Ultrasonic Coating Systems Market Size, Share, Growth, and Industry Growth, By Type (Rotary-Type Ultrasonic Coating Systems and Flat-Type Ultrasonic Coating Systems), By Application, (Bio and Med, Electronics and Energy, Industrial, and Others), Regional Forecast (2022-2028)

REPORT OVERVIEW

The global ultrasonic coating systems market size was USD 15.23 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with ultrasonic coating systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 27.43 billion by 2028, exhibiting a CAGR of 10.3% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Ultrasonic coating systems are industrial-grade coating equipment, an environment-friendly, unique, and low-velocity spray technology that creates thickness of micron, very uniformly protective, and functional thin films with very little overspray and no clogging. It is made to meet the production needs of medium and small batches. It has less material consumption and can overspray up to 80%. It is a highly controllable spray pattern for consistent and reliable results. These systems have a corrosion-resistant construction couple with ultra-low flor rate capabilities. 

Ultrasonic coating systems replaced the conventional coating systems in a wide range of R&D and industrial applications. It also enabled spray processes that were not possible otherwise. It features soft atomized, low-velocity spray that does not affect the delicate components that stick readily to surfaces and can easily penetrate complex shapes for excellent coverage. These systems are easily controllable and significantly reduce the coating amount. It is used to prepare uniform and controllable film coatings and is applied in a spray pyrolysis field. Raw materials' ultrasonic coatings transfer efficiency is four times higher than air spray coating. 

COVID-19 Impact: Lack of raw material supply to Impede market growth

The pandemic impacted every market and the machinery and equipment sector was also not an exception. The spread of COVID-19 resulted in stringent rules and guidelines to avoid the virus spread. These guidelines included shutting down the manufacturing industries, which affected the market's growth rate. Disruption in manufacturing and supply chain was noticed. The workforce witnessed a downfall due to their health concern. Even though the pandemic supplemented most workforce to work from their homes, the limited budget deemed the work rate. The demand for machinery and equipment witnessed a downfall due to low manufacturing and supply.

LATEST TRENDS

"Adoption of Products in Various Industries to Drive Market Trends"

Wide applications of the product are anticipated to drive growth in the market. The ultrasonic coating systems market share is anticipated to grow due to the adoption of the product in the electronics, medical, energy, and industrial sectors. These systems are used to manufacture sensors, displays, semiconductors, glass, fabrics, fuel cells, and others. Additionally, the rising demand for protective coatings coupled with the rising usage of corrosion coatings is forecasted to propel market growth. 

Segmentation

• By Type Analysis

By type, the market is segmented into Rotary-type ultrasonic coating systems and flat-type ultrasonic coating systems. 

Rotary-type is anticipated to grow at a higher rate by higher demand for the product in various electronics and energy, bio and medical, and others. 

• By Application Analysis

Based on application, the market is classified into bio and med, electronics and energy, industrial, and others. 

DRIVING FACTORS

"Various Product Benefits to Drive Growth in the Market"

The adoption of the Ultrasonic coating systems is expected to gain traction due to its various benefits. These systems are constructed to be corrosion-resistant and designed to have low maintenance rate capabilities, which boosts their adoption. Additionally, the market is forecasted to grow by a reduced amount of overspray since the settlement on the substrate. Furthermore, the rising demand for environment-friendly coatings is also anticipated to propel market growth. 

"Rising Demand for High-Quality Coating to Boost Market Growth"

The rising demand for high-quality coatings in various industries is anticipated to support the expansion of the ultrasonic coating system's market share. Moreover, the market is also anticipated to escalate due to rising investment in the system's R&D activities. Furthermore, wide application of the system is anticipated to surge market growth. Increasing demand for durable products is forecasted to propel market growth.

RESTRAINING FACTORS

"High Cost and Technical Constraints of the Product to Impede Market Growth"

The market may experience resistance to growth due to technical issues in the system, the presence of non-uniform laws & regulations, and limited endurance are expected to hinder the market's growth. Moreover, the high cost of the product is also anticipated to hinder the ultrasonic coating systems market growth. Additionally, it is difficult to use these coating in thin materials, which will likely hinder the market expansion. This coating system needs a smooth surface to function properly, which is likely to be another factor that hinders market growth.

REGIONAL INSIGHTS

"North America to Dominate Due to The Development of Client-Driven Items"

North America is forecasted to lead the ultrasonic coating systems market growth through outsider managers and administration organization efforts to develop client-driven items to meet customer demand. These items are expected to add new developments for efficient marketing cases in the regions. 

Asia Pacific is anticipated to show sizeable growth due to the steady development of infrastructure and the adoption of automation in manufacturing industries in some emerging countries such as India and China. The countries of this region are involved in the manufacturing of defense aircraft, which is expected to boost the coating systems equipment and services. 

KEY INDUSTRY PLAYERS

"Major Players to Emphasize Gaining Collaborations and Mergers to Grow "

Key market players strive to adopt strategies that offer long-term growth to the company. The companies also emphasize enhancing the product portfolio by launching advanced products. The key competitors are making various analytical approaches. Major players also emphasize boosting their presence through investments, partnerships, agreements, joint ventures, expansions & investments, and partnerships. The approaches include SWOT analysis, Porter's Five Forces, and other organic approaches. Additionally, they emphasize strengthening their distribution networks across various regions to gain a competitive advantage. 

List of Market Players Profiled

• Sono-Tek (U.S.)
• USI (U.S.)
• MTI (U.S.)
• Siansonic (China)
• Sonaer (Switzerland)
• Noanix (South Korea)
• Nadetech (Spain)
• Optosense (Norway)

INDUSTRY DEVELOPMENT

• January 2020- Sono-tek, one of the leading manufacturers and developers of ultrasonic coating systems, launched FlexiCoat EMI, a new ultrasonic coating system. It is specifically designed for EMI material shielding's conformal spraying onto semiconductor packages. 

REPORT COVERAGE

The report gives an overview of the research methodology, market dynamics, and an industry value chain analysis. The report covers market drivers and the challenges expected to hinder market growth. Additionally, the report includes an assessment of the pandemic and the segmentation of the market on the basis of type and applications. Furthermore, the report represents the dominant segment, and it also covers the reason that supports the dominating segment.