Global Heat Treating Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global heat treating market size reached US$ 100.6 Billion in 2022. Looking forward, the market is expected to reach US$ 127.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.96% during 2022-2028.

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.

Key Market Segmentation

This research 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. The report has categorized the market based on material, process, equipment and application.

Breakup by Material:

• Steel
• Cast Iron

Breakup by Process:

• Hardening and Tempering
• Case Hardening
• Annealing
• Normalizing

Breakup by Equipment:

• Fuel-Fired Furnace
• Electrically Heated Furnace

Breakup by Application:

• Automotive
• Aerospace
• Metalworking
• Construction

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• 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

1. How big is the global heat treating market?
2. What is the expected growth rate of the global heat treating market during 2023-2028?
3. What are the key factors driving the global heat treating market?
4. What has been the impact of COVID-19 on the global heat treating market?
5. What is the breakup of the global heat treating market based on the material?
6. What is the breakup of the global heat treating market based on the process?
7. What is the breakup of the global heat treating market based on the equipment?
8. What is the breakup of the global heat treating market based on the application?
9. What are the key regions in the global heat treating market?
10. Who are the key players/companies in the global heat treating market?