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Laser Cladding Market

Laser Cladding Market Size, Share & Segmentation By Type (Diode Laser, CO2 Laser, Fiber Laser, Acoustic Laser, Others) By Revenue (Laser, System) By Materials (Nickel-Based Alloys, Carbides & Carbide Blends, Cobalt-Based Alloys, Iron-Based Alloys) By End Use Industry (Oil & Gas, Aerospace & Defense, Power Generation, Mining, Automotive, Others), By Regions And Global Forecast 2023-2030

Report Id: SNS/SEMI/2137 | July 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Laser Cladding Market Size will be valued at USD 1106 million by 2030, and it was valued at USD 527.61 million in 2022, and grow at a CAGR of 9.7% over the forecast period 2023-2030.

The process of cladding involves restoring the finish or surface of objects, components, or objects that have become worn through repeated use. By adding a fresh surface layer on top of the basic material, refurbishment or revision improves the object's aesthetics and functionality. A high-powered laser beam is used in the laser cladding process to melt the coating material and a thin substrate layer, resulting in a coating that is 50–2 mm thick, pore– and crack–free, and properly adhered to the substrate. Little porosity is provided by laser cladding, which produces good long-term corrosion resistance. It also facilitates a thicker build-up in one pass. Its overlapping passes work together to produce a high-quality board with little post-process machining and low metal dilution. Additionally, laser cladding offers a metallurgical bond at a lower temperature with a typical tiny heat affected area of 0.03.

Laser Cladding Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • Increasing need for quick production and additive manufacturing.

  • Laser cladding applications using fiber lasers are becoming more prevalent.

  • Gradual conversion to laser cladding from traditional laser technology.

RESTRAINTS:

  • Utilization of rare earth elements raises environmental problems.

  • High implementation expenses and a shortage of technical experts in staff.

OPPORTUNITIES:

  • The innovation of advanced laser cladding systems.

  • Adoption of laser cladding techniques in the automotive and aviation sectors.

CHALLENGES: 

  • Laser cladding's slow industrial adoption.

IMPACT OF COVID-19: 

The effects of COVID-19 on the laser cladding market and consumer demand have a devastating effect on the laser industry. It is believed that laser production will fall beyond expectations in the short term, as most laser manufacturers and suppliers of raw materials are based in China. China continues to be a major supplier of sub-components for the laser sector, including laser sources, galvanometers, output couplers, and other components. There has been a disruption in the supply of parts due to this epidemic, which has led to limited supply of laser products. Some laser manufacturers could momentarily raise the cost of their products. The immediate effect is that the lack of supply may cause undue pressure on the values ​​of the laser systems. Future supply chain problems in China will need to be investigated by laser system producers. Since June 2020, the effects of the supply chain disruption have been felt as other nations, such as the US, India, Germany, and the UK, have also been severely impacted by COVID-19. The market for laser cladding suffered as a result in 2020–2021. However, with the improvement of the situation, production is expected to return to normal gradually over the next few months, ensuring the normal supply of laser systems.

Based on Type, the laser cladding market is segmented into Diode laser, CO2 laser, Fiber laser, Acoustic laser and Others The market for diode laser cladding is anticipated to account for the largest market share throughout the forecasted period. In recent years, high-power direct diode lasers (DDL) have become very popular and widely used in thermal processing systems. When compared to more traditional forms of calculators like carbon dioxide (CO2) and yttrium aluminium garnet (YAG) calculators, DDLs have a high energy efficiency. Therefore, part of the diode lasers are expected to hold the highest market share.

Based on Revenue, the laser cladding market is segmented into Laser and System. The laser revenue market is expected to grow at a very high CAGR at the time of forecasting. Revenue from the sale of various kinds of lasers, including YAG lasers, fibre lasers, diode lasers, and CO2 lasers, for use is included in the category of laser revenue. Each of these has applications for every few end user industries, such as aerospace and defense, automotive, and mining. Over the years, several laser manufacturers have secured contracts to bring in laser applications.

Based on End Use Industry, the laser cladding market is segmented into Oil & gas, Aerospace & Defense, Power Generation, Mining, Automotive and Others. The end-use sector for aerospace and military is anticipated to see the greatest CAGR between 2022 and 2028. One of the earliest sectors to adopt laser cladding was the aerospace sector. The most crucial components of an aviation engine are covered in lasers. Leading engine producers brought cold spray, laser cladding, and 3D printing to the aerospace sector.

