Global Cold Plasma Market Business Growth Trends And Forecast 2024 By Top Key Players: Bovie Medical Corporation, ADTEC Technology Company, Nordson Corporation, Ecotech Group, Henniker Plasma, Europlasma, Plasmatreat, Tantec, Wacker Chemie, P2i and Enerco
North America, led by the U.S. has substantial share with application in medical healthcare segment. Additionally, its share has enlarged with increasing packaged food market.
Asia pacific has become a considerable region in cold plasma market owing to its use in textile industry. Textile industry has flourished at a CAGR above 7.5% in the region that has augmented its consumption. Further with booming electronics and electrical segment in countries such as China & Japan has spurred product usage.
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Cold Plasma Market size shall witness a healthy growth in forecast period with application in textile, food, medical, electrical & electronics and packaging industry. Need for decontamination in various food products such as vegetables, fruits and meats are driving the product consumption. Its ability to kill microorganisms without altering physiochemical property of food items is increasing its popularity. The United States Department of Agriculture (USDA) has advised new treatment named as ‘purple blow torches’ that has ability to kill 99.9% of viruses. These factors are expected to propel cold plasma market.
The compound is used in textile industry for removal of surface hairiness, desizing cotton fabrics and to provide shrink resistance to woollen fabrics. Textile industry is growing at a CAGR of around 4% during last five years and is anticipated to increase product penetration. It is used for microbial free packaging of materials and is employed for meat and poultry packaging. The process utilizes less water that reduces waste water treatment cost.
Undergoing medical research for its use in treatment of lung, bladder, skin and breast cancer has offered it wide opportunities. Usage in packaging, and medical applications is expected to further boost cold plasma market during the forecast period.
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Cold or non-thermal plasma is not in thermodynamic equilibrium either due to difference in ion and electron temperature or if velocity distribution of species does not follow Maxwell Boltzmann distribution. These are known as fourth state of matter that has electrons at high temperature and gas molecules at moderate temperature. It has wide applications in therapeutic, medical and bioengineering segment. These are used for sterilizing biomedical surfaces, and treatment of biological tissues owing to their antimicrobial and bacterial properties.
Major restraint of cold plasma market is requirement of huge capital. Further, its treatment fragments the complex molecular structure and prediction of exact structural characteristics becomes difficult. The initial investments are quite high due to expensive equipments and vacuum pumps that make it difficult for survival of small players.
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Based on regime, cold plasma market is classified into atmospheric pressure and low pressure. Atmospheric has larger share owing to its application in various segments such as medical, food, textile and packaging industry. Low pressure type has moderate share with its use in semiconductors manufacturing. Semiconductor has shown healthy growth with its application in electrical and electronic industry that has enhanced product consumption.
As per applications, cold plasma market is segmented into coating, cleaning & activation, surface treatment, adhesion, decontamination, sterilization and wound healing. These applications are pertaining to various end use industries such as textile, medical, food, packaging and electrical & electronics. Cleaning & activation has major share with its utilization in polymer, plastics, electrical & electronics segment.
Decontamination has significant share owing to its usage in packaged foods. Packaged food market is growing at a CAGR of around 4.5%, thus depicting positive outlook of cold plasma market. Wound healing segment has spurred due to faster healing, better sterilization and cost effectiveness. Further in it has wide application in medical segment and has transformed various specialities such as dermatology, cardiology, oncology and gastroenterology.
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Cold plasma market is quite fragmented with prominent players such as Bovie Medical Corporation, ADTEC Technology Company, Nordson Corporation, Ecotech Group, Henniker Plasma, Europlasma, Plasmatreat, Tantec, Wacker Chemie, P2i and Enercon Industries. Manufacturers are spending on their research and development facility to cater various product applications. For instance, Bovie Medical Corporation has acquired 510k clearance for J-Plasma precise flex hand piece for surgical purposes.
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