Cold Plasma Market is anticipated to grow at a CAGR of 13.2% from 2020 to 2030
Market Industry Reports (MIR) has published a new report titled “Cold Plasma Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global cold plasmamarket accounted for over US$ 1.3 billion in 2019. It is anticipated to grow at a CAGR of 13.2% from 2020 to 2030.
The significant market growth can be attributed to the increasing application scope and the use of cold plasma in the textile industry. Moreover, the increasing demand for processed &packed food globally, growing applications of cold plasma in production processes ofvarious industryverticals, and increasing food &safety concerns are anticipated to boost growth of the cold plasma market over the forecast period. However, the high capital investments for the development of the cold plasma technology arehindering market growth to a certain extent.
Consumers demand safe foods that also meet other quality criteria such as high nutritional &sensorial quality, long shelf life, freshness, additives-free status, environment-friendly processing, and low production costs. Thus, food industries have to ensure food safety and sustainability of their productsduring manufacturing processes. As there are chances of food product contamination during the production process, the cold plasma technology can be used for decontamination of food products and toxin removal. Such factors and increasing the demand for processed food products is thus estimated to boost the growth of the cold plasma market.
According to the WHO, Cancer is the second leading cause of deaths globally and is responsible for an estimated 9.6 million deaths in 2018. The most common types of cancersare those of thelungs, breasts, colorectal, prostate, and skin. Increasing research &development studies for the use of cold plasma as an anti-cancer treatment modality are anticipated to propel the cold plasma market during the forecast period. Various studies have been conducted on different cancerous cell lines including those of the breasts, brain, lungs, skin, and blood, among others and shown promising results. The increasing applications of cold plasma for treatment in the medical industry is thus anticipated to further drive the global cold plasma market during the forecast period.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Cold Plasma Market by Industry (Textile, Food & Agriculture, Medical, Polymer & Plastic, and Electronics& Semiconductor), Regime (Low-Pressure Cold Plasma and Atmospheric Cold Plasma)- Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/cold-plasma-market/325
However, initial investments, such as purchasing expensive plasma equipment &highvacuum pumps and limited commercialization,willrestrain growth of the cold plasma market.The variety of gases used, such as argon, helium, or their combinations with oxygen, increase the development costs. However, the technology could be affordable if atmospheric air is used as a process gas instead of the expensive noble gases.
Asia Pacific is estimated to account for the highest CAGR in the cold plasma market over the forecast period.Increasing textile industries,rising economies in developing countries and technological advancements in cold plasma technologies will propel growth of the cold plasma market in this region. Moreover, increasing incidents of cancer cases and rising geriatric populationswillfuel market growth during the forecast period.
Some of the prominent players in the global cold plasma market include Apyx Medical, Nordson Corporation, P2i Ltd, Plasmatreat GmbH, Henniker Plasma, Tantec Group, AcXys Technologies, PlasmaLeap Technologies, Adtec Plasma Technology Co., Ltd., and APS, among others.
Market Industry Reports (MIR) believes in sharing accurate market-related insights. The information that we obtain is from authentic sources and key opinion leaders in the industry. We take efforts to ensure that the information published by us is both reliable and accurate; however, we take no liabilities for any inaccuracy in the information obtained from users, manufacturers, or other sources; opinion, projections, and estimates may be subject to fluctuations and changes.
This report is intended for internal use by the customer and not for disclosure to third parties or general publications. No part of the report or the report as a whole may be reproduced, resold, lent, circulated or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without explicit permission from MIR. Neither MIR nor any of our partner companies take responsibility for any short-term or long-term decisions taken by our clients based on insights present in our publications.