Global Cladding Service Market, By Type, Application & By Region - Forecast and Analysis 2022-2027

The global cladding (metalworking) service market was valued at USD 41.98 Billion in 2021, and it is expected to reach a value of USD 55.93 Billion by 2027, at a CAGR of more than 4.67% over the forecast period (2022 - 2027). The growth of this market is attributed to the increasing number of deep-water and ultra-deep-water fields and the growing drilling operations are expected to drive the demand for the cladding metalworking service market. The oil and gas industry is expected to drive cladding service demand in the coming years. Oil & Gas companies work in a complex environment, where they face constant challenges, especially with respect to corrosion. According to a recent study, the total annual cost of corrosion in the oil and gas production industry is estimated to be $1.37 billion. It is estimated that these costs and environmental risks could rise further in the years ahead, as new hydrocarbon sources are found in more challenging environments – deeper reservoirs with higher temperatures and pressures and containing greater concentrations of acid gases.



In the cladding process, the backing steel for clad plate in sour service does not need to be resistant to hydrogen-induced (stepwise) cracking since the alloy layer (clad layer) prevents corrosion (and therefore hydrogen generation) at the inner surface of the vessel or pipe. Occasionally concern is expressed about the risk of hydrogen disbonding between the cladding and the backing steel. In the context of oil and gas production, this is unlikely to occur since there is no hydrogen produced at the inner surface. The alloy layer should be selected to be fully corrosion resistant in the expected environment so that there is no corrosion and therefore no hydrogen is generated internally. The outer surface, if buried or submerged, would normally be cathodically protected. If protected at the correct potential, some hydrogen will be generated externally.

The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.

Top-down and bottom-up approaches were used to estimate and validate the size of the global cladding (metalworking) service market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: the key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPS, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Aspects covered in this report

• Based on Type, this market is segmented into Roll Bonding, Explosive Welding, and Laser Cladding.
• Based on Application, this market is segmented into Oil & Gas, Aircraft and Aerospace, Mining and Construction and Others.
• Based on region, this market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).

In the competitive landscape, the report studies the growth strategies adopted by the companies. Players in this market adopted various strategies to expand their global footprint and augment their market share. The key strategies followed by most companies in the global cladding (metalworking) service markets were agreements and collaborations, mergers and acquisitions, and expansion.

The Major Key players are discussed in this report such as Nobelclad, Voestalpine, Ametek Inc, Canadoil Group Ltd, Fronius Perfect Welding, Eisenbau Krämer GmbH, Gulf Specialized Works, Proclad Group, Castolin Eutectic, Oerlikon Metco, PM Piping, Polysoude, Butting, Octal, Praxair Surface Technologies, The Japan Steel works Ltd, Arc Energy Resources Ltd, Cladtek Holdings Pte Ltd, EEW Group, Gieminox Tectubi Raccordi S.R.L.