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Revenue Pockets : Antimicrobial Plastics Market
Antimicrobial plastics are polymer compound that are infused with agents having antimicrobial properties used to reduce or restrict the growth of microorganisms and viruses in the surface to increase life of products and maintain hygiene. Based on type, the antimicrobial plastics market has been classified into three key segments, namely, commodity plastics, engineering plastics, and high performance plastics. Commodity plastics are estimated to be the largest segment of antimicrobial plastics market by type due to its economical commercialization and wide-spread use in several end-use applications.
The dominance of packaging and healthcare applications is projected to continue be the same by 2020 due to the increasing demand for attractive and sophisticated product packaging from food & beverage and agricultural applications and growing population which in turn would demand healthcare products. This is also due to the growing young population in Asia-Pacific and South America coupled with their increasing plastic goods consumptions.
The Asia-Pacific region is projected to dominate the antimicrobial plastics market by 2020 and account for a major share of the total market in terms of volume. The developed regions, such as North America and Western Europe are estimated to have relatively slow growth rates as compared to the Asia-Pacific and RoW regions. Moreover, Asia-Pacific and RoW are expected to witness the high growth rate between 2015 and 2020. The market in these regions is experiencing increase in antimicrobial plastics consumption in packaging, healthcare, consumer goods, automotive, and construction applications.
In general, important factors those are expected to drive the growth in the antimicrobial plastics market include the increasing awareness of the consumers about health-related infections and stringent regulations in North America and Europe to use products & devices with antimicrobial coatings so as to minimize contact with pathogens and spreading of the infections. Some factors, such slow economic recovery of European countries and high barriers of entry for new players are anticipated to restrain the growth of the antimicrobial plastics market. Substantial improvements in the standard of living of the consumers resulted in increased demand for more hygienic and sophisticated plastic products. This is also expected to drive the global antimicrobial plastics market.
Antimicrobial Plastics Market by Type (Commodity, Engineering, and High Performance Plastics) and by Application (Packaging, Healthcare, Construction, Consumer Goods, Automotive, and Others) - Global Trends & Forecasts to 2020
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