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Antimicrobial Plastics Market Is Driven By Rising Demand For Antimicrobial Applications
The global Antimicrobial Plastics market is predominantly driven by the rising demand for antimicrobial applications across multiple end-use industries such as healthcare, packaging, food and beverage, and consumer goods. Antimicrobial plastics possess inherent disinfectant properties that help inhibit microbial growth and significantly reduce surface contamination. These materials are extensively used in medical devices manufacturing as they offer anti-microbial surfaces that lower the risk of hospital-acquired infections. Moreover, the increasing preference for antimicrobial packaging for food products is boosting the market growth. Antimicrobial packaging helps extend product shelf-life by preventing spoilage and reduces the need for preservatives. The material’s self-sanitizing properties also augment its use in consumer appliances, furniture, and electronics.
The Global Antimicrobial Plastics Market is estimated to be valued at US$ 37.35 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Antimicrobial Plastics are F. Hoffmann-La Roche Ltd, Biocryst Pharmaceuticals Inc., Bristol-Myers Squibb Company, Kyowa Kirin Co., Ltd., Genmab A/S, Seagen Inc., GlaxoSmithKline plc., Johnson and Johnson Private Limited, Elorac, Acrotech Biopharma, Merck and Co. Inc., Novartis AG, SHIONOGI & Co., Ltd., Spectrum Pharmaceuticals Inc., and Bausch Health Companies Inc.
The growing demand from end-use industries such as healthcare, food packaging, consumer goods is fueling the growth of the Antimicrobial Plastics Market Size. Rapid urbanization and changing lifestyles have increased the spread of infectious diseases, which has augmented the demand for antimicrobial plastics.
The rising global healthcare expenditure to prevent hospital-acquired infections and increasing international trade of packaged food are some of the key factors driving the global expansion of the antimicrobial plastics market. Major players are expanding their production facilities across different geographies to leverage the growth opportunities.
Market drivers
One of the key drivers for the antimicrobial plastics market is the stringent regulations regarding food safety and healthcare-associated infection control. Various government organizations have implemented regulations pertaining to the use of anti-microbial materials in food packaging and medical devices manufacturing. This is encouraging the adoption of antimicrobial plastics across industries. Furthermore, the growing consumer awareness regarding hygiene and wellness is also augmenting the demand for self-sanitizing plastics in various commercial and residential applications. Rapid technological advancements to enhance the efficacy of these plastics through research activities supported by private and public funding are expected to accelerate the market penetration over the forecast period.
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