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Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A4437
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Market Overview:
The global heat treating market size reached US$ 100.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 127.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.
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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global heat treating market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, process, equipment and application.
Breakup by Material:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Steel
- Cast Iron
- Others
Breakup by Process:
- Hardening and Tempering
- Case Hardening
- Annealing
- Normalizing
- Others
Breakup by Equipment:
- Fuel-Fired Furnace
- Electrically Heated Furnace
- Others
Breakup by Application:
- Automotive
- Aerospace
- Metalworking
- Construction
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Material, Process, Equipment, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global heat treating market was valued at US$ 100.6 Billion in 2022.
We expect the global heat treating market to exhibit a CAGR of 3.9% during 2023-2028.
The rising utilization of heat treating across various industries, such as automotive, aerospace, construction, etc., as it offers enhanced ductile strength, improved tensile strength, and higher level of durability, is primarily driving the global heat treating market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for heat treating.
Based on the material, the global heat treating market has been divided into steel, cast iron, and others. Among these, steel currently exhibits a clear dominance in the market.
Based on the process, the global heat treating market can be categorized into hardening and tempering, case hardening, annealing, normalizing, and others. Currently, case hardening accounts for the majority of the global market share.
Based on the equipment, the global heat treating market has been segregated into fuel-fired furnace, electrically heated furnace, and others, where electrically heated furnace currently holds the largest market share.
Based on the application, the global heat treating market can be bifurcated into automotive, aerospace, metalworking, construction, and others. Currently, automotive exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global heat treating market include 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.
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