Global cold gas spray coating sales revenue is expected to total USD 1.1 billion in 2023. Over the forecast period from 2023 to 2033, global cold gas spray coating demand is predicted to rise at a 4.4% CAGR.
By 2033, the global cold gas spray coating market size is set to reach USD 1.6 billion. It is predicted to create an absolute $ opportunity of USD 560.0 million over the projection period.
Demand is expected to remain high for high-pressure cold gas coating technology during the assessment period. This is due to its several advantages including higher coating density and improved adhesion.
The high pressure segment grew at a 5.6% CAGR historically from 2018 to 2022. In the forecast period, it is projected to thrive at a CAGR of 4.2%.
A material processing technique used to apply coatings to several surfaces is referred to as cold gas spray coating or supersonic particle deposition. This coating deposition technology is becoming an ideal alternative to other conventional technologies due to its multiple benefits.
Cold gas spray coating utilizes kinetic energy for coating material rather than thermal energy. In this technique, solid powders are accelerated above a critical velocity by using a carrier gas such as helium or nitrogen for particle adhesion.
The ability of cold gas spray coating to operate at much lower temperatures preserves the properties of the material being sprayed. As cold spray can easily deposit temperature-sensitive materials, it is becoming a popular technique for preparing coatings.
Few of the benefits of cold gas spray coating technology that are encouraging its adoption include versatility, dense coating, reduced oxidation, low energy consumption, etc.
Cold gas spray coatings can be used with a variety of materials such as metals, polymers, composites, and ceramics. This versatility of cold gas spray coating makes it applicable in sectors such as medical devices, aerospace, automotive, and electronics.
Unlike traditional thermal spray techniques, cold spray coatings exhibit higher density and lower porosity. Owing to these multiple benefits, cold gas spray coating is becoming an ideal coating technology across the globe.
Rising application of cold gas spray coating across sectors such as automotive, electronics, and aerospace is expected to drive the target market forward during the forecast period.
| Attributes | Key Insights |
|---|---|
| Estimated Global Cold Gas Spray Coating Market Value (2023) | USD 1.1 billion |
| Projected Size (2033) | USD 1.6 billion |
| Value-based CAGR (2023 to 2033) | 4.4% |
| United States Market CAGR (2023 to 2033) | 4.3% |
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According to a Future Market Insights (FMI) analyst, the global cold gas spray coating industry experienced a steady CAGR of 5.7% historically from 2018 to 2022. It attained a valuation of about USD 1.0 billion at the end of 2022. In the forecast period, global demand for cold gas spray coating is expected to rise at a 4.4% CAGR.
| Data Points | Key Statistics |
|---|---|
| Market Value in 2018 | USD 801.1 million |
| Market Value in 2022 | USD 1 billion |
| CAGR from 2018 to 2022 | 5.7% |
The emergence of cold gas spray coating has set new standards in coating technologies across the globe. This technology allows companies to apply a wide range of materials onto substrates without significant thermal degradation.
Increasing usage of cold gas spray coating for depositing new and advanced materials such as ceramics, composite materials, polymers, and specialized metals is expected to boost the target market through 2033.
Rising awareness about the benefits of cold gas spray coatings is another key factor expected to elevate demand in the global market.
Increasing usage of cold spray coatings in aerospace and automotive sectors for applications such as repair & maintenance is likely to create growth prospects for the target market.
Automotive and aerospace sectors are showing a keen interest in cold gas spray coating due to its tendency to provide excellent surface protection and improve properties of materials & components.
Principal Consultant
The below table highlights the market revenue by key countries and their respective growth rates. The United States, China, and Japan are the top three dominant markets with predicted valuations of USD 283.5 million, USD 383.5 million, and USD 310.0 million respectively in 2033.
