Cold Plasma Market - Global Forecast to 2021 - CAGR of 16.2% from 2016 to 2021
The cold plasma
market witnessed healthy growth rate during the last decade and is expected to
grow at a CAGR of 16.2% between 2016 and 2021 to reach USD 2.91 Billion by
2021.
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.
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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).
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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.
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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.
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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