Laser Cladding Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Fiber Laser, Diode Laser, CO2 Laser, Acoustic Laser & Others), By Material (Cobalt-based Alloys, Nickel-based Alloys, Iron-based Alloys, Carbides and Carbide Blends & Others), By End User (Aerospace and Defence, Automotive, Mining, Oil and Gas, Energy and Power & Others) and Region

The global laser cladding market size was value US$ 541.9 million in 2023 and is projected to reach value of US$ 971.7 million by 2030, at a CAGR of 8.7% from 2024-2030. Laser cladding, also known as laser metal deposition, is a surface modification technique that uses a laser beam to melt material onto a substrate to create a metallurgical bond, this process enhances the surface properties of the base material, such as corrosion resistance, wear resistance, and abrasion resistance. The arket is driven by the automobile industry and growing demand for wear and corrosion-resistant materials.

The restraints of market are lack of skilled professional, limitations in material compatibility, particularly with certain metals and ceramics. Additionally, the emerging opportunities of market are continuous improvements in laser technology, development of integrated laser cladding machines that combine multiple functions into a single system. The key trends of market are shift towards automation and integration with robotics, increasing use in tool and die industry.

Key Players

The laser cladding market share is inclusive of several companies such as LaserBond Limited, LaserStar Technologies Corporation, Lincoln Laser Solutions, Lumentum Operations LLC, Lumibird, OC Oerlikon Management AG, RUMPF Group, TLM Laser Ltd, Curtiss-Wright Corporation, Han’s Laser Technology Industry Group Co., Ltd., Hayden Corporation, Hoganas AB and others.

Key Takeaways

• Europe market is the dominant market in 2023.
• The Asia pacific market is expected to expand at highest CAGR from 2024 to 2030.
• Based on type, the diode laser segment dominated the market in 2023.
• Based on material, the nickel-based alloys has captured the highest market share in 2023.   
• Based on application, the aerospace and defence segment has expected to dominate the market in coming forecast years.

Facts & Figures

• In 2021, Coherent launched a new laser cladding system, the VarioClad 1006. The system is capable of processing a wide range of materials and offers a high degree of flexibility.
• In 2020, Trumpf launched a new laser cladding system, the TruClad 1000. The system is capable of processing a wide range of materials and offers a high degree of flexibility.

Key Developments

• In 2021, Lincoln Electric launched a robotic laser cladding system, enhancing automation capabilities for various industries.

Laser Cladding Market Segmentation

By Type: Among all the types, diode laser 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 Material: Nickel-based Alloys are the most widely used in the market. Nickel-based alloys are favoured for their excellent wear resistance, corrosion resistance, and ability to withstand high temperatures, making them ideal for applications in industries such as aerospace, oil and gas, and power generation.

By End User: Among all the applications, the aerospace and defence sector is predicted to grow at the fastest rate during 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.