Blog

May 21, 2023

Cold Spray Technology Market Size & Share to Surpass $1.8 Billion by 2030

WASHINGTON, June 09, 2023 (GLOBE NEWSWIRE) -- Global Cold Spray Technology

WASHINGTON, June 09, 2023 (GLOBE NEWSWIRE) -- Global Cold Spray Technology Market is valued at USD 1.2 Billion in 2022 and is projected to reach a value of USD 1.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.2% over the forecast period 2023-2030.

Market Overview

Over the projected period, the industry is anticipated to grow in demand as a repair method for lightweight aircraft alloys in the aerospace sector. The demand for Cold Spray Technology will also increase throughout the forecast period due to the expansion of the electrical and electronics industries in the Asia Pacific region.

We forecast that the aluminum category in Cold Spray Technology market sales will account for more than 28% of the market share by 2030. Cold-sprayed aluminum alloys with pure aluminum also catch the attention of many researchers due to their excellent qualities. For instance, alloys consisting of silicon and aluminum have excellent anti-friction properties and give high strength with little thermal expansion.

Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/cold-spray-technology-market-2106/request-sample

Market Dynamics

Cost-Effectiveness of Cold Spay Technology will Support Market ExpansionThe use of Cold Spray Technology is being pushed by cost-effectiveness in many industries. Because of the high cost of tools, materials, and labor, traditional techniques of coating and repairing materials can be costly. In contrast, Cold Spray Technology provides a more cost-effective option by eliminating expensive, high-temperature chemicals and equipment requirements. Cold Spray Technology saves money in part because it eliminates the need for additional finishing stages. The method creates coatings of a high caliber that require less post-processing, which can assist in shortening production times and boosting overall output.

Advancements in R&D of Cold Spray Technology to Boost Market ExpansionThe market for Cold Spray Technology is growing significantly due to improvements in research and development. Cold Spray Technology is increasingly being used and invested in due to new potential and applications being found in the field of study. The efficiency and effectiveness of cold spray technologies are always being worked on, as well as their capabilities. For instance, scientists are investigating the use of novel materials for cold spray coatings, like composites, which can improve the coatings' characteristics and make them better suited for particular applications. Furthermore, developing new tools and methods to enhance the quality of coatings and process efficiency has also been facilitated by improving our knowledge of the cold spray process's physics.

Top Players in the Global Cold Spray Technology Market

ASB Industries (Hannecard Roller Coatings Inc.) (Ohio, U.S.)

Bodycote PLC (UK)

Flame Spray Technologies BV (Netherlands)

Plasma Giken Co. Ltd. (Japan)

VRC Metal Systems (U.S.)

CenterLine (Windsor) Ltd. (Canada)

WWG Engineering Pte. Ltd. (Singapore)

Praxair S.T. Technology Inc. (U.S.)

Impact Innovations GmbH (Germany)

Concurrent Technologies Corp. (U.S.)

Effusiontech Pty. Ltd. (SPEE3D) (Australia)

Titomic Ltd. (Australia)

Budget Limitation? Contact us for Special Discount and Pricing

Top Trends in Global Cold Spray Technology Market

One trend that Vantage Market Research (VMR) expects to see in the Cold Spray Technology industry is its environment-friendly nature. Compared to conventional coating and repair techniques, which frequently call for the use of chemicals and high temperatures and the production of toxic pollutants and waste materials, Cold Spray Technology is a more sustainable and environmentally friendly option. Compared to conventional thermal spray procedures, Cold Spray Technology runs at substantially lower temperatures, lowering energy use and greenhouse gas emissions.

Another trend that VMR predicts will continue in the Cold Spray Technology industry is increasing demand for new commercial aircraft and airplane parts in the United States as new markets and routes open up due to increased urbanization and globalization. Cold Spray Technology is employed in the aerospace sector to create a variety of components, such as structured elements, satellites, gearboxes, landing gear nozzles, engine parts, and other nonstructural components. Therefore, it is anticipated that throughout the forecast period, the development of the aerospace industry in the United States will favorably influence the adoption of Cold Spray Technology there.

Top Report Findings

The Aluminum category controls most of the Cold Spray Technology market's revenue based on material. Cold-spraying aluminum has several benefits, including enhanced bonding and strength on par with the bulk material. Additionally, it offers a broad range of applications in the marine industry, additive manufacturing, and component maintenance.

Based on the Service, most of the Cold Spray Technology market's revenue is controlled by the cold spray coatings category. A cutting-edge coating method known as cold spray coating uses kinetic energy when blasted at very high pressures. Regarding coating surfaces, the cold spray has several technological advantages over thermal spray because it uses kinetic energy rather than heat energy for deposition.

Based on End-Use, most of the Cold Spray Technology market's revenue is controlled by aerospace categories. Satellites, landing gear nozzles, gearboxes, engine parts, and other nonstructural components utilize Cold Spray Technology in the aerospace industry. Cold Spray Technology protects these components from extreme temperatures, which ensures increased reliability over time.

Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/cold-spray-technology-market-2106/0

Recent Developments in the Global Cold Spray Technology Market

In December 2022, SPEE3D collaborates with Nupress to make its patented Cold Spray Technology available through a membership service. A novel subscription-based business model democratizes access to the firm's additive manufacturing technology, allowing it to print large metal components rapidly and address supply chain problems.

In August 2022, Impact Innovations used copper as a model material to show how to get over CSAM's drawbacks.

In July 2022, Titomic Ltd. and Tool Industry, Repkon Machine, and Trade Inc. entered into a joint venture to construct a flow-forming additive, hybrid cold spray manufacturing facility to produce barrels for the defense sector.

Cold Spray Coatings Category of the Service Segment of the Cold Spray Technology Market Forecast to Generate Moare than Half the Total Global Segment Revenue in the Projected PeriodFor a better understanding, based on the Service, the Cold Spray Technology market is divided into Cold Spray Additive Manufacturing and Cold Spray Coatings.

The Cold Spray Coatings segment is expected to dominate the market for Cold Spray Technology. Tensile residual stresses, oxidation, and harmful chemical reactions are all prevented by cold spray coatings. Cold spraying is a cutting-edge method for applying coatings and doing additive manufacturing on structures. This low-temperature process allows for the production of coatings with an unattainable quality by any other means employing various metallic or metallic-ceramic materials. These elements will boost the need for cold spray coatings.

On the other hand, the Cold Spray Additive Manufacturing category is anticipated to be the fastest-growing category in the Cold Spray Technology market. It is a cutting-edge, high-potential technique used to create engineering parts that perform better across various surfaces, sub-surfaces, and interfaces. Most recent advancements in cold spray additive manufacturing technology have been concentrated on electric motors used in the automotive sector to lower carbon dioxide emissions from the vehicles in which these motors are to be employed.

North America Region of the Global Cold Spray Technology Market Expected to Generate a Substantial Revenue and Dominate the Global MarketNorth America dominates the market throughout the projection period. North America's thriving aerospace & defense, electronics, and automotive sectors are driving the demand for cold spray technologies. Additionally, it is anticipated that over the course of the forecast period, ongoing research projects to investigate the application of Cold Spray Technology for damage and dimensional repair of various components used in military vehicles and aircraft as well as marine vessels will propel the regional market's growth.

The Asia Pacific is expected to be the fastest growing region in the Cold Spray Technology market. A large concentration of electronic businesses in China, South Korea, Japan, and Taiwan is anticipated to present chances for cold spray manufacturers to have sustained growth. Additionally, it is anticipated that beneficial government initiatives like Make in India and Digital India will promote the manufacture of electronics in India. Because most of these components are used in producing electronic products, the need for circuit boards, electrical connections, electric motors and generators, and semiconductors and displays is growing along with the electrical and electronics industry.

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Cold Spray Technology Market Forecast Report (2023-2030).

Global Cold Spray Technology Market Segmentation

By Material

Nickel

Copper

Aluminum

Titanium

Magnesium

Other Materials

By Service

Cold Spray Additive Manufacturing

Cold Spray Coatings

By End-Use

Aerospace

Automotive

Defense

Electrical & Electronics

Utility

Other End Uses

By Region

North America

United States

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-East Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of MEA

Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/cold-spray-technology-market-2106

Scope of the Report:

Report Attributes

Details

Market Size in 2022

USD 1.2 Billion

Revenue Forecast by 2030

USD 1.8 Billion

CAGR

6.2% from 2023 to 2030

Base Year

2022

Forecast Year

2023 to 2030

Key Players

ASB Industries (Hannecard Roller Coatings Inc.), Bodycote PLC, Flame Spray Technologies BV, Plasma Giken Co. Ltd., VRC Metal Systems, CenterLine (Windsor) Ltd., WWG Engineering Pte. Ltd., Praxair S.T. Technology Inc., Impact Innovations GmbH, Concurrent Technologies Corp., Effusiontech Pty. Ltd. (SPEE3D), Titomic Ltd.

Customization Options

Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/cold-spray-technology-market-2106/request-sample

Browse More Reports from Vantage Library:

Zero Friction Coatings Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/zero-friction-coatings-market-2073

Parking Deck Coatings Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/parking-deck-coatings-market-2072

Concrete Floor Coatings Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/concrete-floor-coatings-market-2071

Waterborne Coatings Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/waterborne-coatings-market-1973

Coating Resins Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/coating-resins-market-1898

Biopolymer Coatings Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/biopolymer-coatings-market-1684

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.

Follow Us on: LinkedIn | Twitter | Facebook | YouTube

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: [email protected]

Website:

https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases

Latest Vantage Market Research Blog

Vantage Market Research All Reports

Blog:

bwsc.kr

makitirapide.com

v-mr.biz

techwire24.com

globalresearchwire.com

vmr.biz