Heat treating market from Carburizing process segment is slated to expand at a 4.6% CAGR in the coming years. Its applications are expanding due to the growing demand for high loadbearing alloy steels. The diffusion of carbon into the steel surface can increase surface hardness and corrosion resistance capabilities significantly.
The different types of equipment used for heat treating include fuel-fired furnaces and electrically heated furnaces, among others such as vacuum heat treating. The others segment generated US$20 billion in revenue during 2020. Vacuum heat treating is emerging as the preferred choice across various industries owing to benefits such as high shear strength, high flexibility, and no risk of discoloration. Moreover, the system is computerized and can thus control the uniformity of materials.
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With rapid urbanization and fast-growing infrastructure development, mainly in developing economies, the heat treating industry share from the construction sector is slated to grow at a 3.8% CAGR through 2027. Heat treatment materials are experiencing demand in construction equipment, appliances, hand tools, and other machinery. These materials are designed and customized to offer high reliability and meet the specifications of the construction sector.
Steel and cast iron are typically used in heat treating applications. Other materials include aluminum, magnesium, and nickel. The others segment is projected to grow at a 4.4% CAGR in the heat treating industry in the coming years. These materials are widely gaining traction owing to high ductility and formability, which make them suitable for use in various end-use sectors.
The heat treating market will have tremendous opportunities over the next few years with the increased adoption of lightweight materials across different end-use verticals. Demand for heat treatment products is increasing owing to exceptional physical characteristics such as high strength, impact resistance, and robust machinability.
A positive application outlook in automotive, construction, aerospace and other key sectors is driving the heat treating market forward. Following the impacts of COVID-19, construction activities and automotive production are starting to gather pace. Quick recovery in these sectors will amplify the demand for heat treatment products.
Europe is expected to capture more than 26% of the overall heat treating market share by 2027. Large-scale infrastructure projects in Germany, France, and the U.K. are starting to gain momentum as urbanization increases. Government investments in the both residential and commercial expansion are on the rise. In addition to opportunities in construction, an established automotive sector will benefit the Europe heat treating industry outlook.
Bodycote Heat treatings Ltd., Specialty Steel Treating, Bluewater Thermal Solutions, Avdhoot Heat Treat Pvt Ltd., Metcor Inc., Summitglow Ltd., Euclid Heat Treating, Metal Heat Co., Ltd., Advanced Heat treating Corporation, Houston Heat Treat, Peters Heat Treating Inc., Nitrex, Premier Thermal Solutions LLC, Advanced Heat Treat Corp., Thermex Metal Treating Ltd., and Team Inc. are some of the prominent players in the global heat treating market.
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Some Point from Table of Contents:
Chapter 4 Global Heat Treating Market, By Material
4.1 Global heat treatment market material insights
4.2 Steel
4.2.1 Market estimates and forecast, 2017 – 2027
4.2.2 Market estimates and forecast by region, 2017 – 2027
4.3 Cast iron
4.3.1 Market estimates and forecast, 2017 – 2027
4.3.2 Market estimates and forecast by region, 2017 – 2027
4.4 Others
4.4.1 Market estimates and forecast, 2017 – 2027
4.4.2 Market estimates and forecast by region, 2017 – 2027
Chapter 5 Global Heat Treating Market, By Process
5.1 Global heat treatment market process insights
5.2 Carburizing
5.2.1 Market estimates and forecast, 2017 – 2027
5.2.2 Market estimates and forecast by region, 2017 – 2027
5.3 Nitriding
5.3.1 Market estimates and forecast, 2017 – 2027
5.3.2 Market estimates and forecast by region, 2017 – 2027
5.4 Hardening
5.4.1 Market estimates and forecast, 2017 – 2027
5.4.2 Market estimates and forecast by region, 2017 – 2027
5.5 Tempering
5.5.1 Market estimates and forecast, 2017 – 2027
5.5.2 Market estimates and forecast by region, 2017 – 2027
5.6 Normalizing
5.6.1 Market estimates and forecast, 2017 – 2027
5.6.2 Market estimates and forecast by region, 2017 – 2027
5.7 Annealing
5.7.1 Market estimates and forecast, 2017 – 2027
5.7.2 Market estimates and forecast by region, 2017 – 2027
5.8 Others
5.8.1 Market estimates and forecast, 2017 – 2027
5.8.2 Market estimates and forecast by region, 2017 – 2027
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