Global Antimicrobial Plastics Market Size to Reach USD 81.95 Billion in 2028, Says Reports and Data

Rising investment in research & development activities for improving properties of plastic is a key factor driving market revenue growth

NEW YORK, Oct. 15, 2021 /PRNewswire/ -- The global antimicrobial plastics market size is expected to reach USD 81.95 Billion in 2028 and register a CAGR of 10.2% over the forecast period, according to the latest report by Reports and Data. Steady market revenue growth can be attributed to increasing usage of these plastics in various end-use industries such as construction & building, healthcare, automotive, sportswear, packaging, consumer goods, and electronic products. In addition, rising concerns regarding environmental impacts and increasing investments by various manufacturers in R&D activities to enhance properties of antimicrobial plastics would also aid revenue growth of the market in the coming years.

Antimicrobial plastics are extensively used in the healthcare industry as it possesses multiple beneficial properties such as cleanliness, lower cost, sterility, ease of use, and high effectiveness, unlike conventional materials. Besides, in hospitals and clinics, antimicrobial plastics are used to manufacture several essential products such as curtains, floors, pull cords, nurse call systems, beds, door handles, handrails, and case note holders.  

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By type, the antimicrobial plastics market can be segmented into commodity plastics, engineering plastics, high performance plastics, and others. Some of the commonly used commodity plastics are polyethylene, polystyrene, polypropylene, polymethyl methacrylate, polyvinyl chloride, polyurethane, and polyethylene terephthalate. This type of plastics is mainly used for the manufacturing of numerous objects and products designed for single use. This segment accounted for the largest revenue share in global market in 2020. Increasing awareness of antimicrobial plastics among people and rising application of antimicrobial plastics in medical tools are two major factors contributing to this segment's growth.