According to a new research study by Global Insight Services (GIS), the cold plasma market is expected to grow rapidly over the next 10 years to reach a value of more than the US $5.7 billion by 2031.
Cold plasma, also referred to as non-equilibrium plasma or non-thermal plasma, is a classification of plasma, and is considered the fourth state of matter. It has numerous applications in bioengineering, medicine, and therapeutics. Cold plasma is used for sterilization of biomedical surfaces, treatment of living biological tissues, and surface modification of biomedical devices and materials, owing to its antimicrobial & bactericidal properties.
The global cold plasma market is driven by less requirement of water for the process reducing the wastewater treatment cost; medical applications, such as enhancement of tissue repair, control of bleeding, destruction of cancer cells; and its application in packaging industries. Still, the huge capital incurred for implementing cold plasma technology is a key hindrance for the market. On the other hand, the growing need for medical research for developing treatment of lung, bladder, skin, and breast cancer offer lucrative opportunities for market growth.
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Global Cold Plasma Market: Key Drivers
The key factors such as the benefits of cold plasma technology are likely to boost the growth of the cold plasma market. Cold plasma technology has diverse applications in several industries. This processing method possesses many advantages, like 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. Their advantages, as compared to the currently used alternatives in application industries, have served to boost the adoption of cold plasma techniques.
Similarly, the application of cold plasma in infection prevention and prolonging the life of PPE is also refueling the growth of the market. Cold plasma may be used in the prevention of infectious diseases and nosocomial infections as it kills highly stable multi-resistant microbes. In the COVID-19 pandemic, protective clothing and sterile textiles are in short supply. Treatment with cold plasma or ozone-generating plasma can prolong the use of clothing. It can also help in the hydrophilization process in the textile industry for gloves, PPE kits, and masks to reduce microorganisms. Plasma treat, one of the leading players in the cold plasma market, has developed a prototype cleaning station that provides solutions for disinfecting protective clothing.
The medical industry segment is likely to dominate the market during the forecast period
The advantages of cold plasma treatment coupled with minimal side-effects are propelling the market growth of the segment.
Low pressure plasma segment is likely to dominate the market during the projection period
The key factors such as bacterial activity coupled with minimal surface ablation is boosting the market growth.
Market Restraints and Challenges
The major factor hindering the market growth is high capital investment. Before investing, companies always analyze the benefits of technology with regard to their investment and the time taken to recover that cost, considering their budget. Cold plasma technologies are capital-intensive as the equipment used in these coating technologies, such as vacuum equipment, are very costly and require special operating conditions, such as reduced temperatures and controlled vacuum conditions for operation.
The cold plasma market is anticipated to be significantly impacted by the Covid-19 pandemic in 2020-2021. However, there could be possible disruptions in the industries such as electronics & semiconductors, textile, polymer & plastic, food & agriculture, and medical during the period of lockdown and movement restrictions imposed across the globe to control the virus spread and flatten the curve. Social distancing protocols and quarantine measures have reduced the demand for textiles, apparel, semiconductors & electronic appliances, large-scale farming practices, and non-essential services have been put off till the post lockdown period.
The key 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), Ferrarini & Benelli (Italy), Neoplas GmbH (Germany), Terraplasma GmbH (Germany), Molecular Plasma Group (Germany), CINOGY GmbH (Germany), Advanced Plasma Solutions (US), UNIQAIR Technologies (US), PlasmaLeap Technologies (Australia), US Medical Innovations (US), and COMET Plasma Control Technologies (US).