Global Laser Cladding Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Laser Cladding Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Laser Cladding is a method of depositing material by which a powdered material is melted and consolidated by use of a focused laser beam in order to coat part of a substrate. Laser cladding powder is the key factors that determines the cladding layer performance.

Market Overview:

The latest research study on the global Laser Cladding Powder market finds that the global Laser Cladding Powder market reached a value of USD 179.28 million in 2022. It’s expected that the market will achieve USD 260.27 million by 2028, exhibiting a CAGR of 6.41% during the forecast period.

Laser Cladding Powder Growth Drivers

From the current application of Laser Cladding Powder products, it is mainly used in three aspects: first, surface modification of materials, such as gas turbine blades, rolls, gears, etc.; second, surface repair of products, such as rotors, mold, etc. Relevant information shows that the strength of the repaired components can reach more than 90% of the original strength, and the repair cost is less than 1/5 of the replacement price. More importantly, the repair time is shortened, which solves the problem of continuous and reliable operation of major complete sets of equipment in large enterprises. The problem of quick repair of rotating parts that must be solved. In addition, laser cladding super wear-resistant and corrosion-resistant alloys on the surface of key components can greatly improve the service life of components without deforming the surface of the components. Third, laser additive manufacturing. By performing layer-by-layer laser cladding, parts with three-dimensional structures are obtained. This technology can also be called laser melting deposition, laser metal deposition, laser direct melting deposition, etc. Therefore, Laser Cladding Powder products have market potential.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The top three companies are Sandvik, Carpenter, Oerlikon Metco with the revenue market share of 13.40%, 13.23%, 11.48% in 2021.

Sandvik is an engineering group in mining and rock excavation, rock processing, metal cutting and materials technology, providing optimized products and solutions based on digitalization, innovation and sustainable engineering.

Carpenter Technology Corporation is a global leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, transportation, defense, energy, industrial, medical, and consumer electronics markets.

Segmentation Overview:

Among different product types, Iron Base Alloy segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Automotive and Transportation segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Laser Cladding Powder market covered in Chapter 3:

Sandvik
Praxair ST Technology
Avimetal Powder Metallurgy Technology
Höganäs AB
Wall Colmonoy
Hlpowder
DURUM
Carpenter
Oerlikon Metco
Sentes-BIR
Henan Igood

In Chapter 4 and Chapter 14.2, on the basis of types, the Laser Cladding Powder market from 2018 to 2029 is primarily split into:

Cobalt Base Alloy
Nickel Base Alloy
Iron Base Alloy
Stainless Steel
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Laser Cladding Powder market from 2018 to 2029 covers:

Aviation
Power Generation
Automotive and Transportation
Petrochemical processing
Mining
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)