NEWARK, Del, Sept. 07, 2023 (GLOBE NEWSWIRE) — The global cold gas spray coatings market is valued at US$ 1.1 billion in 2023. The market is expected to reach US$ 1.6 billion by the year 2033 at a CAGR of 4.4% between 2023 and 2033.
Cold gas spray coating is indispensable for the automotive and aerospace verticals as it plays a vital role in lessening the sustainability costs herein, as replacement costs of corroded and damaged aircraft components could also be eliminated.
Advanced nanostructured and amorphous materials are being used in several verticals, including electronics, electrical, and medicine. As nano-crystalline materials are sensitive to temperature, cold gas spray could be used effectively without harming their advantageous microstructure.
High-pressure technology dominates the cold gas spray coating market, and the scene is expected to remain the same even going forward.
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At the same time, the fact that cold gas spray coating gets adversely impacted by ore extraction processes’ costs can’t be ignored. This factor could restrain the cold gas spray coating market in the forecast period.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Cold Gas Spray Coatings Market.’ It has its team of analysts and consultants to look through the macros and micros of the cold gas spray coating market.
“With sustainability being the top priority, the demand for cold gas spray coating market is expected to grow on an exorbitant note during the forecast period”, insights shared by our key consultant at Future Market Insights.
Key Takeaways from Cold Gas Spray Coating Market
- North America holds the largest market share, with the United States being subject to conducive government regulations related to the usage of high-class and lightweight components in the automotive sector as substitutes for metals and alloys.
- Europe holds a significant market share, with the United Kingdom, France, Germany, and Russia leading from the front, especially for satellite and aircraft components.
- Asia Pacific is expected to grow fastest in the cold gas spray coating market, with regions like India, Japan, and China primarily using cold gas spray coatings to repair and coat polymer and metal components and extend durability and operational life.
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Competitive Cold Gas Spray Coating
- VRC Metals, in July 2022, did unleash the C.A.M.P Site cold spray system.
- Hannecard, in January 2021, did join forces to operate under the name ‘Hannecard Roller Coatings, Inc.’ The companies would be sharing their technology expertise to expand their services and portfolios.
- EWI, in November 2021, announced the launching of its cold spray research center to unlock cold gas spray coating market potential.
- Oerlikon, in March 2023, did acquire Riri to expand its offerings, in coatings in particular, significantly.
Key Companies Profiled
- Plasma Giken Co., Ltd.
- VRC Metal Systems, LLC
- Curtiss-Wright Surface Technologies
- Praxair S.T. Technology, Inc.
- ASB Industries, Inc.
- Fujimi Incorporated
- Oerlikon Metco
- Flame Spray Technologies B.V
- Polymet Corporation
What does the Report Cover?
- The research study is based on technology (high pressure and low pressure), and end-use (transportation, aerospace, automotive, electrical & electronics, oil & gas, utility, medical, and likewise).
- The aerospace vertical is the cornerstone of the cold gas spray coating market, and the scenario is expected to remain unchanged even in the forecast period.
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Global Cold Gas Spray Coating Market Segmentation
- High Pressure
- Low Pressure
By End Use:
- Electrical & Electronics
- Oil & Gas
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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