USD 41.98 billion
Global Cladding (Metalworking) Service Market Size, Share, Growth Analysis, By Type(Roll Bonding, Explosive Welding), By Application(Oil & Gas, Aircraft & Aerospace) - Industry Forecast 2024-2031
Report ID:
SQSG20I2025 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
75
Global Cladding (Metalworking) Service Market Insights
Cladding (Metalworking) Service Market size was valued at USD 41.98 billion in 2019 and is poised to grow from USD 43.94 billion in 2023 to USD 66.26 billion by 2031, growing at a CAGR of 4.67% in the forecast period (2024-2031).
The increasing number of deep-water and ultra-deep-water fields, as well as growing drilling operations, are expected to drive demand for the cladding (metalworking) service market. Cladding service demand is expected to be driven by the oil and gas industry in the coming years. Oil and gas companies operate in a complex environment that presents constant challenges, particularly in terms of corrosion. A recent study estimates that the total annual cost of corrosion in the oil and gas production industry is $1.37 billion. These costs and environmental risks are expected to rise further in the coming years as new hydrocarbon sources are discovered in more difficult environments - deeper reservoirs with higher temperatures and pressures, and containing greater concentrations of acid gases.
The demand for cladding products is anticipated to be positively impacted during the forecast period by rising construction spending in developing countries as a result of population growth and significant economic and industrial developments. In terms of pricing, product differentiation, and cladding quality, the cladding industry is very competitive. The market participants prioritize enhancing product quality in terms of dependability, aesthetic appeal, and energy efficiency, and they anticipate engaging in mergers and acquisitions to strengthen their positions in both domestic and foreign markets. The development of components with superior durability, custom colors, and low maintenance has been made possible by technological advancements and improvements in the production process. Global market competition has increased due to the introduction of interlocking panels, quick installation methods, and superior fastening tools. Many players, both domestic and foreign, are concentrating on dominating the competition.
US Cladding (Metalworking) Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Oil & Gas
Fastest Growth
Oil & Gas
Growth Rate
4.67% CAGR
Global Cladding (Metalworking) Service Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Cladding (Metalworking) Service Market By Application ($ Bn)
Global Cladding (Metalworking) Service Market By Application (%)
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Global Cladding (Metalworking) Service Market Segmental Analysis
The global cladding (metalworking) service market is segmented based on the type, application, and region. Based on the type, Cladding (Metalworking) Service Market is segmented into roll bonding, explosive welding, and laser cladding. Based on application, Cladding (Metalworking) Service Market is segmented into oil & gas, aircraft & aerospace, mining & construction, and others. Based on region Cladding (Metalworking) Service Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Cladding (Metalworking) Service Market Analysis by Application
The global cladding (metalworking) service market is segmented based on application into oil & gas, aircraft & aerospace, mining & construction, and others. oil & gas segment is anticipated to hold the largest share in the market. The oil and gas play an important role in the future global energy supply model. However, the emergence of new and unconventional sources of oil and gas will change the landscape with regard to extraction and processing in many significant ways. This segment is also referred to as the exploration and production (E&P) sector; it includes the search for potential underground or sub-sea oil and gas fields, the drilling of exploratory wells, and the subsequent drilling and operation of the wells that recover and bring the crude oil and/or raw natural gas to the surface. The oil and gas industry are currently facing unprecedented global challenges that require resilient and cost-effective metal solutions that perform without failure in hostile subsea, downhole, and onshore environments. The demand for premium cladding (metalworking) that operate in increasingly demanding environments is therefore higher than ever across the globe.
Global Cladding (Metalworking) Service Market By Application, 2023 (%)
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Global Cladding (Metalworking) Service Market Regional Insights
The global cladding (metalworking) service market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia Pacific region is expected to account for the largest market. Considering increased demand from end-use industries such as automotive, oil and gas, aircraft and aerospace, mining and construction, and others Furthermore, key players are focusing on cladding applications, particularly in countries such as India, China, and others, in order to penetrate the product in this region. North America is expected to grow steadily as a result of the constant product development by the region's key manufacturers. Furthermore, a shortage of highly skilled operators is forcing manufacturers to develop automatic cladding machines, which is driving market growth. The Middle East, Africa, and Latin America are expected to grow steadily as a result of increased investment in infrastructure development in countries such as Brazil, Mexico, South Africa, Saudi Arabia, the United Arab Emirates, and others.
