United States, Rockville MD:, June 16, 2022 (GLOBE NEWSWIRE) — As per the newly released report on antimicrobial plastic by Fact.MR, global market is projected to be valued at USD 36,540.9 million by 2022 end, while growing with a CAGR of around 7.2% to reach over the period 2022-2032.
Additionally, Fact.MR estimates antimicrobial plastic market valuation to surpass USD 73,235.7 million by 2032 end attributed to factors such as growing demand for antimicrobial plastic form automobile and packaging industries.
Furthermore, increasing demand from automotive industry where use of plastic is necessary to improve fuel efficiency by making vehicle more lighter and reducing corrosion due to salt and water on metal surface.
“As sustainability becomes vital for plastic manufactures, innovation towards antimicrobial plastics is driving the overall growth” says a Fact.MR analyst
The global plastic market is estimated at US$ 600 Bn in 2021 has increased by US$ 100 Bn since 2000. China is the biggest exporter of plastic globally. All goods plastics good exported globally are around US$ 20 Bn in exported shipped around world.
To request a sample copy or view summary of this report, “Antimicrobial Plastics Market Analysis By Type (Commodity Plastic, Engineering Plastic & High Performance Antimicrobial Plastic) By Application (Packaging, Automotive, Consumer Goods, Medical and Healthcare, Building and construction) By Region 2022-2032”, published by Fact.MR.
Plastics are widely used in packaging because it is very efficient. Both being strong and light in weight can be easy for transportation. Using less materials results in reduction in use of energy and green house emission.
Key Takeaways from Market Study
- By Type, Commodity plastics is projected to provide absolute $ opportunity worth USD 17,656.9 million over the forecast period
- Engineering plastic on the other hand is anticipated to account for 35.9% market share by 2032, grow with a CAGR of around 7.8% over the forecast period
- By packaging application, use of antimicrobial plastics across geographies is anticipated to expand around 2.4X in market value by 2032. It is further poised to create an absolute $ opportunity worth USD 12,552.2 million by 2032
- North America is projected to capture around 32% of global antimicrobial plastic market share by 2032 and be valued at USD 24,047.9 Mn by 2032
- Europe to provide absolute dollar opportunity worth USD 11,520.0 million by 2032 end growing at a CAGR of 8.0% during 2022-32
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Setting up manufacturing facilities across the high potential regions and investing in research and development remains the top strategy for market players in antimicrobial plastic market.
Plastic manufacturing companies are finding ways in which company can provide the convenience of plastic, protection of plastic and affordability of plastic and safety of plastic. Companies’ aims to stop plastic waste by enabling 1 million tons of plastic to be collected, reused and recycled through its direct actions.
Key Segments of Antimicrobial Plastic Industry Research
- Antimicrobial Plastic Market by Type :
- Commodity Plastic
- Engineering Plastic
- High Performance Plastic
- Antimicrobial Plastic Market by Application :
- Consumer Goods
- Medical and Healthcare
- Building and construction
- Other Applications
- Antimicrobial Plastic Market by Region :
- North America Antimicrobial Plastic Market
- Latin America Antimicrobial Plastic Market
- Europe Antimicrobial Plastic Market
- East Asia Antimicrobial Plastic Market
- South Asia & Oceania Antimicrobial Plastic Market
- MEA Antimicrobial Plastic Market
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the antimicrobial plastic market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Commodity plastic, engineering plastic, high performance plastic), by application (packaging, automotive, medical and healthcare, consumer goods, building and construction, other applications ), and across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical & material industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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