Heat Treating Market Size - By Material Type (Steel, Cast Iron), By Process (Carburizing, Nitriding, Hardening, Tempering, Normalizing, Annealing), By Equipment Type (Electrically Heated Furnace, Fuel-Fired Furnace), Application & Forecast, 2021 - 2027

Heat Treating Market Size - By Material Type (Steel, Cast Iron), By Process (Carburizing, Nitriding, Hardening, Tempering, Normalizing, Annealing), By Equipment Type (Electrically Heated Furnace, Fuel-Fired Furnace), Application & Forecast, 2021 - 2027

Heat Treating Market Size

Heat Treating Market size exceeded USD 90 billion in 2020 and is projected to grow at over 3.7% CAGR from 2021 to 2027. The growing aerospace & defense sector coupled with an increasing metals industry will propel the demand.

The aerospace industry in recent times has witnessed tremendous growth led by the rising number of passengers opting for air travel. The growing middle-class population and increasing disposable incomes in many Asia Pacific countries will further boost demand for air travel. Moreover, better regional connectivity and modern infrastructure will positively impact the aerospace industry. The growing air travel has resulted in various airlines booking new & used aircraft to meet the rising demand.

To get key market trends

  Download Free Sample

Furthermore, the growing military confrontation around the world is anticipated to augment the demand for defense hardware. Recently, China has increased its military spending by 6.8%, reaching USD 200 billion. Moreover, the rising tension in West Asia is expected to catapult the production of military equipment for combat purposes.

The rising demand for various industrial equipment and machine is another factor driving the heat treatment industry. The growing economies of China, India, Vietnam, Brazil, etc., are likely to observe significant growth in their economies. The industrial sector in these countries is set to become more competitive and export-oriented.
 

What are the growth opportunities in this market?

 Download Free Sample

The high cost associated with setting up heat treatment units is predicted to have a negative impact on the product demand. The requirement for a skilled labor force to deal with heat-processed metals & alloys is anticipated to be challenging for the heat treating market.

Heat Treating Market Analysis

Steel material accounted for above 80% of the heat treating market share in 2020. The growing use of steel in various end-user industries and machining applications is positively impacting the product demand. Growing consumption of steel in various emerging economies to drive their industrial growth.

The fuel-fired furnace segment is predicted to reach USD 72 billion revenue by 2027. Fuel-fired furnace is the most common type of furnace system utilized in the heat treatment process. This is due to its low operating cost and easy maintenance. Growing demand for various metals and alloys from the construction industry owing to rising investments in the building & construction industry along with infrastructure development in various countries is supporting the market demand.

Learn more about the key segments shaping this market

 Download Free Sample

The hardening segment is estimated to register growth rate of around 3.2% through 2027. The primary intent of hardening is to strengthen the metal, which is then utilized in different end-user industries. The hardening process addresses the deficiencies by bringing metals and alloys into a reliable solution with fine particles to further strengthen the metals & alloys.

The automotive segment held more than one-third market share in 2020. The automotive sector is in the transition phase, various manufacturers are actively producing electric vehicles. The rising demand for electric vehicles is expected to spur the automotive industry in the coming years, which will have a positive impact on the market growth. Industry participants are increasingly becoming more competitive by launching new & improved vehicles. The rising middle-class population and increasing disposable incomes in many emerging economies are highlighted through the rising sales of automotive in these countries.

Learn more about the key segments shaping this market

 Download Free Sample

The Asia Pacific heat treatment market size is set to capture nearly USD 53 billion by 2027. The growth of industrial activities in these countries is increasing at a significant rate impelled by various government policies to further develop and strengthen their manufacturing activities. Various automotive companies in India have now started studying the scheme and redesigning & calibrating their production plans in the country to increase their automotive production.

Heat Treating Market Share

Many industry participants are engaged in research & development activities to improve the heat treatment process. Various manufacturers are forming strategic partnerships to increase their market reach and dive into newer markets in emerging economies to meet the growing demands.

Key players in heat treating market include

• Bodycote Heat Treatments Ltd
• Bluewater Thermal Solutions
• Metcor Inc
• Specialty Steel Treating
• Euclid Heat Treating
• Advanced Heat Treatment Corporation
• Nitrex
• Houston Heat Treat
• Avdhoot Heat Treat Pvt Ltd
• Team Inc
• Peters Heat Treating Inc
• Summitglow Ltd
• Thermex Metal Treating Ltd
• Advanced Heat Treat Corp
• Metal Heat Co., Ltd
• Premier Thermal Solutions LLC

This market research report on heat treatment includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2017 to 2027 for the following segments

Click here to Buy Section of this Report

Market, By Material Type

• Steel
• Cast Iron
• Others

Market, By Process

• Carburizing
• Nitriding
• Hardening
• Tempering
• Normalizing
• Annealing
• Others

Market, By Equipment Type

• Electrically Heated Furnace
• Fuel-Fired Furnace
• Others

Market, By Application

• Automotive
• Aerospace & Defense
• Machinery
• Construction & Infrastructure
• Metals
• Others

The above information is provided on a regional and country basis for the following

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Turkey