03 October 2022
Douglas Insights has analyzed various aspects of the Antimicrobial and Antibacterial Plastics Market and revealed the changes in market trends due to increased awareness of Antimicrobial and Antibacterial Plastics following the Covid-19 pandemic. Its comparison engine has generated many research articles and reports, making it possible for several experts, analysts, and researchers to obtain essential information relating to key growth drivers and market restraints to make predictions and provide reports offering many insights into the global recycling market. The digital tool effectively compares all existing research and Publisher Ratings, Table of Contents, and Publication Dates.
The global market for Antimicrobial and Antibacterial Plastics is expected to see major growth in the next forecast period, with a 10.8% growth in CAGR by the year 2026. Some of the main reasons for this growth include the increased use of Antimicrobial and Antibacterial Plastics in medical and healthcare products and consumer goods packaging, as well as the general increase in awareness about these plastics and their sustainability.
The Covid-19 pandemic affected almost every single industry worldwide. However, it is important to note that the effect of the pandemic on the Antimicrobial and Antibacterial Plastics Market was actually a positive one and led to the growth of the market. This is because of the increased use of Antimicrobial and Antibacterial Plastics in the medical and healthcare industry, as well as the increased awareness of these Plastics for other industrial applications. The high demand for hospital beds, ventilators, and other medical equipment that use Antimicrobial and Antibacterial Plastics during the pandemic meant an increase in manufacturing and output. Once the emergent state of the pandemic died down, these Plastics were then used in applications in different industries like the construction and automotive industries.
The outbreak of the pandemic and the resulting awareness about Antimicrobial and Antibacterial Plastics was definitely the most significant driver to the market. These plastics became especially popular because of their usefulness in preventing the spread of germs and bacteria. There was also a rise in demand for medical devices in the healthcare industry, which meant a rise in demand for Antimicrobial and Antibacterial Plastics.
However, a very significant restraint to the market is government restrictions on the use of Antimicrobial and Antibacterial Plastics in certain industries and applications. For example, the government of Canada took steps to ban single-use plastics in 2019 and aimed to have the country stop using single-use plastics by 2021. This was a hard hit for the Antimicrobial and Antibacterial Plastics Market. In the previous year, the European Union also banned single-use plastic.
Despite the restraints present in the market, there are also opportunities for growth that are expected to appear in the following forecast period. One of these opportunities is using Antimicrobial and Antibacterial Plastics in the textile industry. The textile industry is one of the fastest growing industries globally, and the more that Antimicrobial and Antibacterial Plastics are incorporated into the industry, the higher the demand for them will be.
And finally, regarding market segmentation, the Asia Pacific region holds the largest share in the Antimicrobial and Antibacterial Plastics Market. Rapid development and growing industrialization in the region account for its large share. There is also a great demand for Antimicrobial and Antibacterial Plastics in the manufacturing sector in the Asia Pacific region. Following the Asia Pacific, Europe holds the second largest share in the market.
Some of the key players in the market include DuPont De Nemours Inc. (U.S.), Sanitized AG (Switzerland), BASF SE (Germany), and Parx Plastics N.V. (Netherlands).
The report analyzes global market trends based on Compound Annual Growth Rates (CAGRs) with the data collected from 2020 stats and estimates for future years till 2024.
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