Laser Cladding Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Source; Function; Application and Geog

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Global Laser Cladding Market was valued at USD 518.45 million in 2021 and is expected to reach USD 889.11 million by the year 2028, at a CAGR of 8.01%.

Laser cladding is refereed as a process that is utilized to fuse with a laser beam another material that has several metallurgical properties on a substrate, whereby only a very thin layer of the substrate has to be melted to achieve blueprinting bonding with the least dilution of added material and substrate to keep the original properties of the coating material. In addition, laser cladding is a hard-facing process that uses a high-powered laser beam to melt the coating material and a thin layer of the substrate to form a pore- and crack-free coating 50 μ m–2 mm thick with low dilution that is ideally bonded to the substrate. The process may be utilized for large area coverage by overlapping individual tracks, but it is the ability to defense smaller, localized areas that makes it unique.

The research presents a full analysis of the pandemic's influence on the whole industry, as well as an outline of market scenarios before and after COVID-19. All of our reports will be modified before distribution to account for the impact of COVID-19 in order to offer a more accurate market prediction. The research study looks at numerous market segments based on type, application, and geographies. The research also includes a competitive analysis of the top Laser Cladding product providers, as well as their most recent advances. This study is divided into three sections: type, application, and region, with market size and forecasts for each area. For the predicted period, yearly compound growth rates for all segments have also been presented.

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Key Industry Players in the Laser Cladding Market:

  • Laser Cladding Technologies (Singapore)
  • Lumentum Operations LLC (US)
  • LaserBond (Australia)
  • TRUMPF (Germany)
  • Curtiss-Wright Corporation (US)
  • IPG Photonics Corporation (US)
  • Technogenia (France)
  • OC Oerlikon Management AG (Switzerland)
  • Jenoptik (Germany)
  • Laserline (Germany)
  • Lincoln Laser Solutions (Canada)
  • Coherent Inc (US)
  • Hayden Corporation (US)
  • TLM Laser (UK)
  • Han's Laser Technology Industry Group Co.Ltd. (China)
  • Lumibird (France)
  • Alabama Specialty Products Inc. (the US)
  • Efesto (US)
  • Fraunhofer USA's Center Midwest (US)
  • Gravotech (France)
  • Hoganas AB (Sweden)
  • Kondex Corporation (US)
  • LaserStar (US)
  • Optomec (Mexico)
  • Preco (US) and others major key players.

Cladding is the process of improving the finish or surface of objects, parts, or items worn out through their extended usage. It makes the object more aesthetic and functional through refurbishment or revision by creating a new surface layer on the top of the base material. Laser cladding includes a hard-facing process utilizing a high-powered laser beam to melt the coating material and a thin substrate layer forming a pore- and crack-free coating 50–2 mm thick with low dilution perfectly bonded to the substrate.

Segmentation Analysis Includes,

By Type:

  • Diode laser
  • Fiber laser
  • CO2 laser
  • Acoustic laser
  • Others

By Materials:

  • Carbides Carbide Blends
  • Cobalt-Based Alloys
  • Iron-Based Alloys
  • Nickel-Based Alloys

By Revenue:

  • System revenue
  • Laser revenue

By End Use Industry:

  • Aerospace Defense
  • Automotive
  • Agriculture
  • Power Generation
  • Others

By Region:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry.

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The global laser cladding market is witnessing significant growth mainly due to the rising need for rapid manufacturing practices, increasing popularity of fiber lasers in laser cladding application areas, and growing adoption of laser cladding over traditional technologies. Major players have opted for partnerships, mergers acquisitions, and product developments as their key organic growth strategies to enhance their positions in the market and cater to the demands of organizations across end-use verticals.

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