In the current regulatory climate-where the focus on sustainable techniques has risen—it is expected that the benefits of cold plasma will ensure its greater adoption in the years to come. Innovations in textile production and growing food safety concerns are the major factors driving the growth of this market.
The cold plasma market is expected to be significantly impacted by the Covid-19 pandemic in 2020-2021. However, there could be possible disruptions in the industries such as textile, electronics & semiconductors, polymer & plastic, food & agriculture, and medical during the period of lockdown and movement restrictions imposed globally to control the virus spread and flatten the curve.
What the Market Looks Like?
The global cold plasma market size is projected to reach USD 3.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 16.0%. The cold plasma market in the APAC is expected to grow at the highest CAGR during the forecast period.
Cold plasma can be used in the prevention of infectious diseases and nosocomial infections as it kills highly stable multi-resistant microbes. In the COVID-19 pandemic, protective clothing and sterile textiles are in short supply. Treatment with cold plasma or ozone-generating plasma can prolong the use of clothing. It can also help in the hydrophilization process in the textile industry for gloves, PPE kits, and masks to reduce microorganisms
The wound healing segment is projected to grow at the highest CAGR during the forecast period
Within the medical industry, the cold plasma market is segmented into wound healing, dentistry, oncology, blood coagulation, and other applications. The wound healing segment is projected to grow at the highest growth rate during the forecast period, driven by the advantages of cold plasma treatment, along with the minimal side-effects, thus making it more viable over conventional methods.
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What Drives the Market?
The growth of the Cold plasma market is primarily influenced by the following factors:
- Benefits of cold plasma technology
- Food safety concerns
- Innovations in textile production
Within the medical industry, the cold plasma market is segmented into wound healing, dentistry, oncology, blood coagulation, and other applications. The wound healing segment is projected to grow at the highest growth rate during the forecast period, driven by the advantages of cold plasma treatment, along with the minimal side-effects, thus making it more viable over conventional methods.
Covid-19 Impact on the Cold Plasma Market
The cold plasma market is expected to be significantly impacted by the Covid-19 pandemic in 2020-2021. However, there could be possible disruptions in the industries such as textile, electronics & semiconductors, polymer & plastic, food & agriculture, and medical during the period of lockdown and movement restrictions imposed globally to control the virus spread and flatten the curve. Social distancing protocols and quarantine measures have reduced the demand for textiles, apparels, semiconductors & electronic appliances, large scale farming practices, and the non essential services has been put off till the post lockdown period .
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The APAC cold plasma market is expected to grow at the highest CAGR during the forecast period
The cold plasma market in the APAC is expected to grow at the highest CAGR during the forecast period. The Asia Pacific region witnessed the highest growth, which is driven by the continuous shift of electronic manufacturing to Asian countries, increasing demand for decontaminated frozen food, growing manufacturing facilities of textiles, and the rising production of polymers.
