Laser Cladding Market

Global Laser Cladding Market Size & Growth Rate ( 2022 – 2027 )

The Global Laser Cladding Market has been valued at US$ 483.52 Million in 2021 and it is expected to reach the high market capital of US$ 823.54 Million by 2027. During this forecast period it is anticipated to grow with the healthy CAGR of 10.32% over 2022-2027.

Global Laser Cladding Market Overview:

Laser cladding may be a welding procedure that uses laser energy as a heat source to melt and weld a cloth with distinct and desirable metallurgical properties onto a component with the smallest amount of chemical dilution feasible. This allows one to regulate the surface attributes of a less costly substrate to enhance corrosion, oxidation, wear, and high-temperature fatigue strength at a lower cost. With little or no dilution, the direct diode laser cladding method may weld an awfully thin and smooth single pass layer of metal onto another metal substrate at high deposition speeds. To supply the thinnest and purest weld overlay possible, this welding method employs specialised diode lasers. There’s no other welding procedure which will match the standard of diode laser cladding. The benefits of surface alteration are corrosion, erosion, or both.

Lasers enable power levels that don't seem to be normally attainable with traditional thermal techniques thanks to their greater focusing ability. This would process components with minimum thermal loading and distortion as a results of this. Laser cladding is right for applications that need a high level of dimensional accuracy. Materials that are difficult to weld using traditional methods, like high-temperature-resistant nickel-based alloys in gas turbines or tungsten-carbide-filled wear-protection coatings, are among the opposite applications. Turbine blades, drilling equipment, and pump components are samples of common components.

The use of laser cladding technology has grown in popularity in recent years. It’s unique features and capabilities during a kind of end-use industries, like automotive, mining, and aerospace. Low-volume production, metallic coating, high-value component maintenance, and prototyping are samples of distinctive skills. Within the construction business, as an example, the laser cladding technique is sort of useful since it boosts the damage resistance of construction equipment.

Global Laser Cladding Market Drivers & Restraints:

Drivers:

The growing demand for rapid production methods, the increasing popularity of fibre lasers in laser cladding application areas, and the expanding use of laser cladding over older technologies are all factors driving the laser cladding market. Meanwhile, a scarcity of qualified specialists is impeding the market's expansion. The high prices of capital equipment also pose a hindrance to the market's expansion. The market, on the other hand, offers several potential for developments in laser cladding processes.

Increasing need for rapid manufacturing practices is the major driving factor for the Global Laser Cladding Market. The phrase "rapid manufacturing" refers to the methods and processes that allow for quick and flexible prototyping and production of series parts. Applying surface coatings for surface enhancement, quick manufacturing, fixing worn-out parts, developing novel alloys, and other industrial tasks are all possible with laser cladding. As a result, the demand for rapid manufacturing utilising the laser cladding method is gradually expanding, which is likely to drive up laser cladding technology demand.

Increasing penetration of fibre lasers in laser cladding applications is another driving factor of the Global Laser Cladding Market. The industrial sector is presently the main market for fibre lasers, with a lot of activity at the kilowatt-class power level right now. Their application in automotive works is particularly intriguing. The automotive industry is transitioning to high-strength steel in order to build cars that exceed durability criteria while remaining relatively light for better fuel efficiency; the issue is how to cut the high-strength steel. Fibre lasers are used in this situation. Traditional machine tools, for example, struggle to punch holes in this type of steel; nevertheless, fibre lasers can quickly cut these holes.

Restraints:

High deployment Prices and lack of personnel with required technical expertise are the restraining factors that are expected to hamper the Global Laser Cladding Market. The power of lasers used in various processes, systems, and applications ranges from a few hundred to thousands of watts. Large-scale laser displays, medical, military, research, laser-induced nuclear fusion, and materials processing all use high-power lasers. Although laser cladding aids in the reduction of manpower and associated expenses in the automotive and manufacturing industries, its implementation requires a significant financial commitment. Various software, design files, durable parts, and laser sources are used to support lasers. In addition, service packages and warranties are included to protect against costly repairs in the event of a malfunction. As a result, the increased demand for lasers for processing necessitates the development of low-cost solutions in order for the technology to be widely used. Because of the large volume consumption, players in the laser cladding market are developing low-cost solutions to reap maximum benefits.

