June 24, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cold Plasma Market.
It was estimated prior to this unanticipated outbreak that the Cold Plasma Market to projected to witness an impressive double-digit CAGR over the next five years to reach US$ 3,164.5 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Following are some of the market drivers-
- Continuous innovations in cold plasma technology
- Rising demand for eco-friendly products
- Increasing use of cold plasma in food packaging industry
- Introduction of stringent safety standards in various industries including food safety
- Growing needs for frozen food
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By End-Use Industry Type
The market is segmented based on the end-use industry type as electrical & electronics, polymers & plastics, medical, textiles, food, and others. The electrical & electronics industry is forecasted to remain the largest segment of the market over the next five years, driven by an increasing preference for cold plasma in the semiconductors. The food industry is projected to witness the highest growth in the same period, driven by increased safety standards with a higher demand for non-hazardous plasmas.
By Application Type
The market is also segmented based on the application type as coating, cleaning & activation, finishing, wound healing, adhesion, decontamination, sterilization, and others. The cleaning & activation segment is projected to remain the largest application of cold plasma during the forecast period, propelled by an increasing penetration in the electrical & electronic and polymer & plastics industries. The coating also occupied a healthy share of the market in 2018, driven by North America and Asia-Pacific regions. Decontamination currently holds a diminutive share of the market but is expected to witness the highest growth during the forecast period, driven by the food industry.
By Regime Type
The market is also segmented based on the regime type as low-pressure and atmospheric-pressure plasma. Both low- and atmospheric-pressure cold plasmas are projected to grow at impressive rates over the next five years. Low-pressure cold plasma is mainly used in the manufacturing of semiconductors, whereas atmospheric cold plasma is used in a wide variety of applications from the textile to medical industry.
Europe is projected to remain the largest market during the forecast period, driven by the presence of several cold plasma suppliers and high research & development activities in the major European markets, such as Germany, France, and the UK. Asia-Pacific, which is currently the third-largest market after Europe and North America, is projected to witness the highest growth in the same period. China, India, Japan, and South Korea will act as the growth engines of the Asia-Pacific’s market, driven by a continuous shift of electronic manufacturing to the Asian countries, an increasing demand for decontaminated frozen food, growing manufacturing facilities of textiles, and increasing production of polymers.
Key players operating in the global Cold Plasma market are-
- ADTEC Plasma Technology Co. Ltd.
- Enercon Industries Corporation
- Europlasma NV
- Henniker Plasma Treatment
- Neoplas Tools GmbH
- Nordson Corporation
- P2i Limited
- Plasmatreat GmbH
- Tantec A/S.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cold Plasma analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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