Laser Cladding Industry [2021–2026] to grow at a CAGR of 9.6%

Laser Cladding Market is estimated to be valued at USD 483 million in 2021; it is expected to grow at a CAGR of 9.6% during 2021–2026 to reach USD 823 million by 2026. Adoption of laser cladding applications across aviation and automotive industries and development of advanced laser cladding solutions serve as growth opportunities for the market players.

Laser cladding is an advanced manufacturing technique that involves the use of lasers to deposit a layer of material onto a substrate.

The laser cladding process can be used to repair or enhance the surface properties of a variety of materials, including metals, ceramics, and polymers.

In comparison to conventional manufacturing methods, laser cladding offers a number of benefits, including increased accuracy, decreased material waste, and quicker production periods.

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The increasing adoption of automation and robotics in the manufacturing industry is expected to drive the growth of the laser cladding market in the coming years.

The Asia Pacific region is expected to dominate the laser cladding market due to the presence of major manufacturing industries and increasing investments in research and development.

In the upcoming years, the market for laser cladding is anticipated to expand significantly due to the rising need for high-performance, customised goods across numerous sectors.

The laser cladding market includes major Tier I and II players like TRUMPF (Germany), OC Oerlikon Management AG (Switzerland), Coherent, Inc (US), IPG Photonics Corporation (US), Han’s Laser Technology Industry Group Co., Ltd. (China) and others. These players have a strong market presence for laser cladding across various countries in North America, Europe, APAC, and RoW.

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