The global cold plasma market is expected to grow at a CAGR of 15.52% over the forecast period to reach a total market size of US$3,830.722 million by 2025, increasing from US$1,612.275 million in 2019. In the recent year’s cold plasma technology have found extensive application in the material processing industry and is now widely used in the manufacturing of semiconductor, special glasses and even for magnetic media and metal coating. Innovations in textile production techniques coupled with the growing investment in research and development are expected to drive the growth of the market during the forecast period. However, high capital investment is anticipated to restrain the market growth opportunities in the coming years.
The textile industry is holding a significant share in the market
The textile industry today is moving towards innovative production techniques to improve product quality and meeting the environmental and social objectives. Plasma treatment has certain advantages as they are able to modify the surface properties of materials with an environment-friendly device. For the treatment of fabrics, cold plasma is used mostly where ambient treatment atmosphere is near the room temperature. Plasma is partially ionized gas, composed of highly excited atomic, molecular, ionic and radical species with free electrons and photons. Some of the most common plasma techniques that are used to treat the textile substrates are Glow Discharge, Atmospheric Pressure Plasma, and Dielectric-Barrier Discharge (DBD) among others. In addition, expanding the textile industry in developing countries like India and China coupled with the favorable government initiative is expected to drive the growth of the market over the forecast period. For instance, recently, the Clothing Manufacturers' Association of India (CMAI) signed a memorandum of understanding with the China Chamber of Commerce for Import and Export of Textiles (CCCT) to explore the area of operation for increasing exports from India.
Application in healthcare
Recently, the ability of cold atmospheric plasma to inactivate bacteria gained more relevance as modern society is facing many serious healthcare challenges. A chronic wound like diabetic ulcers does not heal easily and one of the problems is the high level of infection caused by a spectrum of bacteria. The inability of conventional forms to solve these problems leads to the growing demand for new approaches and technologies such as cold atmospheric plasma that has been showing to effectively inactivate bacteria and to greatly reduce the burden in infected chronic wounds, making it an attractive technology to overcome such challenges. Furthermore, the use of cold plasma allows effective medical treatment of chronic diseases such as cancer and various skin injuries and diseases, like wounds, bacterial infections, and fungoid infections among others. Besides increasing application of cold plasma in cancer treatment, wound healing, and infective diseases are augmenting the growth of the market in the coming years.
Geographically North America is holding a significant share in the market
By geography, the cold plasma market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. North America and Europe are projected to show significant market share due to the early adopters of technology and innovations, thus contributing to generating high revenues. On the other hand, the Asia Pacific region is estimated to show high growth prospects with growth in the electronics and semiconductor industry. In addition, due to rising household expenditure, there is an increasing demand for consumer goods which attracts market players to invest in the country in order to cater to the growing consumer base which is further expected to propel the market growth opportunities for manufacturers and vendors in the coming years. Also, the region is the home of countries like China and Japan, where China is considered one of the biggest manufacturing hubs in the world and Japan which is one of the most advanced economies in the world and is the world’s third-biggest pharmaceuticals market. The growing geriatric population coupled with the increasing investment in the pharmaceutical industry which is expected to propel the market growth opportunities for manufactures and vendors over the forecast period.
Prominent key market players in the cold plasma market include Nordson Corporation, Surfx Technologies, LLC, Tantec A/S, Plasmatreat GmbH, AcXys Plasma Technologies, Apyx Medical Corporation, Relyon Plasma GmbH, Adtec Plasma Technology Co., Ltd, Europlasma Nv, and Thierry Corporation. The number of players in the cold plasma market is large and growing with the opportunity to generate significant revenues as a result of growing demand. Key players in the market are seen to adopt differentiated strategies and are either looking to expand their market portfolio with investments in the development of the new product line and product innovation, or some companies are opting for mergers, acquisitions, and strategic partnerships to expand their market presence and/or expand their product line. For instance, in March 2019, the Nordson Company, a global leader in plasma processing technology introduces its automated plasma treatment system [email protected] The system includes a 9.6-liter large volume F3-S process chamber that can even configure large strips and treat more strips per cycle. Major market players in the global cold plasma market have been covered along with their relative competitive position and strategies. The report also covers recent deals and investments of major market players over the last couple of years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global cold plasma market.