Heat Treating Market Report by Material (Steel, Cast Iron, and Others), Process (Hardening and Tempering, Case Hardening, Annealing, Normalizing, and others), Equipment (Fuel-Fired Furnace, Electrically Heated Furnace, and Others), Application (Automotive, Aerospace, Metalworking, Construction, and Others), and Region 2024-2032
The global heat treating market size reached USD 104.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 143.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 104.6 Billion
Market Forecast in 2032
USD 143.3 Billion
Market Growth Rate 2024-2032
3.4%
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:
IMARC Group 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 2024-2032. Our report has categorized the market based on material, process, equipment and application.
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
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
Billion USD
Segment Coverage
Material, Process, Equipment, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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
Customization Scope
10% Free Customization
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global heat treating market was valued at USD 104.6 Billion in 2023.
We expect the global heat treating market to exhibit a CAGR of 3.4% during 2024-2032.
The rising utilization of heat treating across various industries, such as automotive, aerospace, construction, etc., as it offers enhanced ductile strength, improved tensile strength, and higher level of durability, is primarily driving the global heat treating market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for heat treating.
Based on the material, the global heat treating market has been divided into steel, cast iron, and others. Among these, steel currently exhibits a clear dominance in the market.
Based on the process, the global heat treating market can be categorized into hardening and tempering, case hardening, annealing, normalizing, and others. Currently, case hardening accounts for the majority of the global market share.
Based on the equipment, the global heat treating market has been segregated into fuel-fired furnace, electrically heated furnace, and others, where electrically heated furnace currently holds the largest market share.
Based on the application, the global heat treating market can be bifurcated into automotive, aerospace, metalworking, construction, and others. Currently, automotive exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global heat treating market include 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.
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