U.S. Antimicrobial Plastics Market to Grow to US$1,227.4 Million by 2020 Due to Rising Demand from Healthcare Sector: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research has announced the release of a report titled “U.S. Antimicrobial Plastics Market for Electronic & Consumer Appliances, Personal Care, Packaging, Automotive, Building & Construction, Healthcare and Other Applications- Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014–2020”. The report states that the U.S. market for antimicrobial plastics will grow from US$662.3 million in 2013 to US$1,227.4 million by 2020, registering a CAGR of nearly 9.35% over the period. Volume-wise, the market observed a demand of approximately 100,062.1 tons in 2013.
The report states that the U.S. antimicrobial plastics market is primarily growing due to the flourishing American industry of medical devices. Apart from this, the market has also benefitted significantly from the rising prevalence of hospital-acquired infections and rising demand for antimicrobial plastics from the packaging industry in the past few years.
However, volatile prices of raw materials, which hamper the profit margins of antimicrobial plastic manufacturers, will hamper the market’s growth to a certain extent during the forecast period. The market has growth opportunities through product innovations, a factor that may play a major role in deciding competition and market prominence in future.
The report segments the U.S. antimicrobial plastics market according to the chief applications of antimicrobial plastics, including personal care, electronics & consumer goods, automotive, packaging, healthcare, building & construction, and other nominal applications such as sportswear, waste bins, etc. Among these, the healthcare segment held the largest share of the market, nearly 44%, in 2013.
The U.S. antimicrobial plastics market is extremely fragmented and features a number of manufacturers. Additionally, the capital-intensive nature of the market and the complex manufacturing conditions pose a fairly low threat of forward or backward integration.
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Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.