment growth is boosted by higher number of people using online food delivery facility and increased consumption of processed food like chips, snacks and others. In 2022, the segment for online food delivery will have a 23.7% user penetration rate. Moreover, by 2027, more than 2,600 million users are expected to be on the online delivery platforms. Furthermore, in 2020, nearly 284 million people consumed potato chips in the United States.
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Global Antimicrobial Plastics Market, Segmentation by End User
- Healthcare
- Packaging
- Automotive
- Consumer Goods
- Sports & Leisure
- Others
By end users, the healthcare segment is to garner maximum revenue by the end of 2033. Plastic is highly used for medical purposes such as, gloves, mask, syringes, artificial limbs, and others. Plastic provided great defense against germs, therefore is most important. Plastic makes up about 20% of the weight of all pharmaceutical packaging. Furthermore, the plastic usage in healthcare sector has incessantly increased in past few years due to onset of pandemic. By the statistics of the World Health Organization, as of October 2022, there are nearly 620 million confirmed COVID-19 cases in the world.
Few of the well-known market leaders in the global antimicrobial plastics market that are profiled by Research Nester are Covestro AG, King Plastic Corporation, DuPont de Nemours, Inc., Microban International, Ltd., SANITIZED AG, Avient Corporation, Milliken & Company, Lonza Group Ltd., Clariant International Ltd., Parx Materials NV and others.
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Recent Developments in the Global Antimicrobial Plastics Market
- August 2022, Covestro AG, announced the investment for accelerating the production of sustainable poly-carbons in the Asia Pacific. This investment aims at growing the production and envision more than 60,000 tons of recycled poly-carbons by the end of 2026.
- February 2022, Sanitized AG, announced the launch of Santized PL 19-30 new water bases product under the product line of BroadtecTM. This new product is integrated with BPR-compliant active ingredient which enables Sanitized PL 19-30 to secure its coating and protect it from the microorganisms and makes it a safe product.
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