Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • May 2022 •
  • 145 pages •
  • Report ID: 6197652 •
  • Format: PDF
The global heat treating market reached a value of US$ 96.9 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 121.4 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Heat treating refers to the process of heating and cooling both ferrous as well as non-ferrous metals at various staged levels. It assists in obtaining the desired set of physical and mechanical properties. At present, several methods to improve the outcomes and cost-efficiency of heat treating have been developed, which are utilized depending on the metal type. For instance, superalloys employed in the aircraft industry undergo various heat-treating processes to optimize metal properties, including magnetism, hardness, toughness, ductility, brittleness, and electrical and corrosion resistance.

Heat Treating Market Trends:
The rising volume of air traffic on account of the expanding international trade, the increasing business travel, and the thriving tourism sector represents one of the key factors stimulating the market growth. Moreover, the boosting sales of vehicles worldwide are propelling the demand for heat treating to enhance the effective utilization of different components in the automotive industries while satisfying customer needs and environmental norms. Apart from this, as it assists in improving the machinability and surface properties and increasing strength, hardness, and wear resistance of metals, the heat-treating process is used to increase the thermomechanical behavior of Nickel-Titanium (Ni-Ti) based alloys. These alloys find extensive applications in the biomedical sector to produce coils and treat cerebral aneurysms, which are localized dilations of the intracranial arteries. Furthermore, the leading market players are introducing a reliable, low-cost smart system for automating the heat-treating process. It includes a control unit, algorithm, sensor, and drive circuit that helps reduce time and human intervention and error. This is anticipated to impact the application of heat treating in the construction and oil and gas industries around the world.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global heat treating market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on material, process, equipment and application.

Breakup by Material:
Cast Iron

Breakup by Process:
Hardening and Tempering
Case Hardening

Breakup by Equipment:
Fuel-Fired Furnace
Electrically Heated Furnace

Breakup by Application:

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ajax TOCCO International Ltd, American Metal Treating Inc, Bluewater Thermal Solutions, Bodycote plc, East-Lind Heat Treat Inc., General Metal Heat Treating, Nabertherm GmbH, Pacific Metallurgical Inc, Seco/Warwick Inc., Thermax Limited and Unitherm Engineers Limited.

Key Questions Answered in This Report:

How has the global heat treating market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global heat treating market?
What are the key regional markets?
What is the breakup of the market based on the material?
What is the breakup of the market based on the process?
What is the breakup of the market based on the equipment?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global heat treating market and who are the key players?
What is the degree of competition in the industry?