Cold Plasma Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Industry (Textile Industry (Finishing, Sterilization, Others), Medical Industry (Wound Healing, Cancer Treatment, Others), Polymer & Plastic Industry (Surface Treatment, Others), Electronics & Semiconductors Industry, Others), By Regime (Low-Pressure Cold Plasma, Atmospheric Cold Plasma), And By Geography - Forecasts From 2022 To 2027

The global cold plasma market is expected to grow at a CAGR of 17.13% over the forecast period to reach a total market size of US$4819.833 million by 2027, increasing from US$1593.708 million in 2020.

In recent years, cold plasma technology has found extensive application in the material processing industry and is now widely used in the manufacturing of semiconductors, 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’s growth opportunities in the coming years.

The textile industry holds a significant share in the market

The textile industry today is moving towards innovative production techniques to improve product quality and meet environmental and social objectives. Plasma treatment has certain advantages as it can modify the surface properties of materials with an environmentally-friendly device. For the treatment of fabrics, cold plasma is used mostly where the ambient treatment atmosphere is near room temperature. Plasma is a 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 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 favourable government initiatives, is expected to drive the market's growth 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 has gained more relevance as modern society is facing many serious healthcare challenges.  One chronic wound like a diabetic ulcer 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, which has been shown to effectively inactivate bacteria and greatly reduce the burden in infected chronic wounds, making it an attractive technology to overcome such challenges. Furthermore, 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, the 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 of the market

By geography, the cold plasma market is segmented as North America, South America, Europe, the 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 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 is expected to propel the market growth opportunities for manufacturers and vendors over the forecast period.

Competitive Insights

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, will introduce its automated plasma treatment system FlexTRAK@-SHS. The system includes a 9.6-litre 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 positions and strategies. The report also covers recent deals and investments by 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.

Key Developments in the market:

• October 2021: Plasmacure, developer of PLASOMA cold plasma systems for treating chronic wounds, entered into a new phase WITH EUROPEAN INVESTMENTS. Through this investment, Plasmacure was able to conduct clinical studies and sell the product globally thanks to a new round of funding from a consortium that includes NextGen Ventures, Topfonds Gelderland, the EIC (European Innovation Council) Fund, and Credenti BV
• November 2021: The NOVOPLASM consortium declared to be the "first in the world" to develop cold plasma technology for the treatment of infected burns and skin graft wound healing. The consortium, which includes CTIBIOTECH, École Polytechnique, the French Armed Forces Biomedical Research Institute, and Institute Pasteur, is using an immunized human skin model produced by 3D bioprinting to aid in the development of the cold plasma treatment. 
• May 2022: Apyx Medical Corporation, developer of medical devices and Helium Plasma Technology maker, announced the approval of 510(k) clearance from the FDA for the usage of the Renuvion Dermal Handpiece for specialized dermal resurfacing treatments

Covid-19 Insights:

COVID-19 had a negative impact on the cold plasma market. The rapid spread of the virus across the globe prompted several countries to enforce lockdown nationwide and social distancing measures. Consequently, multiple production facilities were forced to close down, slowing the productivity of the companies. Furthermore, factors like travel restrictions, ports closure, and airline halts sharply reduced the imports and exports across the countries, disrupting the global supply chain.

Cold Plasma Market Scope:

Segmentation:

• By Industry
  • Textile Industry
    • Finishing
    • Sterilization
    • Others
  • Medical Industry
    • Wound Healing
    • Cancer Treatment
    • Others
  • Polymer & Plastic Industry
    • Surface Treatment
    • Others
  • Electronics & Semiconductors Industry
  • Others
• By Regime
  • Low-Pressure Cold Plasma
  • Atmospheric Cold Plasma
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others