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Antimicrobial Plastic Is Anticipated To Increase At A CAGR Of Around 7.2% Over The Period Of 2022-2032

The antimicrobial plastics industry analysis reveals that global demand for antimicrobial plastic registered year-on-year (Y-o-Y) growth of 4.1% in 2021. All in all, the global antimicrobial plastics market is predicted to expand rapidly at 7.2% CAGR and reach US$ 73.24 billion by 2032.

Of the total plastic consumption, antimicrobial plastics currently account for less than 2%, which, over the span of the next ten years, is projected to increase to 5% of total plastic demand. Commodity plastic is anticipated to account for nearly 47% market value during.

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The packaging category grew 9.2% to reach US$ 8.94 billion in 2022, while the commodity plastic category, which is the largest segment, increased 7.4% to top US$ 17 billion.

Antimicrobial technology, or antimicrobials additives, are added to plastic to protect it from harmful bacteria. When bacteria come in contact with antimicrobial additives, it is prevented from growing or producing energy, and gets killed.

Latest market analysis by Fact.MR, a market research and competitive intelligence provider, reveals that market value for antimicrobial plastic over the past half-decade increased at a CAGR of around 5.9%. Commodity plastic accounts for the highest share, which is mainly used in the packaging industry.

Polypropylene are the most common plastic used in the automotive sector. Polypropylene is used in bumpers and cable insulations. Polyurethane is used in foam seating, insulation panels, and electrical components. Plastic is used in this industry to improve fuel efficiency. Cars made today are typically 100 kilograms of plastic.

Environmental concerns have made the production of fuel-efficient cars a high priority in the industry. In addition, plastic has many more advantages in the automotive industry, such as extended vehicle life, greater safety, and greater comfort.

Growing use of plastics in packaging as well as other applications such as photographs, electronics, and pharmaceuticals are other major factors driving demand for commodity plastic.

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Key Takeaways from Market Study

  • By type, commodity plastics are projected to provide an absolute $ opportunity worth US$ 17.66 billion over the forecast period.
  • Engineering plastic, on the other hand, is anticipated to account for 35.9% market share by 2032.
  • By packaging application, use of antimicrobial plastics across geographies is anticipated to expand around 2.4X in market value by 2032.
  • North America is projected to capture around 32% of the global antimicrobial plastic market share by 2032.
  • Europe to provide an absolute dollar opportunity worth US$ 11.52 billion by 2032-end.

Key Segments of Antimicrobial Plastic Industry Research

  • Antimicrobial Plastic Market by Type :
    • Commodity Plastic
    • Engineering Plastic
    • High Performance Plastic
  • Antimicrobial Plastic Market by Application :
    • Packaging
    • Automotive
    • Consumer Goods
    • Medical and Healthcare
    • Building and construction
    • Other Applications
  • Antimicrobial Plastic Market by Region :
    • North America Antimicrobial Plastic Market
    • Latin America Antimicrobial Plastic Market
    • Europe Antimicrobial Plastic Market
    • East Asia Antimicrobial Plastic Market
    • South Asia & Oceania Antimicrobial Plastic Market
    • MEA Antimicrobial Plastic Market

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Why is There High Consumption of Antimicrobial Plastics in the U.S.?

By revenue, the United States dominates the global antimicrobial plastics market. By 2032, the market is predicted to have grown 2X. Increasing demand from packaging, automotive, medical, and healthcare sectors will boost the U.S. antimicrobial plastics market.

Many people in the United States travel by automobiles for more than 10 hours a week, which is an enclosed place having a number of touchpoints. Due to this, travellers may get exposed to bacteria. Typical touchpoints include door handles, seats, and the steering wheel. 43% of people in the U.S. travel at least once a week.

Due to COVID-19, hygienic vehicles are becoming important to vehicle owners as well as those who share rides. This is where the use of antimicrobial plastic becomes necessary as it helps prevent in bacteria from growing and producing self-energy.

The United States holds more than 90% share in the North America antimicrobial plastics market, and is estimated to reach US$ 21.74 billion by 2032.

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Tags: Antimicrobial Plastics Market

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