The report “Heat Treating Market, By Material (Ferrous Metal (Steel, Iron, Alloys, and
Stainless Steel) and Non-Ferrous Metal (Aluminum, Copper, Brass, and Titanium)), By
Equipment (Fuel-Fired Furnace, Electrically Heated Furnace, Quench Or Cooling
Equipment, Material Handling System, and Others (Testing, Quality Control, and Metal
Cleaning Equipment)), By Process (Hardening, Tempering, Annealing, Normalizing, and
Others (Carburizing, Carbonitriding, Quenching, and Stress Relieving)), By Application
(Automotive and Machinery, Metalworking and Construction, Aerospace and Defence,
Forging and Foundry, Powder Metal Industries, and Others (Food and Beverages, Oil and Gas, and Transportation)), and Region – Global Forecast to 2029″ Heat treating marketis projected to grow from US$ 103.0 billion in 2020 to US$ 142.3 billion by 2029. Increasing utilization of metal treatment services in automotive, aerospace, construction, energy, and metalworking applications drive the global heat treating market. Further, rising steel in construction and machining applications is expected to fuel the global heat treating market.
Key Highlights:
- In January 2018, Ovako Group ABlaunched “Heat Treatment Guide”, the first digital tool on the market to permit customers to calculate the mechanical properties of selected steel after heat treatment.
- On September 2017, ESI Group SA launched SYSWELD software is solution for assembly, welding and heat treatment.
Key Market Insights from the report:
The global heat treating market accounted for US$ 103.0 billion in 2020 and is projected to register a CAGR of 3.7% over the forecast period. The market report has been segmented on the basis of material, equipment, process, application, and region.
- By material, the steel segment is dominated in the global heat treating market, owing to increasing use of steel in construction and machining applications.
- By equipment, the electric heated furnace segment is dominated in the global heat treating market due to electric heated furnace service allowed providers to save fuel cost and improve operational efficiency.
- By process, the global heat treating market is segmented into hardening, tempering, annealing, normalizing, and others. Others process sub-segment is segmented into carburizing, carbonitriding, quenching, and stress relieving.
- By application, the automotive and machinery segment is dominated in the global heat treating market, owing to increasing vehicle production across the globe.
- By region, Asia Pacific heat treating market is expected to dominate in terms of revenue in the global heat treating market over the forecast period. This is attributed to rising automotive, aerospace and construction industries across emerging economies such as India and China of the region.
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The prominent player operating in the global heat treating market includes Bluewater Thermal
Solutions LLC, Bodycote Heat Treatments Ltd, Summitglow Ltd, Ajax TOCCO International Ltd, Metcor Inc, Ovako Group AB, AGRISOVGAZ LLC, ESI Group SA, Engineered Heat Treat Inc, and Tri-City Heat Treat Co.
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