Cold plasma Market Analysis:
The global cold plasma market size is projected to reach USD 3.3 billion by 2026 from USD 1.6 billion in 2021, at a CAGR of 15.0% during the forecast period. Innovations in textile production and growing food safety concerns are the major factors driving the growth of this market. Also, 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 coming years.
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Key Market Players
Players in the global cold plasma industry such as Apyx Medical Corporation (US), Nordson Corporation (US), Adtec Plasma Technology Co. Ltd. (Japan), P2i (UK), Relyon Plasma GmbH, (Germany), Henniker Plasma (UK), Enercon Industries (US), AcXys Plasma Technologies (France), Plasmatreat (Germany), Tantec A/S (Denmark), Europlasma (Belgium), Thierry Corporation (Germany), Surfx Technologies, LLC (US), SOFTAL Corona & Plasma (Germany), Coating Plasma Innovation (France), Ferrarini & Benelli (Italy), Neoplas GmbH (Germany), terraplasma GmbH (Germany), Molecular Plasma Group (Germany), CINOGY GmbH (Germany), and US Medical Innovations (US) are focusing on increasing their presence in high-growth markets through both organic as well as inorganic growth strategies including product launches, expansions, collaborations, and partnerships. Due to the intense competition in this market, market players are increasingly focusing on product launches to strengthen their competitiveness in the market.
Nordson Corporation (US)
Nordson Corporation held the leading position in the cold plasma market. The company has a highly diversified product portfolio, which includes a wide range of cold plasma products. Nordson’s position in the market can be attributed to its active R&D activities and wide global distribution footprint. To maintain its position in the cold plasma market, the company focuses on organic growth strategies such as new product launches to increase its market share. Nordson MARCH continuously introduces technologically advanced products. For instance, in June 2021, the company launched the MegaVIA Plasma Treatment System. The new system offers increased panel-loading by more than 54%, with only a 2% increase in footprint compared to the MaxVIA-Plus. The new platform delivers high process reproducibility and plasma treatment uniformity for PCB panels.
Adtec Plasma Technology (Japan)
Adtec Plasma Technology held the second rank in the cold plasma market. The company is one of the leading players in plasma technologies, with a strong presence in numerous industries and a vast geographic footprint. The company’s focus on R&D helps it develop new products, owing to which it offers products in various segments. The company focuses on organic and inorganic growth strategies such as new product launches, expansions, and alliances to increase its market share. In February 2021, with recent additions to its RF Plasma Equipment range, Adtec was able to supply the entire chain of RF Power equipment—from generator to chamber. These product introductions helped the company build long-standing expertise in the RF plasma generators and impedance matching units markets.
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Plasmatreat is one of the leading players in the cold plasma market. Its dominance in the market can be attributed to its wide product offerings for both atmospheric cold plasma and low-pressure cold plasma. The company has also established a strong geographical footprint through partnerships and expansions. In this regard, in August 2021, the company opened a new subsidiary—Plasmatreat Nordic AB (Sweden)—to expand its international customer base and better serve the Scandinavian and Baltic markets. Business expansions would allow the company to enhance its product offerings and geographic reach, enabling it to attain a leadership position in the cold plasma market.
Cold Plasma Market Dynamics
Drivers: Benefits of cold plasma technology
Restraints: High capital investment
Opportunities: Application of cold plasma in infection prevention and prolonging the life of PPE
Challenges: Limited commercialization of cold plasma
Europe to hold the largest regional market share
Europe is expected to account for the largest share of the cold plasma market, followed by North America. 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 region 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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