LASER CLADDING MATERIALS MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics

• Among regions, Asia Pacific is expected to grow substantially in the forthcoming years owing to rapid growth of end-user industries in the region. Furthermore, the rise in demand for better quality products and cost efficient equipment repairing techniques from the manufacturing, chemical and construction industry, is expected to drive demand for laser cladding materials during the forecast period.
• Companies involved in different industries such as power generation and automobile, are encouraging the usage of laser cladding technique over conventional processes, for repairing and enhancing wear & corrosion resistance of the plant equipment. Laser cladding is an efficient alternative due to inherent properties of laser radiation such as higher input heat energy, minimum dilution between the cladding material and substrate, and lower distortion. This scenario is expected to drive demand for laser cladding materials over the forecast period.