Report : North America and Europe Uniaxial Diffusion Bonding Furnace Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Ceiling Temperature (Equal or Greater than 1800 C and Less than 1800 C), Application (Aerospace, Automotive, Medical, Energy & Power, Tools & Dies, and Others), and Region
According to our latest study on "Uniaxial Diffusion Bonding Furnace Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Ceiling Temperature and Application," the market is projected to grow from US$ 140.46 million in 2022 to US$ 230.74 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.
Increasing Strategic Initiatives by Market Players Fuel The Uniaxial Diffusion Bonding Furnace Market Growth
Several players in the North America and Europe uniaxial diffusion bonding furnace market are adopting organic and inorganic growth strategies such as mergers & acquisitions, product development, and geographical expansion. PVA TePla AG, TWI Ltd, TAV Vacuum Furnaces, Materials Research Furnaces LLC, Ipsen, and IHI Machinery and Furnace Co Ltd are among the major market players. A few market initiatives are:
- In November 2022, PVA TePla AG acquired MPA Industrie SA in La Chapelle d'Aurec, France. It will strengthen the PVA TePla Group's industrial plant engineering business with mature processes for silicon carbide components and SiC layers in the industrial and semiconductor sectors.
- In September 2022, Centorr Vacuum Industries announced it is building six (6) furnaces in its Workhorse product line for various applications in the precision processing of metals in heat treating, brazing, and annealing applications.
- In February 2022, Ipsen announced the expansion of its field service capabilities to include ultrasonic wall thickness testing for vacuum furnaces. The test helps customers verify the integrity of their chamber and determine its remaining lifespan. Vacuum chamber wall thickness testing is a service provided by Ipsen's Field Service Engineers using ultrasonic inspection instrument. This method requires only the removal of a small amount of paint at each desired test point.
The above-mentioned strategic initiatives undertaken by the market players are boosting the uniaxial diffusion bonding furnace market growth in North America & Europe.
The US and other North American countries were severely impacted due to the COVID-19 pandemic. The manufacturing sectors across the region were operating at a low capacity to combat the virus's infection spread, resulting in low production volume in the first two quarters of 2020. The decrease in production volume across aerospace, automotive, and tools & die industries owing to labor shortage and supply chain disruption dropped the demand for uniaxial diffusion bonding furnaces. The region is a home to several uniaxial diffusion bonding furnace market players. These companies witnessed a decrease in production volume in 2020 owing to supply chain disruptions, which delayed the supply of raw materials and other components. However, the normalization of the economy and reopening of trade borders aided the market in reviving since Q3 of 2020.
Key Findings of Study:
The uniaxial diffusion bonding furnace market is segmented on the basis of ceiling temperature, application, and region. Based on ceiling temperature, the uniaxial diffusion bonding furnace market is bifurcated into equal or greater than 1800 C and less than 1800 C. In terms of application, the uniaxial diffusion bonding furnace market is bifurcated segmented into aerospace, automotive, medical, energy and power, tools and dies, and others. Based on region, the uniaxial diffusion bonding furnace market is segmented into North America, and Europe.
Based on application, the uniaxial diffusion bonding furnace market is bifurcated segmented into aerospace, automotive, medical, energy and power, tools and dies, and others. Uniaxial diffusion bonding process is extensively used in the aerospace industry to integrate composites to advanced alloys for functional, structural, and thermal management applications such as fuel cells, heat exchangers, gas turbines, fuel injectors, and other systems. Titanium and its alloy have been widely used in the aerospace industry for manufacturing structural components of wings and hydraulics systems in aircraft, due to its advantages, such as corrosion resistance, mechanical properties, high temperature resistance, low temperature resistance, and exceptional specific strength. The performance requirements for titanium and aluminium and copper components are important in the aerospace industry. So, the joining of titanium, aluminium, and copper alloy to form compound structure is necessary. Diffusion bonding is suitable for connecting titanium alloy and other metals due to its high joining quality in the aerospace industry. As the demands for materials required for aircraft manufacturing increases, the demands for techniques used to join them also increases, which is acting as a major driver for the growth of the North America and Europe uniaxial diffusion bonding furnace market in the application segment.
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