Recent Developments in Global Laser Cladding Market:

To improve laser cladding, Fraunhofer IWS develops the HICLAD technology. High-power diode lasers with outputs of ten or more kilowatts allow up new laser cladding application opportunities. Coatings that are particularly resource-efficient and sustainable can be manufactured and applied in a variety of industries, including automotive, machine construction, and others.

Laser Cladding Venture is acquired by SKF. The acquisition of Laser Cladding Venture n.v. (LCV), a Belgian additive manufacturing company, by SKF has been finalised. LCV is a specialty engineering start-up that specialises on additive manufacturing technology and techniques that can be used to complement SKF's service and remanufacturing offerings.

Global Laser Cladding Market Segmentation:

By Type:

• Fibre Laser.
• Diode Laser.
• YAG Laser.
• CO2 Laser.

Diode Laser is expected to have the dominant share in the Global Laser Cladding Market During the Forecast Period. During the projected period, the laser cladding market for diode lasers is expected to have the biggest market share. High-power direct diode lasers (DDL) have become increasingly popular in recent years, and are mostly employed in heat processing applications. When compared to traditional varieties like carbon dioxide (CO2) and yttrium aluminium garnet (YAG) lasers, high-power DDLs save a lot of energy. As a result, diode lasers are predicted to have the largest market share.

By Application:

• Oil & Gas.
• Aerospace & Defence.
• Automotive.
• Power Generation.
• Mining.

Aerospace & Defence is expected to have the dominant share in the Global Laser Cladding Market during the Forecast Period. One of the earliest sectors to use laser cladding was the aircraft industry. Many critical components in an aeroplane engine are laser-clad. In the aircraft sector, leading engine manufacturers are implementing 3D printing, cold spray, and laser cladding.

Global Laser Cladding Market Regional Analysis:

• Europe is expected to have the dominant share in the Global Laser Cladding Market during the Forecast Period. Due to the advantages of laser cladding, such as improved wear resistance and the repair of damaged or worn surfaces, it has been used by automotive and mechanical engineering businesses. Furthermore, due to increased demand from the automotive and mechanical engineering, as well as semiconductor equipment industries, Germany is predicted to lead the country-level markets in Europe. These companies are heavily investing in laser cladding research and development in order to be on the cutting edge of technology while providing a superior consumer experience.
• North-America is expected to have the next dominant share in the Global Laser Cladding Market during the Forecast Period. Because of the high need for laser cladding techniques in this region, particularly among automotive, security & defence, and semiconductor makers. Because of the increased need for laser cladding to improve wear resistance in objects, the United States is likely to lead the country-level market in North America. Laser cladding also improves, repairs, and reinforces the surfaces of metal components, allowing for the production of higher-quality consumer electronics.
• Asia-Pacific is expected to register the highest CAGR in the Global Laser Cladding Market during the Forecast Period. China, Japan, South Korea, and India are the biggest contributors to the APAC laser processing industry. In comparison to other regions, APAC has been a leader in the adoption of laser processing systems. For the development of sophisticated laser cladding applications, several government and private-sector businesses have developed. The laser cladding market in the region is predicted to increase due to rising R&D spending in laser technology, as well as growing manufacturing and electronics sectors, as well as the region's high population density.
• Latin-America.
• Middle-East and Africa.

Key Players in Global Laser Cladding Market:

• Oerlikon Metco
• Hoganas Ab
• Praxair S.T. Technology
• Hayden Laser Services
• Laser Cladding Services Pty Ltd
• Thermal Spray Depot
• Apollo Machine & Welding Ltd
• Alabama Laser
• STORK
• Coherent