(PharmaNewsWire.Com, October 20, 2019 ) According to the new market research report "Cold Plasma Market by Industry (Polymer, Textile, Electronics & Semiconductor, Food & Agriculture, Medical), Application (Coating, Adhesion, Finishing, Wound Healing, Decontamination), Regime (Atmospheric, Low-Pressure) - Global Forecast to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities.
The cold plasma market is estimated to grow at a CAGR of 16.2% from 2016 to 2021. Market growth primarily attributed to the benefits of cold plasma, such as its environment-friendliness; innovations in textile production; growing food safety concerns; innovations in cold plasma technology; and the increasing use of cold plasma in meat and poultry packaging decontamination. However, the limited commercialization of this technology and the high capital investments required are expected to restrain the growth of this market.
In this report, the global market is segmented on the basis of Industrial application, regime, and region. On the basis of application, the textile industry market is further segmented into finishing, dyeing/printing, sterilization and others, the medical industry is further segmented into wound healing, cancer treatment, dentistry, blood coagulation and others, polymer & Plastic industry segment is further segmented into surface treatment, printing, adhesion and others, electronics & semiconductors industry is segmented into coating, fabrication, etching, and others and food & agriculture industry is segmented into food surface decontamination, packaging decontamination, seed germination and wastewater treatment. On the basis of regime, the market is segmented into atmospheric cold plasma and low pressure cold plasma. The market, by region, covers North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
The surface treatment segment accounted for the largest share of the market for the polymer and plastic industry. This market segment is majorly driven by the advantages of cold plasma surface treatment, such as increased durability, better hydrophobic properties, higher packing density, better film quality, enhanced coating surface smoothness, and lower cost.
Wound healing is the fastest growing application segment in the market for medical industry during the forecast period. The benefits of cold plasma technology in wound healing applications faster healing and better results, sterilization efficiency, & cost-effectiveness as compared to conventional methods are driving the growth of this application segment. In 2015, Europe accounted for the largest share of the global market, followed by North America, Asia-Pacific, and RoW. The large share of Europe in the global market can be attributed to the presence of a large number of cold plasma companies and growing R&D work in Germany.
The Asia-Pacific market is expected to register the highest growth during the forecast period, primarily due to the growing demand for cold plasma technology in China, India, Japan, and South Korea, among other APAC countries. Considering this factor, a majority of global companies are focusing on developing and expanding their R&D capabilities and distribution networks in this region.
In 2015, Europe was the major market for cold plasma technology, followed by North America and Asia-Pacific. The highest market share of European and North America regions is primarily attributed to the presence and expansion of major cold plasma companies through expansions, partnerships & collaborations which has improved the accessibility of cold plasma technology in this region.
However, Asia-Pacific and Latin American regions provide wide scope for the cold plasma market growth. This is mainly attributed to the rising economical, commercial, and infrastructural activities in emerging countries such as China, India, Thailand, Indonesia, and Vietnam. Moreover, manufacturing and sales for cold plasma products have increased in Japan, China, and Southeast Asia owing to the rapidly growing electronics & semiconductor industry. These economies have modified regulations and monitored the implementation of procedures, policies, and guidelines to promote innovation and commercialization. This is attracting many homegrown entrepreneurs as well as global leaders to the region.
Key Players: Major players operating in the cold plasma market are Nordson Corporation (U.S.), Bovie Medical Corporation (U.S.), ADTEC Plasma Technology Co. Ltd. (Japan), Plasmatreat GmbH (Germany), Enercon Industries Corporation (U.S.), Neoplas Tools GmbH (Germany), Tantec A/S (Denmark), Europlasma NV (Belgium), Henniker Plasma (U.K.), and P2i Limited (U.K.).
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