Wilmington, Delaware, United States, July 07, 2023 (GLOBE NEWSWIRE) -- The global cold plasma market was valued at US$ 2.2 Bn in 2022 and is projected to expand at a CAGR of 12.3% from 2023 to 2031.
Rise in adoption of environmentally-friendly processing techniques and increase in demand for high performance materials in various industries are fueling the cold plasma market. Cold plasma processing is free of harmful chemicals and toxic waste, which makes it a safer and more sustainable alternative to conventional chemical processing methods.
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Cold plasma technology has been gaining traction in the past few years as it provides precise and efficient processing, without damaging the base material. It involves the use of low-temperature, non-thermal plasma to clean materials, modify surfaces, and sterilize surfaces in various industries such as automotive, electronics, food processing, medical devices, and packaging.
Cold Plasma Market: Growth Drivers
- Rise in demand for biologically derived products is fueling the cold plasma market
- Advancements in cold plasma technology is augmenting market growth
Cold Plasma Market: Regional Analysis
North America accounted for major share of the global cold plasma market industry in 2022. This can be ascribed to increasing R&D activities, technological advancements, and presence of key players in the region.
Asia Pacific is a key region in the global cold plasma market. Increase in R&D activities in several industries, particularly healthcare and electronics, have led to the development of new medical devices and electronic components based on cold plasma technology.
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Cold Plasma Market: Key Findings of Study
Growth of Healthcare Sector Fueling Market Statistics – Expansion of the healthcare industry globally is creating lucrative cold plasma market opportunities. Demand for cold plasma technology is increasing in the healthcare industry, as it is non-invasive, safe, and has effective applications in several medical domains. The technology has been effective in wound healing, dental applications, and sterilization, and cancer treatment.
Cold plasma is increasingly used in wound healing in the healthcare sector. The technology is used in the treatment of chronic wounds, skin injuries, or burns, which is expected to fuel demand for cold plasma in the wound care market.
Technological Advancements Propelling Market Demand – Advent of new and improved cold plasma technology with higher efficiency, lower costs, and higher processing speeds is fueling market demand.
Researchers are striving to discover new plasma sources that are longer lasting, efficient, and more stable than previous sources. These new sources are also more adaptable for different applications and can be used in a number of end-use industries.
Development of plasma jet is also the focus of stakeholders in the cold plasma market. Plasma jet is used in various applications, such as sterilization, wound healing, and surface treatment. Therefore, development of new plasma jets with improved performance and higher efficiency is fueling the adoption of cold plasma in these industries.
Distinguishing Properties Fueling Demand for Atmospheric Cold Plasma – Based on regime, the atmospheric cold plasma segment held the leading market share in 2022. Atmospheric cold plasma technology can be performed at room temperature and atmospheric pressure, which expands its use for practical purposes. On the other hand, other types of cold plasma require special equipment and controlled environments to be performed.
Atmospheric cold plasma exhibits several distinguishing properties that makes it attractive for various applications. It can be used to produce reactive oxygen and nitrogen, which can be used for sterilization, wound healing, and surface treatment.
Atmospheric cold plasma is safe and environmentally-friendly, therefore, it is a safer and more sustainable alternative than traditional chemical processes.
Rise in Adoption of Cold Plasma in Surface Treatments – In terms of application, the surface treatment segment held the leading share of the global industry in 2022. Surface treatment involves alteration of the surface properties of a material, such as wettability, adhesion, and surface energy. Cold plasma is widely adopted for surface treatment, as it provides precise and efficient processing without damaging the underlying material.
Competition Landscape
The global landscape is fragmented, with the presence of large number of players. Leading companies are engaging in the development of new and improved cold plasma techniques to meet precise and efficient processing requirements.
Prominent players in the cold plasma market include Plasmatreat GmbH, CINOGY System GmbH, neoplas med GmbH, AcXys Technologies, Nova Plasma Ltd., Relyon plasma GmbH, Adtec Healthcare Limited, Apyx Medical, Leaflife Technology, and Henniker Plasma Treatment.
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The global cold plasma market is segmented as follows;
Global Cold Plasma Market, by Regime
- Atmospheric Cold Plasma
- Low-pressure Cold Plasma
Global Cold Plasma Market, by Application
- Surface Treatment
- Coating
- Etching
- Sterilization
- Decontamination
- Wound Healing
- Diseases Treatment
- Others
Global Cold Plasma Market, by End-user
- Medical
- Textile
- Polymer & Plastics
- Electronics & semiconductor
- Food & Beverages
- Others
Global Cold Plasma Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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