Spray Pyrolysis Market worth $234.2 million by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Dec. 16, 2024 /PRNewswire/ -- The report "Spray Pyrolysis Market by Device Type (Ultrasonic Spray Pyrolysis System, High-Throughput Spray Pyrolysis System), Process, Application, End-Use Industry (Energy & Utilities, Electronics & Semiconductors), and Region - Global Forecast to 2029", size is projected to grow from USD 167.3 million in 2024 to USD 234.2 million by 2029, registering a CAGR of 7.0% during the forecast period. The spray pyrolysis market is experiencing significant growth due to increasing demand from various major economies for different applications in different end use industries such as electronics & semiconductors, energy & utilities and other end use industries as well. Growing economies in Asia Pacific region and government support and the need for sustainable practices are driving industries. Additionally, the rapid expansion of solar and battery industry, which require spray pyrolysis system in various applications, is further propelling the market.

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210 – Tables
46 – Figures
213 – Pages

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Nanoparticle Synthesis is expected to have second highest CAGR in terms of value during the forecast period.

Spray Pyrolysis techniques are very effective for nanoparticle synthesis It enables precise control over particle size, composition, and morphology. By atomizing precursor solutions and subjecting them to very high temperatures, it produces uniform nanoparticles with specific properties, essential for various applications. It is mostly used in industries such as pharmaceuticals, electronics, energy for drug delivery systems, conductive and magnetic materials, and catalysts and battery materials respectively. Its ability to create pure nanoparticles make it a valuable technology in developing solutions across various segments.

Electronics & Semiconductors end use industry is anticipated to have the second largest in terms of value, during the forecast period.

Electronics & semiconductors end use industry is estimated to have second largest in end use industry segment in terms of value. The demand for compact, sophisticated electronic devices that are efficient is on the rise. To meet these increasing needs, the electronics and semiconductors sector relies heavily on spray pyrolysis systems for making high-performance thin films, nano-coated materials and wide bandgap and semiconducting films. These films have extensive applications in manufacturing various critical components in electronics such as sensors, transistors, LEDs and display devices. Furthermore, spray pyrolysis is increasingly preferred in the deposition of materials since it allows for the uniform coatings with the required characteristics.

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Asia Pacific is expected to be the fastest-growing region in the global spray pyrolysis market in terms of value, by region, during the forecast period.

The Asia Pacific region is expected to be the fastest growing region in the spray pyrolysis market in terms of value. The Asia Pacific spray pyrolysis market is driven by the economic development and growth in various countries in this region. The low-cost raw materials and labour coupled with an increasing demand from the energy & utilities, electronics & semiconductors, pharmaceutical & biotechnology and chemical industries will make this region very attractive for investment by spray pyrolysis system manufacturers. Government initiatives such as Make in India, China's Made in 2025, and Japan's Green Growth Strategy drive the market in Asia Pacific Region. Also, the strong focus on nanotechnology in this region backed by huge funding for innovation in material science further boosts the market.

Key Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the spray pyrolysis market. These are Hansun (China), Sono-Tek Corporation (US), MTI Corporation (US), Zhengzhou CY Scientific Instrument Co., Ltd. (China), Acmefil Engineering Systems Pvt. Ltd. (India), Holmarc Opto-Mechatronics Ltd. (India), Cheerssonic Ultrasonic Equipments Co., Ltd. (China), Siansonic (China), Navson Technologies Pvt. Ltd. (India), and Shanghai Huashao Intelligent Equipment Co., ltd. (China).

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