COMPETITIVE LANDSCAPE:

The key players in the laser cladding market are TRUMPF, OC Oerlikon Management, YANMAR HOLDINGS, Photonics Corporation, Han’s Laser Technology Industry, Hoganas, Lumibird, Lumentum Operations, Curtiss-Wright Corporation, IPG Photonics Corporation and LaserBond Ltd, and other players.

MARKET SEGMENTS:

BY TYPE

  • Diode laser

  • CO2 laser

  • Fiber laser

  • Acoustic laser

  • Others

BY REVENUE

  • Laser

  • System

BY MATERIALS

  • Nickel-based alloys

  • Carbides & Carbide blends

  • Cobalt-based alloys

  • Iron-based alloys

BY END-USE INDUSTRY

  • Oil & gas

  • Aerospace & Defense

  • Power Generation

  • Mining

  • Automotive

  • Others  

Laser Cladding Market Segment Pie Chart

REGIONAL ANALYSIS:

The laser cladding market in APAC is expected to grow at a very high CAGR during the forecast period. Major countries that contribute to the APAC laser processing market include China, Japan, South Korea and India. APAC has been at the forefront of adoption of laser processing solutions compared to other regions. The development of sophisticated laser cladding applications has given rise to several public and commercial sector projects. The increase in R&D investment in laser technology and the growing manufacturing and electronics sectors, combined with overcrowding, is expected to further boost the laser cladding market in the region.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Laser Cladding Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 527.61 Mn
Market Size by 2030 US$ 1106 Mn
CAGR  CAGR of 9.7% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Diode Laser, CO2 Laser, Fiber Laser, Acoustic Laser, Others)
• By Revenue (Laser, System)
• By Materials (Nickel-Based Alloys, Carbides & Carbide Blends, Cobalt-Based Alloys, Iron-Based Alloys)
• By End Use Industry (Oil & Gas, Aerospace & Defense, Power Generation, Mining, Automotive, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles TRUMPF, OC Oerlikon Management, YANMAR HOLDINGS, Photonics Corporation, Han’s Laser Technology Industry, Hoganas, Lumibird, Lumentum Operations, Curtiss-Wright Corporation, IPG Photonics Corporation and LaserBond Ltd
Key Drivers • Increasing need for quick production and additive manufacturing.
• Laser cladding applications using fiber lasers are becoming more prevalent.
• Gradual conversion to laser cladding from traditional laser technology.
Restraints • Utilization of rare earth elements raises environmental problems.
• High implementation expenses and a shortage of technical experts in staff.


Frequently Asked Questions (FAQ) :

The Laser Cladding Market size was valued at 481 million in 2021 at a CAGR of 9.7%.

The market Size will be valued at USD 919 million by 2028.

The market has been segmented with respect to type, revenue, material, and end-use industry.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Laser Cladding Market Segmentation, by Type

8.1Introduction

8.2 Diode laser

8.3 CO2 laser

8.4 Fiber laser

8.5 Acoustic laser

8.6 Others

 

9. Laser Cladding Market Segmentation, by Revenue

9.1Introduction

9.2 Laser

9.3 System

 

10. Laser Cladding Market Segmentation, by Materials

10.1 Introduction

10.2 Nickel-based alloys

10.3 Carbides & Carbide blends

10.4 Cobalt-based alloys

10.5 Iron-based alloys

 

11. Laser Cladding Market Segmentation, by End Use Industry

11.1 Introduction

11.2 Oil & gas

11.3 Aerospace & Defense

11.4 Power Generation

11.5 Mining

11.6 Automotive

11.7 Others  

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profiles

13.1 Lumentum Operations

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 TRUMPF

13.3 OC Oerlikon Management

13.4 YANMAR HOLDINGS

13.5 Photonics Corporation

13.6 Han’s Laser Technology Industry

13.7 Hoganas

13.8 Lumibird

13.9 Curtiss-Wright Corporation

13.10 IPG Photonics Corporation

13.11 LaserBond Ltd

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15.Conclusion

 

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Secondary Research

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