While these three markets are expected to retain their dominance, countries such as South Korea and the United Kingdom are also expected to create lucrative opportunities for companies.
| Country | United States |
|---|---|
| Projected CAGR (2023 to 2033) | 4.3% |
| Market Value (2033) | USD 283.5 million |
| Historical CAGR (2018 to 2022) | 5.7% |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2023 to 2033) | 4.1% |
| Market Value (2033) | USD 60.2 million |
| Historical CAGR (2018 to 2022) | 5.5% |
| Country | China |
|---|---|
| Projected CAGR (2023 to 2033) | 4.3% |
| Market Value (2033) | USD 383.5 million |
| Historical CAGR (2018 to 2022) | 5.6% |
| Country | Japan |
|---|---|
| Projected CAGR (2023 to 2033) | 4.3% |
| Market Value (2033) | USD 310.0 million |
| Historical CAGR (2018 to 2022) | 5.5% |
| Country | South Korea |
|---|---|
| Projected CAGR (2023 to 2033) | 4.0% |
| Market Value (2033) | USD 92.8 million |
| Historical CAGR (2018 to 2022) | 5.1% |
The United States cold gas spray coating market registered a 5.7% CAGR during the historical period. Looking ahead, cold gas spray coating demand in the country is set to increase at 4.3% CAGR during the assessment period.
By 2033, the United States is predicted to exceed a valuation of USD 283.5 million. It is expected to generate an absolute $ growth of USD 97.4 million during the forecast period.
Increasing usage of cold gas spray coating across the booming aerospace & defense sector is a prominent factor driving the United States market forward. Similarly, rising demand for high-performance coatings in aerospace sector is expected to boost revenues in the country.
Thanks to its unique advantages and capabilities, cold gas spray coating technology is being widely used across the United States aerospace & defense sector.
In the aerospace & defense sector, cold gas spray coating can provide protective coatings, enhance performance, and repair & restore components.
Growing focus of aerospace & defense and automotive sectors on reducing weight of components and improving performance is another key factor fostering market development.
According to Future Market Insights (FMI), China is projected to dominate the global market during the forecast period. This is attributable to rapid expansion of the automotive and electronic sectors along with increasing adoption of cold gas spray coating in these sectors.
The China cold gas spray coating market is anticipated to thrive at a 4.3% CAGR through 2033. Historically, cold gas spray coating sales revenue in China rose at a 5.6% CAGR.
Over the forecast period, China market is expected to create an absolute $ opportunity of USD 131.8 million. By 2033, the cold gas spray coating industry in China is set to attain a valuation of USD 383.5 million.
China has become the leading automotive manufacturer in the world over the last few years and the trend is expected to continue through 2033. For instance, overall vehicle production in China reached around 27 million in 2022 as per the International Organization of Motor Vehicle Manufacturers (OICA).
Increasing production and sales of vehicles in turn is expected to uplift demand for cold gas spray coating. This is due to rising usage of cold gas spray coating technology for applications such as coating and repairing automotive parts & components.
According to a Future Market Insights (FMI) analyst, Japan cold gas spray coating market value is expected to reach USD 310.0 million by 2033. Overall demand for cold gas spray coating in Japan is likely to rise at a 4.3% CAGR until 2033.
Growth in the market is driven by rising popularity of electric vehicles, growing focus on reducing vehicle weight. Increasing government regulations aimed at encouraging the adoption of lightweight components and materials is also positively impacting the market.
Japan-based automakers are increasingly using cold gas spray coating for creating lightweight and high-performance components. This in turn is expected to boost the target market during the assessment period.
South Korea cold gas spray coating industry is anticipated to cross a valuation of USD 92.8 million by the end of 2033. It is set to create an absolute $ growth of USD 30.1 million over the forecast period.
From 2023 to 2033, cold gas spray coating sales revenue in South Korea is predicted to rise at a CAGR of 4.0%. Rising demand for consumer electronics is a key factor stimulating growth in South Korea cold gas spray coating industry.
Cold spray coatings are being applied to electronic components and products such as PCBs, transformers, and others. Hence, increasing production and sales of electronic devices due to rapid penetration of digitalization and industrialization is expected to boost South Korea market.
Table below shows high pressure to be leading segment in terms of technology. It is estimated that high-pressure cold spray technology segment will surge at 4.2% CAGR through 2033. On the other hand, low pressure cold spray technology segment will also witness significant growth.
| Top Segment (Technology) | High Pressure |
|---|---|
| Historical CAGR 2018 to 2022 | 5.6% |
| Projected CAGR 2023 to 2033 | 4.2% |
Based on technology, the global cold gas spray coating industry is segmented into high pressure and low pressure. Among these, high pressure technology is expected to remain highly popular owing to its multiple benefits.
As per Future Market Insights (FMI), high pressure segment is projected to thrive at 4.2% CAGR through 2033 in comparison to the 5.6% CAGR registered until 2022.
