Press release
Laser Cladding Market Size Worth USD 1,053.0 Million, Globally, by 2030 at 9.4% CAGR
Laser Cladding Market | Emergen Research
For many years, laser cladding has been utilized in a wide range of sectors to improve functional surfaces of metal components. It is a weld build-up process that readily surpasses conventional welding processes, such as Tungsten Inert Gas (TIG) for advanced weld repair applications and Plasma Transferred Arc (PTA) welding, in present days. Laser cladding enables power densities not normally feasible with conventional thermal techniques, resulting in minimal heat input, minimal deformation, and avoidance of post-weld heat treatments. In addition, growing adoption of laser cladding technologies over conventional lasers is expected to drive revenue growth of the market. Various companies are introducing advanced laser cladding technologies in the market. For instance, in August 2020, Bilsing Automation, a Germany-based automotive stamping and material handling solutions provider announced the introduction of EHLA, which is a high-speed Laser Metal Deposition (LMD) laser cladding technique that helps shield components from corrosion and wear. In comparison to hard chrome plating, thermal spraying, and conventional LMD, this technique offers a quicker, more affordable, and ecologically friendly option for coating surfaces.
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In December 2021, Australian researchers invented laser cladding solutions that could be used to repair damaged railways on a massive scale in remote locations. The approach, published in Journal of Materials Processing Technology has the potential to extend rail service life while reducing costs and maintenance time. This method appears to be superior to traditional arc-weld-based cladding operations, which is most often used for repairing wear damage in rails.
Some Key Highlights from the Report
The iron-based alloys segment revenue is expected to increase at a steady rate over the forecast period. Laser-cladding process of an iron-based alloy on steel reduced the number of cracks. In addition, this alloy with completely metallurgical bonds to the substrate provides an economical and environment-friendly alternative, which makes it popular in various industrial applications.
The automotive segment is expected to register a steady revenue growth rate over the forecast period due to rising adoption of laser cladding in automotive applications. Laser cladding for production of automotive parts is becoming an industry standard and important procedure for a variety of automotive applications. This technology is also used to repair high-volume automotive components.
The Asia Pacific market accounted for largest revenue share in the global laser cladding market in 2021. This is due to rising demand for laser cladding technologies in aerospace and automotive industries in countries in this region, especially in China, Japan, and India. China is one of the world's top automotive producers. According to China Association of Automobile Manufacturers (CAAM), overall vehicle sales in China in 2022 is expected to reach 27.5 million units.
Some major companies in the global market report include OC Oerlikon Management AG, TRUMPF, IPG Photonics Corporation, Coherent, Inc., Höganäs AB, Curtiss-Wright Corporation, Laserline GmbH, Titanova, Inc., Hardchrome Engineering, and LaserBond Ltd.
On 03 January 2022, Oerlikon, the leading provider of surface technologies company planned to add laser cladding and thermal spray capabilities to its current world-class additive manufacturing facility. The Huntersville location's experienced personnel and company's extensive history of laser cladding solution development will service aerospace, energy, and automotive industries, among others. In addition, the company is constantly developing novel materials that are optimal for laser cladding process.
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Emergen Research has segmented the global laser cladding market based on type, materials, revenue, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Diode laser
CO2 laser
Acoustic laser
Fiber laser
Others
Materials Outlook (Revenue, USD Million; 2019-2030)
Cobalt-based alloys
Iron-based alloys
Nickel-based alloys
Carbides & carbide blends
Others
Revenue Outlook (Revenue, USD Million; 2019-2030)
System revenue
Laser revenue
End-use Outlook (Revenue, USD Million; 2019-2030)
Oil & gas
Automotive
Mining
Aerospace & defense
Power generation
Others
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Regional Outlook (Revenue, USD Million; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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The report addresses the following key points:
The report estimates the expected market size from 2020-2027
The report provides a forecast of market drivers, restraints, and future opportunities for the Laser Cladding market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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