The Antimicrobial Plastic Market is estimated to be USD 29.6 billion in 2018 and is expected to reach USD 43.1 billion by 2023, at a CAGR of 7.8% during the forecast period. Factors such as rising consumer awareness pertaining to the importance of antimicrobial plastics, rapid urbanization, growing population in APAC and South America, and increasing demand from the healthcare sector are driving the market.
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Players in the antimicrobial plastics market are mainly concentrating on the strategies of new product launch/development, contract & agreement, partnership & collaboration, joint venture, and expansion to meet the growing demand for antimicrobial plastics in various applications.
Drivers & Opportunities in global industry:
DowDuPont is one of the leading players in the antimicrobial plastics market. The company is focusing on enhancing its product portfolio by the launch of new products for various applications to expand its business. For instance, in May 2015, the company developed a range of specially formulated sanitizers. The new product helps in reducing contamination on a variety of surfaces such as plastic, stainless steel, and aluminum. Similarly, Microban International Ltd. introduced a new product line for antimicrobial applications in refrigerators, laundry, and dishwasher gaskets.
https://www.prnewswire.com/news-releases/antimicrobial-plastics-market-worth-43-1-billion-by-2023--exclusive-report-by-marketsandmarkets-300818432.html
Companies also adopted contract & agreement as a strategy to expand their market presence. For instance, in June 2015, King Plastic Corporation (US) entered into a license agreement with Gelest Inc. (US) for the use of Biosafe antimicrobial additive. The antimicrobial additive is bonded at the molecular level and does not lose its efficacy even during heavy abrasion occurring during its application. Similarly, Parx Plastics N.V. (Netherlands) entered into an agreement with Nexeo Solutions (US) for the distribution of its products containing antiseptic and antibacterial properties. This agreement helped the company in expanding its presence in Europe.
BASF SE (Germany) is also amongst the leading suppliers of antimicrobial plastics. It caters to the demand for specialized antimicrobial plastics in North America, South America, the Middle East & Africa, Europe, and APAC. The company has a strong foothold in the market in APAC, North America, and Europe, generating a majority of its revenue. It has expanded its R&D centers and floor capacity by continuously investing in the expansion of laboratories, which enables the company to cater to the demand of customers effectively.
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Drivers & Opportunities in global industry:
- Growing Consumer Awareness About Health-Related Issues
- Rapid Urbanization and Growing Population in Asia-Pacific and Latin American Regions
- Increasing Demand From the Health Care Sector
- Replacement of Conventional Materials By Plastics in Various Applications
- Unexplored Antimicrobial Plastic in Textiles & Houseware Application in Emerging Markets
DowDuPont is one of the leading players in the antimicrobial plastics market. The company is focusing on enhancing its product portfolio by the launch of new products for various applications to expand its business. For instance, in May 2015, the company developed a range of specially formulated sanitizers. The new product helps in reducing contamination on a variety of surfaces such as plastic, stainless steel, and aluminum. Similarly, Microban International Ltd. introduced a new product line for antimicrobial applications in refrigerators, laundry, and dishwasher gaskets.
https://www.prnewswire.com/news-releases/antimicrobial-plastics-market-worth-43-1-billion-by-2023--exclusive-report-by-marketsandmarkets-300818432.html
Companies also adopted contract & agreement as a strategy to expand their market presence. For instance, in June 2015, King Plastic Corporation (US) entered into a license agreement with Gelest Inc. (US) for the use of Biosafe antimicrobial additive. The antimicrobial additive is bonded at the molecular level and does not lose its efficacy even during heavy abrasion occurring during its application. Similarly, Parx Plastics N.V. (Netherlands) entered into an agreement with Nexeo Solutions (US) for the distribution of its products containing antiseptic and antibacterial properties. This agreement helped the company in expanding its presence in Europe.
BASF SE (Germany) is also amongst the leading suppliers of antimicrobial plastics. It caters to the demand for specialized antimicrobial plastics in North America, South America, the Middle East & Africa, Europe, and APAC. The company has a strong foothold in the market in APAC, North America, and Europe, generating a majority of its revenue. It has expanded its R&D centers and floor capacity by continuously investing in the expansion of laboratories, which enables the company to cater to the demand of customers effectively.
Early buyers will receive 10% free customization on this report.
Don't miss out on business opportunities in Antimicrobial Plastic Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow.
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=20591555
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Hey! I have seen your blog it's quite informative thanks for sharing this. pleas check the 90 day antimicrobial coting
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