Cold Plasma Market is Expected to Reach $3.3 billion | MarketsandMarkets.
Chicago, March 30, 2023 (GLOBE NEWSWIRE) -- The cold plasma industry is expected to experience significant growth in the near future. This growth is being driven by the increasing use of cold plasma in various applications, such as surface treatment, sterilization, and air purification. Furthermore, the development of new technologies, such as plasma-assisted 3D printing, is expected to further drive the growth of the industry. Additionally, increased investment in research and development activities, as well as the development of new products, are expected to contribute to the growth of the industry. Furthermore, increased demand from the medical and food industries, as well as the automotive sector, is likely to drive the industry's growth over the forecast period.
Cold Plasma market in terms of revenue was estimated to be worth $1.6 billion in 2021 and is poised to reach $3.3 billion by 2026, growing at a CAGR of 15.0% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Factors such as the increasing prevalence of food-borne diseases, increasing use of cold plasma in wound healing and cancer treatment, innovation in textile production, and benefits of cold plasma for different industries are expected to drive the growth of the cold plasma industry.
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Cold Plasma Market Scope:
Report Coverage | Details |
Market Revenue in 2021 | $1.6 billion |
Estimated Value by 2026 | $3.3 billion |
Growth Rate | Poised to grow at a CAGR of 15.0% |
Market Size Available for | 2019–2026 |
Forecast Period | 2021-2026 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Industry and Regime |
Geographies Covered |
|
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunity | Application of cold plasma in infection prevention and prolonging the life of PPE |
Key Market Drivers | Benefits of cold plasma technology |
Based on industry, the polymer & plastic, textile, electronics & semiconductors, food & agriculture, and medical industries are the leading adopters of cold plasma technology. Of these, the polymer & plastic industry segment accounted for the largest share of the market in 2020. Surface Treatment of the cold plasma technology for the polymer & plastic industry is expected to result in driving the growth of the segment during the forecast period.
Atmospheric cold plasma and low-pressure cold plasma are the two types of regimes available in the commercial market. The atmospheric cold plasma segment is expected to exhibit the fastest CAGR of the cold plasma market during the forecast period. Its advantages over low-pressure cold plasma, low cost, and environment-friendliness have driven the growth of this market segment.
Geographically, the cold plasma market in Europe accounted for the largest share in 2020 due to the presence of a large number of cold plasma companies and growing R&D activity. The Asia Pacific market is expected to register the highest growth during the forecast period, primarily due to the growing demand for cold plasma technology in China, India, Japan, and South Korea, among other APAC countries. Considering this factor, a majority of global companies are focusing on developing and expanding their R&D capabilities and distribution networks in this region.
Key Market Players:
The prominent players in the cold plasma market include Apyx Medical Corporation (US), Nordson Corporation (US), Adtec Plasma Technology Co. Ltd. (Japan), P2i (UK), Relyon Plasma GmbH, (Germany), Henniker Plasma (UK), Enercon Industries (US), AcXys Plasma Technologies (France), Plasmatreat (Germany), Tantec A/S (Denmark), Europlasma (Belgium), Thierry Corporation (Germany), Surfx Technologies (US), SOFTAL Corona & Plasma (Germany), Coating Plasma Innovation (France), Ferrarini & Benelli (Italy), Neoplas GmbH (Germany), terraplasma GmbH (Germany), Molecular Plasma Group (Germany), and CINOGY GmbH (Germany), US Medical Innovation (US).
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Hypothetic Challenges of Cold Plasma Market in Near Future:
Competition from alternative medical treatments: Cold plasma therapy is a relatively new medical treatment, and as such it faces competition from more established treatments. As more research is conducted and more treatments are developed, the efficacy of cold plasma therapy may be challenged.
High cost of equipment: Cold plasma equipment is expensive, and this may be a barrier to entry for prospective buyers. The cost of equipment and installation could be a major challenge for cold plasma market in the near future.
Lack of awareness: While the medical community is aware of cold plasma therapy and its potential benefits, the general public may not be as familiar with it. This could be a challenge for the cold plasma market, as it may have difficulty in reaching potential customers.
Regulatory hurdles: As with any new technology, cold plasma therapy may face regulatory hurdles. This could present a challenge for the cold plasma market, as it may have difficulty in getting approval to market its products.
Top 3 Use Cases of Cold Plasma Market:
Food Preservation: Cold plasma technology is increasingly being used as an alternative to traditional food preservation methods such as canning, freezing, and irradiation. Cold plasma treatments can be used to extend shelf life, reduce spoilage, and reduce the risk of foodborne pathogens.
Air and Surface Decontamination: Cold plasma has been shown to be effective in decontaminating air and surfaces, making it an ideal solution for hospitals, laboratories, and other cleanroom environments. Cold plasma can be used to decontaminate surfaces, inactivate microorganisms, and reduce volatile organic compounds (VOCs).
Textiles and Apparel: Cold plasma is being used to treat textiles and apparel to increase their durability and performance. Cold plasma treatments can improve the abrasion resistance and water repellency of fabrics and can also be used to reduce the flammability of apparel.
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Recent Developments:
In April 2020, Relyon plasma GmbH launched atmospheric plasma system, piezobrush PZ3.
In February 2020, Hennikar plasma signed a partnership with Irida (Spain), this helped the company to strengthens its geographic presence in spain.
In March 2019, Nordson Corporation launched FlexTRAK-SHS automated plasma treatment system. The FlexTRAK-SHS system’s advanced automation enables simultaneous strip buffering and plasma processing for higher chamber utilization
In February 2019, P2i launched Dunkable, a system-level waterproofing solution that enables a smartphone to operate normally despite being fully submerged for long periods, and the outer case breached.
In November 2019, Europlasma launched a nanocoating product Plasmaguard.
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