High pressure cold spray coating involves the use of compressed gas at high pressures to accelerate particles used for coating depositions. This technology is preferred due to its several benefits including improved particle acceleration, enhanced adhesion, higher coating density, less material waste, etc.
Below table indicates the transportation sector to remain the leading end user of cold gas spray coating during the forecast period. It is likely to exhibit a 4.1% CAGR followed by other segments like electrical & electronics and medical.
| Top Segment by End Use | Transportation |
|---|---|
| Historical CAGR 2018 to 2022 | 5.5% |
| Projected CAGR 2023 to 2033 | 4.1% |
Based on end use, transportation segment is expected to lead the global market for cold gas spray coating during the forecast period. This is due to rising adoption of cold gas spray coating for applications such as coating and repairing of components in automotive and aerospace sectors.
According to Future Market Insights (FMI), transportation segment witnessed a CAGR of 5.5% during the historical period. For the projection period, it is likely to thrive at 4.1% CAGR.
The adoption of cold gas spray coating results in a mechanical bonding mechanism which makes it ideal for a variety of applications in transportation sector. It is being widely used for coating and repairing applications due to its several advantages including excellent bonding.
Cold spray coatings provide optimal corrosion protection to several components and parts in the transportation sector. As a result, automotive manufacturers are increasingly employing cold gas spray coating processes.
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Leading cold gas spray coatings companies profiled in the report include Flame Spray Technologies B.V, Polymet Corporation, Plasma Giken Co. Ltd., Oerlikon Metco, Praxair S.T. Technology, Inc., Curtiss-Wright Surface Technologies, Bodycote, VRC Metal Systems, LLC, ASB Industries, Inc., and Fujimi Incorporated among others.
These companies are focusing on introducing novel solutions into the market to meet changing end user requirements. They also use tactics such as acquisitions, mergers, partnerships, distribution agreements, acquisitions, facility expansions, and collaborations to solidify their positions.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 1.1 billion |
| Projected Market Value (2033) | USD 1.6 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.4% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million/Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Technology, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Italy, Spain, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Plasma Giken Co., Ltd.; VRC Metal Systems, LLC; Curtiss-Wright Surface Technologies; Bodycote; Praxair S.T. Technology, Inc.; ASB Industries, Inc.; Fujimi Incorporated; Oerlikon Metco; Flame Spray Technologies B.V; Polymet Corporation |
The global market value totaled USD 1.0 billion in 2022.
The global market size is expected to reach USD 1.1 billion in 2023.
The global industry is predicted to reach a valuation of USD 1.6 billion by 2033.
The global market exhibited a CAGR of 5.7% from 2018 to 2022.
Global market demand is forecast to increase at a 4.4% CAGR through 2033.
Thriving at a 4.1% CAGR, transportation segment is expected to lead the market.
With a valuation of USD 383.5 million in 2033, China is set to dominate the global market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. High Pressure 5.2. Low Pressure 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 6.1. Transportation 6.1.1. Aerospace 6.1.2. Automotive 6.2. Electrical & Electronics 6.2.1. Power Electronic Heat Sinks 6.2.2. Refrigeration Value (US$ Million)s 6.2.3. Circuit Boards 6.2.4. Electrical Contacts 6.2.5. Electric Motors & Generators 6.2.6. Transformers 6.2.7. Semiconductors & Displays 6.2.8. Electro-plating 6.2.9. Bus bars Fluid Handling 6.3. Oil & Gas 6.3.1. Drilling Components 6.3.2. Gate Valves 6.4. Utility 6.4.1. Power Boilers 6.4.2. Gas and Hydro-Steam Turbine 6.4.3. Turbochargers 6.4.4. Solar Heat & Solar Energy Components 6.4.5. Nuclear 6.5. Medical 6.5.1. Orthopedic Prostheses 6.5.2. Dental Implants 6.5.3. Others 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Plasma Giken Co., Ltd. 17.2. VRC Metal Systems, LLC 17.3. Curtiss-Wright Surface Technologies 17.4. Bodycote 17.5. Praxair S.T. Technology, Inc. 17.6. ASB Industries, Inc. 17.7. Fujimi Incorporated 17.8. Oerlikon Metco 17.9. Flame Spray Technologies B.V 17.10. Polymet Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
Chemicals & Materials
October 2023
REP-GB-6134
309 pages
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Cold Gas Spray Coating Market
