ANTIMICROBIAL PLASTICS MARKET ANALYSIS

Antimicrobial Plastics MarketSize and Trends

The Global Antimicrobial Plastics market size was valued at US$ 30.05 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. Medical devices require antimicrobial plastics since they help in preventing the surfaces of devices, equipment, and implants from microbes. These antimicrobial plastics prevent formation of harmful bacteria that can lead to infections, including carbapenem-resistant Enterobacteriaceae and methicillin- resistant staphylococcus aureus.

Global Antimicrobial Plastics Market Trends:

Government initiatives for medical assistance

Various government programs that focus on providing reasonable medical assistance in the respective countries, such as the Affordable Care Act in the U.S. and the Health Accord in Canada, are likely to spur the expansion of the medical devices market. Increasing requirement for low-cost medical care, along with the rising disposable incomes of the middle-class population, in emerging economies such as China, India, Singapore, and Malaysia are expected to boost the growth of the medical devices market in Asia Pacific. Moreover, the rapid growth of the medical tourism industry in India, Brazil, Turkey, Costa Rica, Mexico, and Malaysia is anticipated to propel the demand for medical devices in Asia Pacific and South America over the upcoming years. The aforementioned factors are, in turn, anticipated to boost the demand for antimicrobial plastics and consequently drive the market over the forecast period.

 In home decoration and appliances

Building materials are an area where antimicrobial polymers are becoming increasingly relevant. With the current COVID-19 epidemic, there has been an increase in demand for construction materials that can assist lower infection risk. Antimicrobial polymers are being utilized in a range of applications to assist minimize the transmission of the virus, including door knobs, lift buttons and bathroom fixtures.