In the current regulatory climate-where the focus on sustainable techniques has risen — it is expected that the benefits of cold plasma will ensure its greater adoption in the years to come. Innovations in textile production and growing food safety concerns are the major factors driving the growth of this market.
The global cold plasma market size is projected to reach USD 3.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 16.0%. Cold Plasma Market by Industry (Textile, Electronics & Semiconductors, Polymer & Plastic, Food & Agriculture, Medical, Others), Application (Adhesion, Etching, Wound Healing), Regime (Atmospheric, Low pressure), COVID-19 Impact — Global Forecast to 2025
Covid-19 Impact On The Cold Plasma Market
The cold plasma market is expected to be significantly impacted by the Covid-19 pandemic in 2020–2021. However, there could be possible disruptions in the industries such as textile, electronics & semiconductors, polymer & plastic, food & agriculture, and medical during the period of lockdown and movement restrictions imposed globally to control the virus spread and flatten the curve. Social distancing protocols and quarantine measures have reduced the demand for textiles, apparels, semiconductors & electronic appliances, large scale farming practices, and the non essential services has been put off till the post lockdown period.
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Challenge: Limited Commercialization Of Cold Plasma
Currently, only a number of small nascent players are operating in the cold plasma market. As a result, this technology has witnessed limited commercialization in the last decade. The successful applications of cold plasma have been limited to a few sectors. It is also not easily available due to the low number of production units for cold plasma-related products globally. A lack of awareness of cold plasma has also served to inhibit the greater adoption of this technology.
Benefits Of Cold Plasma Technology
Cold plasma technology has diverse applications in several industries. This processing method possessesmany advantages, such as low water and energy consumption, minimal fiber damage, reduced flammability, low chemical consumption, improved wettability, low cost, and a worker-friendly nature. Also, cold plasma technologies do not require onsite storage of supply chemicals or large volumes of processing water, either for implementation or in post-treatment rinsing.
Region Covered in Cold Plasma Market
The cold plasma market in the APAC is expected to grow at the highest CAGR during the forecast period. The Asia Pacific region witnessed the highest growth, which is driven by the continuous shift of electronic manufacturing to Asian countries, increasing demand for decontaminated frozen food, growing manufacturing facilities of textiles, and the rising production of polymers.
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The prominent players in the global cold plasma market are 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, LLC (US), SOFTAL Corona & Plasma (Germany), Coating Plasma Innovation (France)