The antimicrobial plastics market is estimated to be USD 36.9 billion in 2020 and is expected to reach USD 59.8 billion by 2025, at a CAGR of 10.1% 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.
Major players profiled in the report include DuPont (US), BASF SE (Germany), Lonza Group (Switzerland), Avient Corporation (US), Microban International (US), Parx Plastics (Netherlands), King Plastic Corporation (US), BioCote (UK), Milliken Chemical (US) and Sanitized AG (Switzerland).
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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.
The growth of the antimicrobial plastics market has been largely influenced by new product launch/development. The adoption of the strategy of new product launch/development has helped companies to strengthen their product portfolio and meet the specific demands of customers. Companies such as Parx Plastics (Netherlands) and Microban International Ltd. (US) are adopting these strategies to maintain their premium position in the market.
Parx Plastics (US) is one of the 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, Parx Plastics announced the availability of two specific grade materials, LLDPE and PP.
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.
In terms of partnerships & collaboration, in May 2019, Microban International Ltd. (US) and Picnic Plast Industrial Ltd. (Thailand) announces a new partnership with Picnic Plast Industrial Ltd. (Thailand) to manufacture antimicrobial baby products. Similarly, Microban International Ltd. (US) and Panaria Group (Italy) announced a partnership with Microban International to include antimicrobial protection in their products.
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