The global cold plasma market size was US$ 1.77 billion in 2021. The global cold plasma market size is forecast to reach US$ 5.89 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.9% during the forecast period from 2022 to 2030.
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Cold Plasma occurs when an individual constituent of the plasma is at a different temperature from the others. It is also known as Non-Equilibrium Plasma. There are a number of benefits associated with cold plasma, including its ability to decontaminate surfaces from fluorine, grease, oils, and dirt. It will provide initial adhesion, long-term stability, and better wetting. In addition, cold plasma uses cold gases to disinfect food packaging and other products. A wide range of industries finds application for it, such as bioengineering and healthcare. Patients suffering from chronic wounds and burns frequently use cold plasma for their treatment. Cold plasma instantly eliminates bacteria, including Multidrug-Resistant (MDR) strains.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors Influencing Market Growth
A major factor driving the global cold plasma market is a lower water requirement, which reduces the cost of wastewater treatment, medical applications, such as the improvement of tissue repair, the control of bleeding, and the destruction of cancer cells, and its use in packaging industries.
The high capital requirements for implementing cold plasma technology may slow down the overall market growth.
Increasing interest in medical research that develops new treatments for lung cancer, bladder cancer, skin cancer, and breast cancer present lucrative opportunities for the global cold plasma market.
Impact Analysis of COVID-19
COVID has demonstrated promising results for its treatment due to its increasing numbers of patients cured with such therapies. COVID-19 outbreak patients were able to receive cold plasma therapy as a viable treatment option. Due to its potential utility in treating Coronaviruses, this type of therapy has become more popular. In addition to the United States, China, Turkey, Spain, and the United Kingdom, a number of other countries are researching this type of treatment to combat the global COVID-19 epidemic. Even in India, the various hospital successfully used plasma therapy to heal a COVID-19 patient.
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Regional Insights
Europe accounted for the largest share of revenue in 2022. The presence of many cold plasma manufacturers and the growing R&D efforts in Germany reflect Europe’s significant global market share.
North America leads the market, followed by Europe. As a result of the increasing use of technologically advanced products, the region’s cold plasma market is forecast to expand over the forecast period.
The Asia Pacific is forecast to grow at a high rate in the global market during the forecast period. Cold plasma technology is in high demand in countries such as China, India, Japan, and South Korea, among others. However, multinational corporations are focusing their efforts in this region on developing and expanding their R&D skills and distribution networks.
Leading Competitors
The leading prominent companies profiled in the global cold plasma market are:
AcXys Plasma Technologies
Adtec Plasma Technology Co., Limited
Apyx Medical
Coating Plasma Innovation
Enercon Industries Corporation
Europlasma N.V.
Henniker Plasma
Neoplas GmbH
Nordson Corporation
P2i Limited
Plasmatreat GmbH
Softal Corona & Plasma GmbH
Surfx Technologies, LLC
Tantec A/S
Thierry Corporation
Other Prominent Players
Scope of the Report
The global cold plasma market segmentation focuses on End-Use, Regime, Application, and Region.
Segmentation based on End-Use
Automotive
Electronics & Semiconductors
Food Processing & Packaging
Medical
Aerospace
Polymers & Plastics
Others
Segmentation based on Regime
Low Pressure
Atmospheric Pressure
Segmentation based on Application
Surface Treatment
Sterilization & Disinfection
Coating
Finishing
Adhesion
Wound Healing
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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