Synergistic erosion and corrosion at elevated temperatures is a prevalent condition in oil refining and power generation. Corrosion resistant alloys do not tend to be durable under wear conditions, whilst common wear-resistant solutions such as tungsten carbide-based coatings display poor resistance to oxidation and corrosion. This work details the development of a composite overlay, deposited by plasma transferred arc welding, that has been designed to exhibit high levels of wear protection coupled with resistance to oxidizing and carburizing environments. The performance of the composite is provided by the corrosion resistance of a MCrAlX-type alloy, which acts as a matrix for a homogenous distribution of chromium-based carbides. The protective oxide promoted by the matrix alloy, combined with a dense population of in-situ formed primary carbides act synergistically to provide resistance to high temperature corrosive/wear environments. The presentation details the alloy selection and development of the deposition process. The performance of the composite is assessed under abrasive wear, oxidizing and carburizing conditions, and gauged against commonly used corrosion resistant alloys.