Cold Spray Technology Market

The global Cold Spray Technology Market was 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% between 2023 and 2030.

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The Cold Spray Technology was developed for uses requiring low mist temperatures. Since it allows for little part distortion, it is suitable for the aviation sector and some specialized uses. It is a fantastic low-heat option. While it and thermal spray provide similar coating materials, the thermal spray may occasionally be more cost-effective because a broader range of suppliers provides it. The choice of material and spray process depends on your objectives, just like with any thermal spray coating, even cold spray. Cold gas spraying offers distinct benefits over traditional thermal spraying methods because the sprayed material is neither fused nor melted. As a result, the coating and substrate substance are less affected by the effects of heat.

The use of cool spray technology has grown in popularity recently. The study's emphasis on Cold Spray Technology is gradually shifting from theoretical and fundamental studies to application developments after more than 30 years of rapid development, some of which have already been industrialized and mass-produced. The most recent advancements in cold spray applications in various industries, including semiconductors, aerospace, biomedical, energy, and electronics, were addressed. Despite being in the early implementation phases, Cold Spray Technology has shown great potential to lower costs and improve performance. Global awareness is essential to increase the benefits and applications of current and future cold spray initiatives.

The aerospace and automotive sectors' increased use of cold gas spray coating will boost the market in areas with expanding economies. End-users are becoming more aware of the cold gas spray coating's broad application spectrum and affordable price. Applications of amorphous and nanostructured materials in various end-user manufacturing facilities create even more lucrative possibilities for the cold gas spray coating industry. The technology is completely free of any chemical melting or heating during any stage of operation, making it an environmentally friendly technology with no toxic fumes released. Recyclable end waste of the cold gas spray coating further opens the door for environmentally friendly technology usage and is anticipated to generate enormous product demand in the forecast period.

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• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

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Economic Insights

In a recession, both large and minor businesses experience a decline in sales and profits. They might reduce spending on marketing, research, and capital expenditures as part of their cost-cutting efforts. Recessions may restrict access to credit, hinder collections, and encourage company bankruptcy. Moreover, as natural gas and crude oil costs soar in Europe, chemical producers are forced to raise their prices. As a result, they are starting to lose ground to rivals in the US, Asia, and the Middle East. The expense of energy and feedstock for chemical producers has increased due to the conflict in Ukraine. High freight rates result from inflation brought on by rising gasoline prices. Additionally, safety worries have disrupted air and ground transportation routes through Russia and Ukraine, increasing the cost of rerouting.

Top Market Trends

1. Increasing Use in Aerospace and Automotive Industry: Economically developing countries have an advantage in the market owing to the increased use of cold gas spray coating by the aerospace and automotive sectors. End-users' interest in the business is growing due to the wide application range of cold gas spray coating at a reasonably low cost. Additionally, more and more end-user production facilities use nanostructured and formless materials. The cold gas spray coating's recyclable end waste is paving the way for widespread technology usage and is anticipated to significantly increase demand for products during the forecast period.

2. Growing Use for Coating Electronic Components: In the electronics sector, where corrosion protection is crucial, Cold Spray Technology is primarily used to coat electronic components. Consumer electronics are anticipated to be in higher demand shortly due to factors like rising income, rapid urbanization, the growth of the middle class, and a change in consumer spending priorities in developing countries like China and India.

3. Increasing Use of Nano-Crystalline Materials: The increasing use of advanced nanostructured and amorphous materials in a range of end-use sectors, including electrical, electronics, and medical, should be profitable for producers of cold spray systems. Since nano-crystalline materials are temperature-sensitive, cold gas spray treatment can be used without jeopardizing their beneficial microstructure. Sensors, circuit boards, and data management systems are just a few examples of the high-tech electrical gadgets that use these components frequently today.

