U.S. Antimicrobial Plastics Market is Expected to Reach USD 1,227.4 million by 2020: Transparency Market Research
ALBANY, New York, July 28, 2014 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Antimicrobial Plastics Market for Electronic & Consumer Appliances, Personal Care, Packaging, Automotive, Building & Construction, Healthcare and Other Applications - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". According to the report, the U.S. antimicrobial plastics market was valued at USD 662.3 million in 2013 and is anticipated to reach USD 1,227.4 million by 2020, expanding at a CAGR of 9.3% during the forecast period from 2014 to 2020. In terms of volume, the antimicrobial plastics market in the U.S. stood at 100,062.1 tons in 2013.
Browse the full Antimicrobial Plastics Market report: http://www.transparencymarketresearch.com/us-antimicrobial-plastics-market.html
Antimicrobial plastics help reduce deterioration and increase the lifespan of medical products. Thus, growth in the medical devices market in the U.S. is likely to be one of the primary factors driving demand for antimicrobial plastics in the country over the next few years. Furthermore, high rate of hospital-acquired infections is projected to boost market growth. Rising demand for antimicrobial plastics in packaging and subsequent growth of the packaging market in the U.S. is estimated to fuel market growth. However, volatility in prices of raw materials is expected to hamper antimicrobial plastic market growth, as it adversely affects profit margins of manufacturers and increases the overall costs of the already-expensive plastics. Product innovation, an area of focus of several manufacturers, is anticipated to open up new opportunities for market growth.
Healthcare was the largest application segment, accounting for approximately 44% of the market share in 2013. Additionally, it is estimated to be the fastest growing segment during the forecast period, led by rising demand for antimicrobial solutions in the medical devices market. Furthermore, higher number of patients with hospital-acquired infections is projected to augment demand for antimicrobial plastics. Packaging and personal care segments are likely to witness above-average growth during the forecast period. Automotive and building & construction are niche market segments of the antimicrobial plastics market owing to the high cost of the plastics.
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The antimicrobial plastics market is fragmented in nature due to the presence of a number of manufacturers. Additionally, there is a low threat of backward or forward integration of antimicrobial plastic manufacturing companies in the market owing to the complex manufacturing and capital intensive nature of the market. Certain companies such as BASF and Bayer are integrated across two or more stages of the antimicrobial plastics market. Key players in the market include The Dow Chemical Company, Lonza, BASF, AkzoNobel, Bayer, DuPont and Sherwin-Williams. Product innovation and development of cheaper antimicrobial solutions are the points of focus of the manufacturers. Market share of these companies is estimated to decrease in the next few years due to increasing demand for antimicrobial plastics. The report segments the U.S. antimicrobial plastics market as follows:
Browse the full Antimicrobial Plastics Market report: http://www.transparencymarketresearch.com/us-antimicrobial-plastics-market.html
U.S. Antimicrobial Plastics Market - Application Analysis
Electronic & consumer appliances
Personal care
Packaging
Automotive
Building & construction
Healthcare
Others (Includes sportswear, waste bins, etc.)
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