DUBLIN--(BUSINESS WIRE)--The "Cold Spray Technology Market Size, Share & Trends Analysis Report By Material (Nickel, Copper, Aluminum, Titanium), By Service (Cold Spray Additive Manufacturing), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global cold spray technology market is poised for significant growth, with a projected size of USD 1,559.7 million by 2030, expanding at a robust CAGR of 6.5% from 2023 to 2030.
This growth is primarily driven by the increasing demand from the aerospace industry and the growing electrical & electronics sector. Cold spray coating technology has revolutionized component repairing in the aerospace industry, offering improved thermal stability and corrosion resistance, leading to enhanced reliability and extended component lifespan.
Moreover, in the electrical & electronics industry, cold spray coating technology plays a crucial role in coating electrical components with metals and metal alloys, providing better electrical conductivity, corrosion resistivity, and clearance control. These factors are expected to fuel the demand for cold spray technology in the forecast period.
Expenditure on personal electronic devices, medical devices, and consumer electronics is rising owing to the increased disposable income, production of affordable devices, and increased accessibility of products. According to the Groupe Speciale Mobile Association (GSMA), by the end of 2021, around 5.3 billion people were subscribed to mobile connections, which represented 67% of the population worldwide. Mobile technologies and services generated approximately USD 4.5 trillion of economic value added in 2021, which is anticipated to reach USD 5 trillion by 2025. Thus, the growing electrical & electronics industry will drive the demand in the forecast period.
Manufacturers are undertaking mergers & acquisitions, and product launches to strengthen their geographical presence. For instance, in November 2022, Titomic Limited launched D623 medium-pressure cold spray additive manufacturing (AM) machine. The D623 machine can deposit much harder metals than the compared to D523 lower compression system. The D623 provides higher restoration of high-wear parts and wear-resistant coatings.
Cold Spray Technology Market Report Highlights
- The aluminum segment dominated the market and accounted for 30.6% of the global market share in 2022. Aluminum are extensively used due to its low density, great ductility, good resistance to corrosion, and excellent thermal and electrical conductivity
- The titanium segment is estimated to witness a CAGR of 7.5% in the forecast period. Titanium is utilized extensively in various end-use industries owing to its high strength, good biocompatibility, and superior corrosion resistance
- The cold spray additive manufacturing (CSAM segment is estimated to witness a CAGR of 16.8% in the forecast period. It is used for the development of engineering components that offer improved performance across various surfaces, sub surfaces, and interfaces
- The aerospace segment dominated the market and accounted for 28.2% of the global market share in 2022. It is used in aerospace sector in various components including satellites, gearboxes, landing gear nozzles, engine parts, and other nonstructural elements. These components are shielded from severe temperatures by cold spray technology, which guarantees enhanced dependability over time
- North America dominated the market and accounted for 41.2% of the global market share in 2022. The demand in North America is driven by its flourishing aerospace & defense, electronics, and automotive industries
- ASB Industries (Hannecard Roller Coatings, Inc)
- Bodycote plc
- Flame Spray Technologies BV
- Plasma Giken Co., Ltd.
- VRC Metal Systems
- CenterLine (Windsor) Limited
- WWG Engineering Pte. Ltd.
- Praxair S.T. Technology, Inc.
- Impact Innovations GmbH
- Concurrent Technologies Corporation
- Effusiontech Pty Ltd (SPEE3D)
- Titomic Limited
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Market Segmentation & Scope
3.3. Penetration & Growth Prospect Mapping
3.4. Industry Value Chain Analysis
3.5. Regulatory Framework
3.6. Cold Spray Technology Market - Market dynamics
3.7. Industry Analysis Tools: Cold Spray Technology Market
3.7.1. Porter's Analysis
3.7.2. Macroeconomic Analysis
Chapter 4. Cold Spray Technology Market: Material Estimates & Trend Analysis
4.1. Cold Spray Technology Market: Material Movement Analysis, 2022 & 2030
Chapter 5. Cold Spray Technology Market: Service Estimates & Trend Analysis
5.1. Cold Spray Technology Market: Service Movement Analysis, 2022 & 2030
5.2. Cold Spray Additive Manufacturing
5.3. Cold Spray Coatings
Chapter 6. Cold Spray Technology Market: End-use Estimates & Trend Analysis
6.1. Cold Spray Technology Market: End-use Movement Analysis, 2022 & 2030
6.5. Electrical & Electronics
Chapter 7. Cold Spray Technology Market: Regional Estimates & Trend Analysis
7.1. Cold Spray Technology Market: Regional movement analysis, 2022 & 2030
Chapter 8. Competitive Landscape
8.1. Key Global Players, Their Initiatives, & Its Impact on the Market
8.2. Key Company/Competition Categorization
8.3. Strategic Framework
8.4. Competitive Dashboard Analysis
8.5. Public Companies
8.6. Private Companies
For more information about this report visit https://www.researchandmarkets.com/r/ts74sc
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