Bioplastics Market

Harshal Jaiswal

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Harshal Jaiswal June 10 - Bioplastics Market

The global hand sanitizer market size is projected to reach USD 1.96 billion by 2026, exhibiting a CAGR of 6.2% during the forecast period. Rising preference for alcohol-based sanitizers around the world will emerge as a strong growth driver for this market, enumerates Fortune Business Insights™ in its recent report, titled “Hand Sanitizer Market Size, Share & Industry Analysis, By Product Form (Foam, Gel, and Liquid), Type (Alcohol-based and Alcohol-free), Distribution Channel (Pharmacy Stores, Supermarkets/Hypermarkets, Online Retail Channels, and Others), End-User (Schools, Restaurants, Hospitals, Household Purpose, and Others), and Regional Forecast, 2019-2026”. According to the Centers for Disease Control and Prevention (CDC), hand sanitizers having alcohol content between 60% and 69% are highly effective in killing all kinds of germs compared alcohol-free sanitizers. In addition to this, the Food and Drug Administration (FDA) has found that alcohol-based sanitizers are able to fight the spread of flu-like infections due to their superior germ-killing capacity. Moreover, there is a growing demand for natural ingredients-based hand sanitizers, which has spurred many companies to create products infused with Aloe Vera and tea. As a result, new avenues of expansion have been opened up for this market.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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The report states that the market value was at USD 1.22 billion in 2018. Besides this, the report provides the following:
• Exhaustive analysis of the impact of COVID-19 outbreak on the market;
• Careful evaluation of the all the possible market drivers, trends, and restraints;
• Thorough study of the different market segments; and
• Comprehensive examination of the regional dynamics and competitive milieu shaping the future of the market.

Market Opportunity
Rapid Spread of the Coronavirus Pandemic to Accelerate Market Growth
The hand sanitizer market growth has received a major booster shot by the unprecedented rate of spread of COVID-19 worldwide, which has shifted the global focus towards basic hygiene and sanitation practices. Hand sanitizers are believed to play a central role in bolstering such practices because the COVID-19 infection is lethal and is known to primarily spreading through human-to-human contact. Since hands are the generally the first point of contact between two or more people, hand hygiene has become a vital tool in fighting this infection. The importance of hand sanitizers in the current scenario is further augmented by the absence of effective treatment options and vaccine against the coronavirus. As a result, the World Health Organization (WHO) has been vociferously promoting the use of alcohol-based hand cleansers, especially for frontline healthcare workers. While frequent washing of hands using soap and water for 20 seconds has been found to be effective, they may not always be available and in such cases, hand sanitizers can function as an efficient alternative.

Regional Analysis
North America to Hold Commanding Position in the Market; Europe to Grow at a Considerable Rate
With a market size of USD 464.51 million in 2018, North America is well-positioned to dominate the hand sanitizer market share in the coming years. Rising awareness among the people regarding personal hygiene, currently fueled by the COVID-19 outbreak, will drive the market in 2020. Moreover, the US now has the highest number of COVID-19 cases and deaths in the world, which has heightened the need for following standard personal hygiene practices.
In Europe, the coronavirus pandemic has ravaged the continent and has generated tremendous demand for hand sanitizers in the region. The market in Asia-Pacific is expected to showcase fastest growth on account of escalating demand for enhanced skin and other personal care products in India and China. Furthermore, programs initiated by local governments in India for fostering hygiene awareness at the school level will bode well for this market in the long-run.

Competitive Landscape
Key Players to Launch Products Targeted for COVID-19
The demand for hand sanitizers has experienced an astronomical rise in the past couple of months as a result of the COVID-19 outbreak. This has spurred Fast Moving Consumer Goods (FMCG) companies to develop hygiene products tailored to fight the spread of the pandemic and also comply with WHO guidelines.

Industry Developments:
• April 2020: The Zydus-owned talc brand, Nycil, forayed into the hand sanitizer business by introducing its own hand sanitizer product to cater to the skyrocketing demand for hand cleansers during the coronavirus outbreak. The focus of the company will remain on germ protection for the entire family and the product will be an expansion of the company’s Heinz portfolio.
• March 2020: Himachal Pradesh-based CSIR-Institute of Himalayan Bioresource Technology (CSIR-IHBT) engineered a novel hand sanitizer, comprising of alcohol, active tea ingredients, and natural flavors. Most importantly, the product does not contain any synthetic chemicals and has been developed according to WHO guidelines.