Market Segmentation

The global Cold Spray Technology market can be segmented into Material, Service, End Use, and Region. Based on Material, the market can be categorized into Nickel, Copper, Aluminum, Titanium, and Magnesium. Moreover, based on Service, the market can be further split into Cold spray Additive Manufacturing and Cold Spray Coatings. Furthermore, based on the End Use, the market can be further divided into Aerospace, Automotive, Defense, Electrical & Electronics, Utility, and Other End Uses. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Material

Aluminum to Lead with the Largest Market Share Owing to Growing Us of Aluminum for Manufacturing Various Products

Aluminum will dominate the segment of the Cold Spray Technology market during the forecast period. Many researchers are interested in cold-sprayed aluminum alloys because of their exceptional qualities. For instance, alloys made of silicon and aluminum have excellent anti-friction properties and give high strength with little thermal expansion. Other benefits of cold spraying aluminum include enhanced bonding and strength that rivals that of the bulk substance. It also supports various marine industry applications, additive manufacturing, and component repair applications.

Based on Service

Cold Spray Coatings to Account for the Largest Market Share Owing to Advancements in the Technology

During the forecast period, the segment of cold spray coatings will dominate the global Cold Spray Technology market. Tensile residual strains, oxidation, and unfavorable chemical reactions are all prevented by cold spray coatings. Cold spraying is the most current method for applying coatings and performing additive printing on structures. In this low-temperature process, various metallic or metallic-ceramic materials can be used to produce coatings with a grade that can't be obtained any other way. These elements will increase the demand for coatings applied with a cool spray. A cutting-edge method called cold spray coating uses kinetic energy when sprayed at very high pressures. The cold spray has several technological advantages over thermal spray for coating surfaces because it employs kinetic energy rather than thermal energy for deposition.

Based on End Use

Aerospace Segment Will Account for the Largest Market Share owing to the Rising Use of Cold Spray Coating

The segment of first fill will dominate the global Cold Spray Technology market during the forecast period. In the aerospace industry, Cold Spray Technology is used in various parts, including satellites, gearboxes, landing gear nozzles, engine parts, and other non-structural components. Cold Spray Technology protects these components from extreme temperatures, ensuring increased reliability. It is suitable for use in the aircraft sector thanks to its low porosity, excellent bonding, and oxide-free coating in solid state and at low temperatures.

Based on Region

North America to Lead Global Sales Owing to Increasing Use in Various Industries

The global Cold Spray Technology market is expected to be dominated by the region of North America during the forecast period. North America's thriving aerospace & defense, electronics, and automotive sectors drive the demand for Cold Spray Technology there. Additionally, it is anticipated that over 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 aircraft and vehicles as well as in marine vessels will propel the regional market's development.

Over the projected period, the Asia Pacific region's market is anticipated to develop the fastest. The rising use of cold gas spray coatings in the transportation and medical sectors drives the Asia Pacific market. The region's strong automotive manufacturing foundation in China, Japan, and India, combined with the rising demand for lightweight components in various end-use industries, particularly aerospace, medical, electrical, and electronics, has created new growth opportunities for cold gas spray coating companies. Additionally, it is anticipated that beneficial government programs like Make in India and Digital India will promote the manufacture of electronics in India.

Competitive Landscape

The key players in the global Cold Spray Technology market include - ASB Industries (Hannecard Roller Coatings Inc.) (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) among others.

Recent Market Developments

· 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.

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

· 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.

· October 2022: A leading US-based technology and product development firm with over ten years of expertise in additive manufacturing, Triton Systems, and Titomic Limited have entered into a non-binding agreement. In the US market, Titomic and Triton will create applications utilizing Titomic's patented TKF cold spray manufacturing method (the "TKF Process").

· July 2021: 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 military sector.

· August 2020: Curtiss-Wright Surface Technologies collaborated with Michigan State University for the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E) initiative. The company is renowned for its highly engineered surface treatments and, in the project above, is expected to provide less peening in conjunction with thermal microstructure engineering technology.

Segmentation of the Global Cold Spray Technology Market