U.S. Antimicrobial Plastics Market: Snapshot
Antimicrobial plastics belong to a class of polymers that impede the growth of microorganisms owing to the presence of active antimicrobial agents on the polymer. Antimicrobial plastics inhibit the growth of microorganisms in a variety of products that they enclose or contain, thus playing a big role in extending the quality and shelf life of the products. Moreover, antimicrobial plastics help in curtailing infections and preventing illnesses by resisting the growth of disease-causing pathogens.
Owing to their multifarious applications, antimicrobial plastics have witnessed a significant rise in demand in the past few years, especially in industries such as healthcare, packaging, and personal care. The trend is likely to remain strong in the near future as well, with their rising set of applications in the fields of biomedical devices and implants expected lead to a massive rise in growth opportunities for antimicrobial plastics. The U.S. market for antimicrobial plastics accounts for a large share in the global market and is one of the key contributors in terms of revenue as well as technological advancements owing to the vast research and development activities.
Transparency Market Research estimates that the U.S. antimicrobial plastics market will exhibit a 9.3% CAGR from 2014 to 2020, rising from a valuation of US$662.3 mn in 2013 to a revenue opportunity of nearly US$1,227 mn by 2020.
Healthcare to Remain Leading Application Segment for Antimicrobial Plastics in the U.S.
The report segments the U.S. market for antimicrobial plastics on the basis of application into electronic and consumer appliances, packaging, personal care, building and construction, healthcare, automotive, and other smaller applications such as waste bins and sportswear. Of these, the healthcare industry accounted for the dominant 44% share in the U.S. antimicrobial plastics market in 2013. Applications in the packaging and electronic and consumer appliances segments followed those in the healthcare sector in terms of revenue contribution to the overall market in the said year. The trend is also expected to remain strong over the next few years.
Factors such as increasing number of healthcare regulations and the rising awareness regarding the increased prevalence of hospital-acquired infections are expected to continue to fuel the demand for antimicrobial plastics in the U.S. healthcare sector. While the healthcare industry will continue to be the leading consumer of antimicrobial plastics in the U.S., applications across the personal care and packaging sectors are also expected to remain lucrative. The thriving personal care packaging sector, which includes the packaging of skin care and hair care products and cosmetics, coupled with the packaging of food and beverages and pharmaceuticals is expected to help ramp up the demand for antimicrobial plastics in the U.S.
Focus on New Application Areas Could Benefit Companies Sustain in Fragmented Marketplace
The U.S. market for antimicrobial plastics features a largely fragmented competitive landscape owing to the large number of manufacturers in the country. The leading three companies in the market accounted collectively for merely over 35% of the overall market in 2013; the level of competition is intense and is expected to remain so in the near future as well. Moreover, the market bestows a low threat of forward as well as backward integration by antimicrobial plastic manufacturers as the market features a complex manufacturing environment and is highly capital intensive.
Companies in the market could benefit from the development of innovative product varieties and focus on business expansion across new and profitable application areas. For expansion in the personal care segment, expected to account for a vast share in the overall market through the forecast period, products that increase the shelf-life and aesthetic appeal of products, could fuel demand. Some of the leading companies in the market are AkzoNobel, The Dow Chemical Company, Sherwin-Williams, BASF, Bayer, DuPont and Lonza.
Antimicrobial plastics are molded polymers infused with antimicrobials to inhibit the growth of various harmful microorganisms such as fungi and bacteria. Antimicrobial plastics are used in various industries such as healthcare, automotives, building & construction, electronics, packaging and consumer goods. Additionally, they are used in niche applications such as pipes, plastic water storage containers, waste bins and lids. Rising awareness among consumers regarding good health and cleanliness is expected to be one of the primary factors driving the growth of the antimicrobial plastics market.
Antimicrobial plastics are increasingly used in packaging and electronic appliances as these products are highly susceptible to germs. This may result in transfer of infections. Additionally, growth in electronics, healthcare and packaging industries is anticipated to boost demand for antimicrobial plastics. Higher willingness of consumers to increase expenditure on products with antimicrobial properties is estimated to contribute significantly to the growth of the market.
The report on U.S.antimicrobial plastics market report forecasts and analyzes the antimicrobial plastics market on a regional level. The forecast demand on the global level is based on volume (tons) and revenue (USD million) for the period ranging from 2014 to 2020. The study on U.S. antimicrobial plastics market outlines drivers and restraints of the polyester market and their impact on market growth during the mentioned time period. Additionally, the study includes opportunities available for the market on the regional and level and their effect during the said forecast period.
All plastics infused with antimicrobials have been classified as antimicrobial plastics under the scope of this study. Personal care includes packaging of personal care products. Packaging of healthcare products has been classified under the packaging segment. Packaging typically includes foods, beverages and pharmaceuticals. In other words, the segment includes all types of packaging, except for personal care products.
We have conducted a detailed analysis of the value chain in order to help understand the antimicrobial plastics market better. Furthermore, Porter’s five forces model provides a better understanding of the intensity of competition in the market. The study comprises a market attractiveness analysis, wherein key applications are benchmarked based on their market size, growth rate and general attractiveness.
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the U.S. market. Key players profiled in the report include AkzoNobel N.V, BASF SE, Bayer AG, Bayer AG, E. I. du Pont de Nemours and Company, Lonza Group AG, Momentive Performance Materials Inc, Sinanen Zeomic Co Ltd, Sciessent LLC, Sherwin-Williams and Teknor Apex. Company profiles include attributes such as company overview, financial overview, business strategy, SWOT analysis and recent developments.
The study provides a decisive view of the antimicrobial plastics market by segmenting the market based on applications. All the applications have been analyzed based on present and future trends and the market is estimated from 2014 to 2020. The regional segmentation includes the current and forecast demand for U.S. This segmentation includes demand for individual applications in the particular region. For the purpose of this study, the antimicrobial plastics market has been segmented based on applications. Application segments have been analyzed and forecasted based on current trends at the regional level for the period between 2014 and 2020. The market has been segmented as below:
U.S. Antimicrobial Plastics Market – Application Segment Analysis
- Electronics & consumer appliances
- Personal care
- Building & construction
- Others (Includes sportswear, waste bins, etc.)