Market Overview:
The global laser cladding material market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for laser cladding materials in various end-use industries, such as aviation, power generation, automotive & transportation, petrochemical processing, mining and construction. In terms of type, the cobalt based alloys segment is expected to lead the global laser cladding material market during the forecast period due to its superior properties such as high hardness and wear resistance. In terms of application, the aviation segment is projected to lead the global laser cladding material market during 2018-2030 owing to its growing demand from commercial and military aircrafts.
Product Definition:
Laser cladding is a material deposition process in which a laser beam is used to melt and deposit material onto a substrate. The deposited material can be the same or different from the materials that make up the substrate. Laser cladding has many applications, including repairing worn parts, depositing coatings for corrosion protection, and adding new features to components.
Cobalt Based Alloys:
Cobalt based alloys are a group of high strength, corrosion-resistant materials. They have applications in various end-use industries including aerospace & defense and automotive. The growing demand for lightweight vehicles is expected to be the key factor driving the market growth over the forecast period.
Cobalt based alloys are used as cladding material in laser cutting machines owing to their properties such as high stiffness, low thermal expansion coefficient along with good wear resistance and toughness at elevated temperatures.
Nickel Based Alloys:
Nickel based alloys are a group of metals with similar properties. They have high electrical and thermal conductivity, low density, and strong corrosion resistance. Nickel based alloys are used in applications such as cladding for laser systems, electronic equipment or heat exchangers where corrosion resistance is required along with high temperature stability. The material has the ability to absorb heat from the surroundings when it is exposed to high temperatures which can damage other materials that are not resistant to such conditions.
Application Insights:
The construction segment accounted for the largest revenue share of over 40% in 2017. The demand is expected to be driven by the growing residential and commercial construction activities across regions, especially in Asia Pacific and Middle East & Africa. In addition, rising population along with increasing disposable income is likely to fuel the growth over the forecast period.
Power generation was one of the major application areas accounting for a significant market share in 2017 owing to high product demand from HVAC industry applications such as air conditioning systems, heat ventilation air handling units (HVACU), refrigeration systems among others.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, and Japan. These countries are experiencing strong economic growth owing to rapid industrialization and urbanization. Growing population has led to increased demand for consumer goods as well as automobiles; which in turn has fueled industry expansion across this region.
The Middle East & Africa market is anticipated to grow at a significant rate over the forecast period owing to increasing investments from foreign players along with rising government spending on infrastructure development projects aimed at boosting trade activities within this region as well as with other regions around the world.
Growth Factors:
- Increasing demand for laser cladding materials from the automotive and aerospace industries due to the advantages offered by these materials over traditional manufacturing methods.
- Growing popularity of laser cladding as a repair and refurbishment technique in a number of industrial sectors.
- Rising research and development expenditure by leading players in the laser cladding material market to develop new and innovative products.
- Increasing adoption of laser cladding technology by small-and medium-sized enterprises (SMEs) owing to its low cost and easy operability.
Scope Of The Report
Report Attributes
Report Details
Report Title
Laser Cladding Material Market Research Report
By Type
Cobalt Based Alloys, Nickel Based Alloys, Iron Based Alloys, Carbides and Carbide blends, Others
By Application
Aviation, Power Generation, Automotive & Transportation, Petrochemical processing, Mining, Others, Construction
By Companies
Oerlikon Metco, Höganäs AB, Praxair S.T. Technology, Wall Colmonoy, FST, DURUM, Kennametal Stellite, Sentes-BIR, Hongbo Laser, AMC Powders, Henan Igood
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Laser Cladding Material Market Report Segments:
The global Laser Cladding Material market is segmented on the basis of:
Types
Cobalt Based Alloys, Nickel Based Alloys, Iron Based Alloys, Carbides and Carbide blends, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aviation, Power Generation, Automotive & Transportation, Petrochemical processing, Mining, Others, Construction
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Oerlikon Metco
- Höganäs AB
- Praxair S.T. Technology
- Wall Colmonoy
- FST
- DURUM
- Kennametal Stellite
- Sentes-BIR
- Hongbo Laser
- AMC Powders
- Henan Igood
Highlights of The Laser Cladding Material Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cobalt Based Alloys
- Nickel Based Alloys
- Iron Based Alloys
- Carbides and Carbide blends
- Others
- By Application:
- Aviation
- Power Generation
- Automotive & Transportation
- Petrochemical processing
- Mining
- Others
- Construction
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Laser Cladding Material Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Laser cladding material is a type of insulation that uses lasers to create a protective layer on the outside of an object. The laser creates small, uniform holes in the insulation, which allows heat and cold to pass through but prevents moisture from entering. This makes laser cladding material an effective way to protect objects from weather damage and corrosion.
