Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.02 billion in 2020 global cold gas spray coating market will reach USD 1.37 billion in 2030. The cold gas spray procedure is commonly utilised in four areas: dimensional restoration, electrical and thermal conductivity, corrosion prevention, and solder pre-placing. The advantages of cold gas spray coating over conventional thermal spray methods include increased hardness, decreased porosity, enhanced adhesion strength, and preservation of the feedstock powder's properties. This is one of the main factors influencing the global cold gas spray coatings market.
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Key Insight of the Global Cold Gas Spray Coating Market
Asia Pacific is expected to grow the fastest during the forecast period.
The Asia Pacific market is driven by the rising use of cold gas spray coatings in the transportation and medical sectors. 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.
In 2020, the high-pressure segment dominated the market with the largest market share of 57.5% and revenue of 0.58 billion.
The technology segment is divided into low-pressure and high-pressure. In 2020, the high-pressure segment dominated the market with the largest market share of 57.5% and revenue of 0.58 billion.
The medical segment is expected to be the fastest-growing end-use segment, With a CAGR of 4.2% over the forecast period.
The end-user segment includes electrical & electronics, transportation, oil & gas, medical, utility, and others. The medical segment is expected to be the fastest-growing end-use segment, With a CAGR of 4.2% over the forecast period.
Advancement in market
Industrial gases and engineering business Linde introduced a novel gas distribution system for cold spray additive manufacturing called Linspray® Connect. The solution, created in partnership with Impact Innovations of Germany, aims to improve the dependability and safety of the Cold Spray AM process. The Linspray Connect's design guarantees the delivery of a consistent, high-quality gas flow with little change and allows the user to keep an eye on process variables, including pressure, temperature, and nitrogen tank fill levels. In the event of an incident, it immediately provides real-time error messages, switches to an emergency gas supply, or initiates a safe system shutdown.
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Market Dynamics
Driver: Cold gas spray coating use is expanding in the aerospace and automotive industries.
The aerospace and automobile industries' increased usage of cold gas spray coating has given the market a good start in countries with expanding economies. In the market, end-users are becoming more interested in cold gas spray coating due to its wide range of applications and affordable price. Nanostructured and formless materials are used more frequently in various end-user production facilities. The cold gas spray coating's recyclable end waste is paving the way for long-term technology adoption and is anticipated to increase product demand during the projection period significantly.
Restraints: drawbacks associated with cold gas spray coating.
The primary drawback results from the plastic deformation process, which reduces the coating's ductility. This will impede the market’s growth by limiting applications across industries.
Opportunities: urbanization.
In addition, rising incomes, rapid urbanisation, the development of the middle class, and a change in consumer spending priorities in developing countries like China and India are all predicted to increase demand for consumer electronics in the near future, which will bode well for the market's growth.
Challenges: COVID-19 pandemic.
The reeling effects of the COVID-19 pandemic on the economy, followed by wars and geopolitical tensions, will impact the market's growth.
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Some of the major players operating in the global cold gas spray coating market are:
• ASB Industries, Inc.
• Bodycote
• Curtiss-Wright Surface Technologies
• Flame Spray Technologies B.V.
• Inovati
• Medicoat AG
• Plasma Giken Co., Ltd.
• Praxair S.T. Technology, Inc.
• Rus Sonic Technology, Inc.
• VRC Metal Systems, LLC
Key Segments covered in the market:
By Technology
• Low Pressure
• High Pressure
By End Use
• Electrical & Electronics
• Transportation
• Oil & Gas
• Medical
• Utility
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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