List of Companies Profiled in the Hand Sanitizer Market Report:
• SC Johnson & Son, Inc. (U.S.)
• Best Sanitizer Inc. (U.S.)
• Bacardi Limited (Bermuda)
• Himalaya Global Holdings Ltd. (India)
• Gojo Industry Inc. (U.S.)
• Proctor & Gamble (U.S.)
• CVS Health (U.S.)
• Unilever Plc. (U.K.)
• Henkel AG & Company (Germany)
• Reckitt Benckiser (U.K.)

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Harshal Jaiswal June 10 - Bioplastics Market

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Harshal Jaiswal June 10 - Bioplastics Market

The global medical plastics market size is projected to reach USD 54.29 billion by 2027, exhibiting a CAGR of 7.1% during the forecast period. Meteoric rise in the demand for personal protective equipment (PPE) across countries will inevitably fuel the uptake of medical plastics, finds Fortune Business Insights™ in its report, titled “Medical Plastics Market Size, Share & Industry Analysis, By Application (Medical Disposables, Medical Instruments, Prosthetics & Implants, Drugs Packaging, and Others), and Regional Forecast, 2020-2027”. PPE is made from plastics and other polymers and the on-going COVID-19 pandemic has escalated the demand for such equipment among frontline health workers worldwide. In Texas, for instance, the request for PPE from healthcare facilities surged from less than 2,000 in the third week of June to more than 22,000 in the last week of the same month. In India, the Apparel Export Promotion Council (AEPC) estimates that the domestic demand for PPE will be worth INR 10,000crore in the upcoming year and worldwide, the business will stand at an estimated value of USD 60 billion. Thus, the outbreak of the COVID-19 pandemic is expected to prove beneficial for this market in the immediate future.
Click here to get the short-term and long-term impact of COVID-19 on this market.
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The report states that the global market value stood at USD 29.93 billion in 2019 and answers the following questions:
• What are the primary growth drivers for this market?
• What challenges does the market face?
• Which are the top market trends and upcoming opportunities?
• Who are the major players and what are their key strategies?
• Which are the most promising regions for the market?
Market Driver
Deferment of EU MDR to Support Medical Plastics Market Growth
The European Medical Device Regulation (EU MDR) is an updated batch of regulations framed to monitor and govern the production and distribution of medical devices sold in Europe. The new regulations are focused on adopting a life-cycle approach to medical devices owing to the rapidly aging population in the continent. The regulations are based on the rationale that the probability of malfunctions and accidents associated with medical devices used to treat aging people is higher than normal. The EU MDR was expected to create a major turmoil in the medical plastics industry in Europe. However, with the coronavirus raging across the globe, the European Parliament has decided to postpone the enactment and implement of this regulation to May 2021 so that companies can focus on prioritizing the production of medical devices to battle the pandemic. This decision, therefore, augurs well for this market.
Regional Insights
Changing Dynamics of Health Industry in Asia Pacific to Fuel Market Growth
Asia Pacific is expected to lead the medical plastics market share in the coming years owing to evolving dynamics and preferences in the healthcare industry in the region. For example, there is growing awareness about sanitation and hygiene in healthcare facilities in India and China, which is spiking the adoption of advanced medical plastics in the region.
In North America, where the market size was at USD 5.36 billion in 2019, the market is anticipated to be characterized by high healthcare spending and excellent R&D infrastructure for medical research. The market in Europe is also expected to register considerable growth owing to favorable government policies promoting the adoption of medical plastics, especially during the current coronavirus pandemic.
Competitive Landscape
Prioritization of Response to COVID-19 to be Central Focus for Key Players
As the coronavirus continues to wreak havoc around the world, key players in the market for medical plastics are focused on prioritizing their response of this unprecedented health crisis. Many companies have boosted their production to produce essential equipment for frontline health workers, while some others are ramping up their R&D spending to launch innovative solutions for the health industry.
Industry Developments:
• April 2020: US-based Celanese Corporation is supporting healthcare workers by enhancing its production of specialty materials for applications such as PPE, ventilators, and other medical devices.
• February 2020: Pirouette Medical designed and developed a novel auto-injector, featuring improved portability and affordability, along with lower costs, for the delivery of epinephrine and other medications in patients. The unique device has been injection-molded with Covestro’s Makrolon® 2458 polycarbonate.

List of Companies Profiled in the Medical Plastics Market Report:
• Eastman Chemical Company (the U.S.)
• GW Plastics (the US)
• Solvay (Belgium)
• Evonik (Germany)
• Celanese Corporation (the U.S.)
• Nolato AB (Sweden)
• Röchling (Germany)
• Covestro AG (Germany)
• BASF SE (Germany)
• SABIC (Saudi Arabia)

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