(PharmaNewsWire.Com, February 18, 2020 ) The report “Cold Plasma Market by Industry (Textile, Electronics & Semiconductors, Polymer & Plastic, Food & Agriculture, Medical), Application (Adhesion, Etching, Wound Healing, Cancer treatment), Regime (Atmospheric, Low-Pressure), Region – Global Forecast to 2024″ The global cold plasma market size is projected to reach USD 3.1 billion by 2024 from USD 1.5 billion in 2019, at a CAGR of 15.6% during the forecast period. The increasing prevalence of food-borne diseases, innovation in textile production, and the benefits of cold plasma in all industrial areas are the major factors driving the growth of this market.
By Textile Industry, the finishing segment is to dominate the cold plasma industry share in 2019
Based on industry, the cold plasma industry has been segmented into the textile industry, polymer & plastic industry, electronics & semiconductors industry, food & agriculture, and medical industry. Within the textile industry, the finishing segment accounted for the largest share in 2018. The large share of this segment can be attributed to the cost-effective and environmental-friendly cold plasma as compared to conventional treatments for textile finishing.
By Regime, the atmospheric cold plasma segment is expected to grow at the highest CAGR during the forecast period (2019-2024)
Based on the regime, the cold plasma market has been segmented into atmospheric cold plasma and low-pressure cold plasma. The atmospheric cold plasma segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to advantages offered by the atmospheric cold plasma, such as the easier handling of samples and scalability for in-line processing and integration into existing production lines.
Europe to hold the largest regional market share in 2019
Europe is expected to account for the largest share of the cold plasma market in 2019, followed by North America. 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 region 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.
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