Global Cladding (Metalworking) Service Market By Region, 2024-2031
- Largest
- Fastest
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Global Cladding (Metalworking) Service Market Dynamics
Cladding (Metalworking) Service Market Driver
Increased Oil Production & New Refineries Open Up
- GCC countries are targeting towards increasing the oil production, for example ADNOC plans to raise oil production capacity from approximately 4.2 million barrels per day (b/d) today to 5 million b/d by 2030. Several megaprojects that are already underway will help it to reach this target, but new exploration and production may also be required. In the downstream sector, ADNOC launched a $45 billion investment plan, including a large expansion of its refining and petrochemicals capacity.
Cladding (Metalworking) Service Market Challenges
Longer-term decline in petroleum demand
- Although the oil and gas sector are used to the highs and lows of economic and price cycles, this downturn seems unlike any other. In fact, it’s the “great compression” of the O&G industry. With the survival of many companies at risk, and the longer-term decline in petroleum demand, the next decade could look very different for the entire O&G value chain.
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Global Cladding (Metalworking) Service Market Competitive Landscape
The cladding (metalworking) service market is highly competitive with presence of high numbers of market players. These players offer a variety of metal cladding services. Furthermore, B2B E-Commerce platforms and Supplier discovery platforms have increased the number of opportunities available to small and medium-sized businesses. To gain a significant market share, key players in the cladding (metalworking) service market are employing strategies such as cladding technology innovation, product launches, and mergers and acquisitions.
Cladding (Metalworking) Service Market Top Company Profiles
- Arc Energy Resources Ltd.
- Bodycote PLC
- Curtiss-Wright Corporation
- DAIHEN Corporation
- Furukawa Electric Co., Ltd.
- G&S Bar and Wire LLC
- GE Power Conversion
- GrafTech International Holdings Inc.
- H.C. Starck GmbH
- Hardide plc
- Haynes International Inc.
- IBC Coatings Technologies Inc.
- Laserline GmbH
- Metallisation Ltd.
- Oerlikon Metco AG
- Praxair Surface Technologies, Inc.
- Surface Technology, Inc.
- Techmetals, Inc.
- Thermal Spray Technologies, Inc.
- Wall Colmonoy Corporation
Cladding (Metalworking) Service Market Recent Developments
- In July 2021, Arc Energy Resources successfully commissioned its new electroslag strip cladding equipment. The ESAB-manufactured machine was bought to support a project on the UK’s small modular nuclear reactor programme, providing weld overlay cladding on full size demonstrator parts.
- In September 2020, Inaugurated worlds most advanced continuous caster in Donawitz for processing high-quality seamless tubes for oil & gas exploration. The start-up of a new, fully automated continuous caster will allow the Group to further increase the quality of the steel grades which are used in the manufacture of highly advanced end products.
Global Cladding (Metalworking) Service Key Market Trends
- Metal cladding made of Aluminum is light weight and does not absorb moisture. In wetter climates, most of the materials absorbs excess moisture hence, becoming heavy and Metal cladding does not absorb moisture. Due to the light weight of metal cladding, it is easy to transport and install.
- Metal cladding is remarkably strong and highly resilient to water damage, electrochemical reactions and corrosion. Overall, metal panels have a long life-span with little to no maintenance required.
Global Cladding (Metalworking) Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global cladding (metalworking) service market analysis, Metal cladding is inexpensive and budget friendly and it is resistant to changing environmental conditions like rainfall, snow and sun propelling the growth of Asia Pacific cladding (metalworking) service. The geographic presence of key market players in the region, as well as its established business, drives the use of cladding (metalworking) services in the region, thereby contributing to the growth of the cladding (metalworking) service market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 41.98 billion |
| Market size value in 2031 | USD 66.26 billion |
| Growth Rate | 4.67% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cladding (Metalworking) Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cladding (Metalworking) Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cladding (Metalworking) Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cladding (Metalworking) Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cladding (Metalworking) Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cladding (Metalworking) Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cladding (Metalworking) Service Market Report Snapshots
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