The Heat Treating Market accounted for USD 88,543 Million in 2020 and is expected to reach more than USD 125,917 Million by 2028, growing at a CAGR of 4.5% from 2021 to 2028. Heat Treating industry share by Material, Equipment, Furnace Type, Application and Region.
Heat Treating Market
The Heat Treating Market accounted for USD 88,543 Million in2020 and is expected to reach more than USD 125,917 Million by2028, growing at a CAGR of 4.5% from 2021 to 2028.
Heat treatment is a method that is utilized for alteringfeatures of alloys & metals through cooling & heatingprocesses. The heat treating method is utilized for achievingrequired product fit for a particular application. Apart from this,heat treatment also raises the ductile strength & durability ofconstruction metals such as steel. Furthermore, there are myriadkinds of heat treating processes which vary based on the heating temperature & rate of cooling based on the need. Heat treatmentalso helps in annealing of the steel.
The COVID-19 has globally impacted as public health emergencythat affected almost every industry all over the world; COVID-19has had an adverse impact on the construction sector and othersectors driving the growth of treating market. The construction ofbuildings is impacted since lockdowns were imposed. With time themarket is again gaining its potential growth, significant adoptionof treated steel in automotive, aerospace, manufacturing,metallurgy, and others, Cast iron as a preferred choice ofmaterials in the industrial manufacturing and High adoption ofluxury vehicles in Germany and resulting demand for treated premiumsteel.
Heat treatment is a method that is utilized for alteringfeatures of alloys & metals through cooling & heating processes.The heat treating method is utilized for achieving required productfit for a particular application. Heat treating makes material moreapplication specific based on the end use in various industries.Automotive and aerospace are two crucial application segments forheat treating services. Alloys and other high performing metals aresignificantly adopted in these industries to produces vehicles.Therefore, Growing demand for heat treating services in aerospacecan be attributed to rapidly increasing demand for commercial vehicles due to high aviation demand and rising air passengertraffic.
Heat treatment industry is mainly dominated by the steel metalas it acquired 80% of the market share and single handily dominatedthe industry. Therefore, heat treatment is more of steel driven.Heat treatment is a method that is utilized for altering featuresof alloys & metals through cooling & heating processes. The heattreating method is utilized for achieving required product fit fora particular application. Heat treatment of steel makes it moreapplication specific with improved properties.
|Report Attributes||Report Details|
|Report Name||Heat Treating Market Research Report|
|Market Size in 2020||USD 88,543 Million in2020|
|Market Forecast in 2028||USD 125,917 Million|
|Compound Annual Growth Rate||CAGR of 4.5%|
|Number of Pages||183|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Bohler Uddeholm,Bluewater Thermal Solutions, American Metal Treating Inc., AjaxTocco International Ltd., Solar Atmosphere Inc, Bodycote HeatTreatments Ltd|
|Segments Covered||By Material, By Equipment, By Furnace Type, By Application and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2018 - 2022|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Based on the material, the global heat treating market issegmented into cast iron, steel, and others. Steel is emerged asthe largest revenue generating segment in 2020 with 80% marketshare and it is further anticipated to be at dominant position.Heat treated steel segment emerged as the largest revenuegenerating segment in the global heat treatment market and it isanticipated to be the leading segment in terms of revenue by theend of forecast period. Steel is the dominant material in thecivilization and evolution of human history. It is almost used inthe majority of end use industries in the structural applicationand well as to meet components needs in industries like automotive,aerospace, construction, machinery, and others. As per ouranalysis, close to 80% of all industrial heat treatment processesare performed on steel, however a number of other ferrous andnon-ferrous metals are also heated and cooled for similarpurposes.
Based on the Equipment, the global heat treating market issegmented into atmospheric furnaces, applied energy, vacuum energy,and others. Atmospheric furnaces are emerged as the largest revenuegenerating segment. Atmospheric furnace emerged as the largestrevenue generating segment in the global heat-treating market withover 60% of the global market share in 2020, and the similarsegment anticipated being at dominant position by the end of theforecast period. This is due to suitability of atmospheric furnaceto the variety of material from metallic and ceramic up to 1200°Cunder controlled flow of argon and nitrogen. On the other hand, oneof the main reason atmospheric furnace segment acquired largestmarket share is requirement of controlled atmosphere in order forthe process to be successful.
Asia-Pacific accounted for a share of over 50% in 2020.Asia-Pacific heat treatment market is studies across countries likeChina, India, Japan, Southeast Asia, Korea, and others. Marketshares in the global heat treating market and further projected tocontinue its dominance in the years to come. Asia Pacific dominatedthe metal heat treating market in terms of revenue. These servicesin the region are largely driven by rapidly growing automotive,aerospace, and construction industries across key emergingeconomies such as India, China, and Indonesia. The rising demandfor commercial and heavy-duty vehicles anticipated to boost themarket share in the countries like China, India, and Japan.
Some of key players in Heat Treating Market are Bohler Uddeholm,Bluewater Thermal Solutions, American Metal Treating Inc., AjaxTocco International Ltd., Solar Atmosphere Inc, and Bodycote HeatTreatments Ltd., are some of the major players among others.
By Furnace Type
the Heat Treating Market was valued at USD 88,543 Million in 2020.
the Heat Treating Market is expected to reach USD 125,917 Million by 2028, growing at a CAGR of 4.5% between 2021 to 2028.
some of the key factors driving the Heat Treating Market growth are Massive demand for the product in automotive, aviation, construction, and manufacturing sectors and Heat treatment makes metals more application specific
Asia pacific held a substantial share of the Heat Treating Market in 2020.
some of key players in Heat Treating Market are Bohler Uddeholm, Bluewater Thermal Solutions, American Metal Treating Inc., Ajax Tocco International Ltd., Solar Atmosphere Inc, and Bodycote Heat Treatments Ltd., are some of the major players among others.