Cold Spray Technology Market Revenue to Attain USD 2.01 Bn by 2033

02 Dec 2024

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Table of Content

1. Cold Spray Technology Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Cold Spray Technology Market 4. Cold Spray Technology Market Trends 5. Regional Snapshot 6. Cold Spray Technology Market Coverage 7. Market News

Cold Spray Technology Market Revenue and Trends 2023 to 2033

The global cold spray technology market revenue reached USD 1.09 billion in 2024 and is predicted to attain around USD 2.01 billion by 2033 with a CAGR of 7.06%. The demand for the cold spray technology market is increasing due to the growing application of this technology in the aerospace industry.

Market Overview

The cold spray technology market is the industry for advanced techniques of cold spray, which utilizes compressed gas to expel metal particles at high speed onto the material. The cold spray coating is utilized to fix structural and corrosive elements, which cannot be discarded with welding. Generally, cold spray coating technology is used over the thermal spray method because it decreases porosity, increases hardness, improves adhesion strength, and fixes feedstock powder properties.

Report Highlights of the Cold Spray Technology Market

• By material, the aluminum segment dominated the market in 2023. The dominance of the segment can be credited to the extensive features of this metal, such as great ductility and low density.
• By material, the titanium segment is expected to grow at the fastest rate in the market over the forecast period. The growth of the segment can be attributed to the titanium's good biocompatibility, high strength, and greater corrosion resistance properties.
• By service, the cold spray coatings segment accounted for the majority share of the market in 2023. The dominance of the segment is due to the ability of cold spray coatings to prevent oxidation and other chemical reactions.
• By service, the cold spray additive manufacturing (CSAM) segment is anticipated to grow at the fastest rate over the projected period. The growth of the segment can be driven by the rising demand for sustainable solutions.
• By end use, in 2023, the aerospace segment held the largest share of the global market. The dominance of the segment can be linked to the increasing application scope of this technology.
• By end use, the electrical and electronics segment is estimated to grow rapidly in the market during the forecast period. The dominance of the segment is because of the growing use of spray technology in many components such as refrigeration units and electrical contacts.

Cold Spray Technology Market Trends

Development of lightweight materials

Lightweight materials, like alloys and innovative composites, are utilized in different industries to enhance performance and reduce weight. The cold spray technology market services can be applied to these materials to improve their surface characteristics, including corrosion protection and wear resistance, without manipulating their lightweight properties. In addition, the continuous advancements in these materials, along with the diverse capabilities of cold spray techniques, are also important.

Less thermal impact

Cold spray techniques do not affect the substrate's thermal properties while applying the coating; this is the key benefit, especially for industries that have sensitive components to deal with. The cold spray technology market can be applied at temperatures that further prevent thermal degradation or distortion of the material. However, this less thermal impact saves the substrate's original properties like structural integrity and mechanical properties.

Increasing need for eco-friendly coatings

The increasing requirement for the cold spray technology market is being fuelled by rising environmental concerns. Compared to traditional thermal spraying techniques, cold spray is more eco-friendly because it deposits material close to room temperature. Furthermore, cold spray decreases waste by optimizing the effective utilization of supply. Therefore, manufacturers of cold spray techniques and equipment are focusing more on creating solutions that fulfill the need for sustainable coatings.

• In October 2024, Titomic Limited, based in Brisbane, Australia, was invited to join DNVs Joint Industry Project ProGRAM. The R&D program emphasizes standardizing Additive Manufacturing technologies. As part of this collaboration, Titomic will collaborate with DNV to create new standards for the sector. Cold spray technology will be used to produce parts and repair equipment. 

Regional Snapshot

North America dominated the global cold spray technology market in 2023. The dominance of the region can be credited to the rising demand for products manufactured using cold spray technology from the automotive and electronics industries. The region is also experiencing notable growth because of commodity abundance in its countries. Moreover, increasing investments in R&D activities for creating self-driving cars in countries like the U.S. and Canada are escalating market reach in the region.

Asia Pacific will witness the fastest growth in the cold spray technology market during the forecast period. The growth of the region can be attributed to the growing demand for cold spray technology from the automotive industry in emerging countries such as India and China. Furthermore, in India, the application of cold spray technology is expanding, particularly in the utility sector, as it has potential advantages. The region also has a thriving aerospace sector.

Cold Spray Technology Market Coverage

Market News

• In October 2024, Titomic, an Australia-based metal AM company that specializes in cold spray technology, earned a significant investment of AUD 30 million. The funding will support the opening of a new headquarters and production facility in Huntsville, Alabama.
• In June 2024, Australian metal 3D printer manufacturer SPEE3D declared the launch of its latest cold spray 3D printer, the TitanSPEE3D. Set to be unveiled this week at the Large-Scale Additive Action Team (LSAAT) meeting in Worcester, Massachusetts, the new system has a substantial build volume and design freedom.

Market Segmentation

By Material

• Nickel
• Copper
• Aluminum
• Titanium
• Magnesium
• Others

By Service

• Cold Spray Additive Manufacturing
• Cold Spray Coatings

By End-Use

• Aerospace
• Automotive
• Defense
• Electrical and Electronics
• Utility
• Others

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