Heat Treating Market Expected to Generate US$ 127.0 Billion During 2023-2028 | IMARC Group
The latest report by IMARC Group, titled “Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global heat treating market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
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 is a process that is utilized to alter the properties of a material by subjecting it to controlled heating and cooling cycles. Heat treating primarily enhances the material's mechanical, physical, and chemical properties to make it more suitable for specific applications. It involves heating the material to a particular temperature, holding it there for a set time, and then cooling it down at a specific rate. The three main stages of heat treating are heating, soaking, and cooling. During the heating stage, the material is heated to a specific temperature, known as the austenitizing temperature, where its microstructure changes. The soaking stage follows, where the material is held at the austenitizing temperature to ensure complete transformation. The cooling stage is the final stage, where the material is rapidly cooled to achieve specific mechanical properties, such as hardness or toughness.
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Market Trends and Drivers:
The escalating demand for heat treatment from the industrial sector majorly drives the global market. Additionally, the rising global sales of vehicles are increasing the demand for the deployment of the heat treating method, which enhances the effective utilization of different components in the automotive industry while meeting customer needs and environmental standards. Along with this, the widespread adoption of heat treating to improve the properties of nickel-titanium (Ni-Ti) based alloys, which are extensively used in the biomedical sector for producing coils and treating cerebral aneurysms, is significantly supporting the demand.
Furthermore, numerous market leaders are introducing low-cost, reliable smart systems to automate the heat-treating process, reducing time and errors and creating a positive market outlook. Some of the other factors driving the market include rapid industrialization and the development of new manufacturing plants.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- Ajax TOCCO International Ltd
- American Metal Treating Inc
- Bluewater Thermal Solutions
- Bodycote plz
- East-Lind Heat Treat Inc.
- General Metal Heat Treating
- Nabertherm GmbH
- Pacific Metallurgical Inc
- Seco/Warwick Inc.
- Thermax Limited
- Unitherm Engineers Limited
Key Market Segmentation:
Breakup by Material:
- 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:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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