Some of the major players in the laser cladding material market are Oerlikon Metco, HƒÂ¶ganƒÂ¤s AB, Praxair S.T. Technology, Wall Colmonoy, FST, DURUM, Kennametal Stellite, Sentes-BIR, Hongbo Laser, AMC Powders, Henan Igood.
The laser cladding material market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Laser Cladding Material Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Laser Cladding Material Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Laser Cladding Material Market - Supply Chain
4.5. Global Laser Cladding Material Market Forecast
4.5.1. Laser Cladding Material Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Laser Cladding Material Market Size (000 Units) and Y-o-Y Growth
4.5.3. Laser Cladding Material Market Absolute $ Opportunity
5. Global Laser Cladding Material Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Laser Cladding Material Market Size and Volume Forecast by Type
5.3.1. Cobalt Based Alloys
5.3.2. Nickel Based Alloys
5.3.3. Iron Based Alloys
5.3.4. Carbides and Carbide blends
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Laser Cladding Material Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Laser Cladding Material Market Size and Volume Forecast by Application
6.3.1. Aviation
6.3.2. Power Generation
6.3.3. Automotive & Transportation
6.3.4. Petrochemical processing
6.3.5. Mining
6.3.6. Others
6.3.7. Construction
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Laser Cladding Material Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Laser Cladding Material Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Laser Cladding Material Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Laser Cladding Material Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Laser Cladding Material Demand Share Forecast, 2019-2026
9. North America Laser Cladding Material Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Laser Cladding Material Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Laser Cladding Material Market Size and Volume Forecast by Application
9.4.1. Aviation
9.4.2. Power Generation
9.4.3. Automotive & Transportation
9.4.4. Petrochemical processing
9.4.5. Mining
9.4.6. Others
9.4.7. Construction
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Laser Cladding Material Market Size and Volume Forecast by Type
9.7.1. Cobalt Based Alloys
9.7.2. Nickel Based Alloys
9.7.3. Iron Based Alloys
9.7.4. Carbides and Carbide blends
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Laser Cladding Material Demand Share Forecast, 2019-2026
10. Latin America Laser Cladding Material Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Laser Cladding Material Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Laser Cladding Material Market Size and Volume Forecast by Application
10.4.1. Aviation
10.4.2. Power Generation
10.4.3. Automotive & Transportation
10.4.4. Petrochemical processing
10.4.5. Mining
10.4.6. Others
10.4.7. Construction
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Laser Cladding Material Market Size and Volume Forecast by Type
10.7.1. Cobalt Based Alloys
10.7.2. Nickel Based Alloys
10.7.3. Iron Based Alloys
10.7.4. Carbides and Carbide blends
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Laser Cladding Material Demand Share Forecast, 2019-2026
11. Europe Laser Cladding Material Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Laser Cladding Material Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Laser Cladding Material Market Size and Volume Forecast by Application
11.4.1. Aviation
11.4.2. Power Generation
11.4.3. Automotive & Transportation
11.4.4. Petrochemical processing
11.4.5. Mining
11.4.6. Others
11.4.7. Construction
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Laser Cladding Material Market Size and Volume Forecast by Type
11.7.1. CobaltBased Alloys
11.7.2. Nickel Based Alloys
11.7.3. Iron Based Alloys
11.7.4. Carbides and Carbide blends
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Laser Cladding Material Demand Share, 2019-2026
12. Asia Pacific Laser Cladding Material Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Laser Cladding Material Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Laser Cladding Material Market Size and Volume Forecast by Application
12.4.1. Aviation
12.4.2. Power Generation
12.4.3. Automotive & Transportation
12.4.4. Petrochemical processing
12.4.5. Mining
12.4.6. Others
12.4.7. Construction
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Laser Cladding Material Market Size and Volume Forecast by Type
12.7.1. Cobalt Based Alloys
12.7.2. Nickel Based Alloys
12.7.3. Iron Based Alloys
12.7.4. Carbides and Carbide blends
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Laser Cladding Material Demand Share, 2019-2026
13. Middle East & Africa Laser Cladding Material Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Laser Cladding Material Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Laser Cladding Material Market Size and Volume Forecast by Application
13.4.1. Aviation
13.4.2. Power Generation
13.4.3. Automotive & Transportation
13.4.4. Petrochemical processing
13.4.5. Mining
13.4.6. Others
13.4.7. Construction
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Laser Cladding Material Market Size and Volume Forecast by Type
13.7.1. Cobalt Based Alloys
13.7.2. Nickel Based Alloys
13.7.3. Iron Based Alloys
13.7.4. Carbides and Carbide blends
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Laser Cladding Material Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Laser Cladding Material Market: Market Share Analysis
14.2. Laser Cladding Material Distributors and Customers
14.3. Laser Cladding Material Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Oerlikon Metco
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Höganäs AB
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Praxair S.T. Technology
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Wall Colmonoy
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. FST
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. DURUM
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kennametal Stellite
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sentes-BIR
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hongbo Laser
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. AMC Powders
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Henan Igood
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
