Heat Treating Market, By Material (Steel and Cast Iron), By Process (Hardening & Tempering, Case Hardening, Annealing, and Normalizing), By Equipment (Fuel-Fired and Electrically-Heated Furnace), By Application and Geography (North America, Europe, Asia Pacific, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025

REPORT HIGHLIGHT

The heat treating market was valued at USD 93.4 billion by 2017, growing with 3.7% CAGR during the forecast period, 2018-2025

Market Dynamics

Heat treating can be described as the process of heating metals and cooling it under tight controls for improving its durability, performance, and bringing changes in its physical properties. The market size of the global heat-treating industry is expected to increase due to the Surge in the penetration of heat treating applications in electronics, machining, construction, automotive, and aerospace industry will turn out to be a potential driver of the market over the next eight years.

The two significant application segments of heat-treating are aerospace and automotive. The aerospace segment is experiencing extensive demand for heat treating service due to a steady surge in the volume of air passenger traffic, high aviation demand, and increasing demand for commercial vehicles. In emerging economies like Brazil, India, China, Mexico and Indonesia, the automotive industry is playing an important role in market development. Over the past few years, the demand for heat treating have been significantly leveraged by automotive manufacturers. The dominating presence of major automotive manufacturers in the aforementioned countries have been contributing in the industry growth. The structural components and parts of an automobile are subjected to heavy stress necessitating high durability. Efficient heat treating can improve mechanical performance and provide strength.

Material Takeaway

Diverse materials are subjected to treatment for varied applications, which include key materials like titanium alloys, brass, nickel alloys, copper alloys, aluminum, cast iron, and steel. As far materials are concerned, the industry is dominated by steel. Increasing usage of aluminum in the various applications is expected to bring the high market share for steel material. The market growth for metals with high tensile strength and lightweight such as aluminum brings about a reduction in the primary and secondary weight of automobiles and aircraft. It will drive the market growth for metals like aluminum.

Process Takeaway

The two most common processes of heat treatment are hardening and tempering. In terms of processes, case hardening accounted for the largest share. The process will witness highest growth during the forecasted period on account of increasing use of case hardening processes in end-user applications like carbonitriding, cyaniding, and carburizing. The growth in this segment is catalyzed by the considerable improvement in chemical and mechanical properties resulting from these processes.

In applications like aerospace, defenses, and automotive, there will be an increasing use of annealing and hardening processes, which will bring about a considerable reduction in the market segment of the conventional hardening process.

Equipment Takeaway

In 2017, the heat treatment equipment industry as dominated by the electrically heated furnaces. The segment will witness highest growth over the study period due to rising popularity of electrical furnaces among industry players. Ovens, boilers, and electrically heated furnaces allows service providers to optimize operational efficiency and prevent unwanted expenditures on fuel cost.

Application Takeaway

The global market is dominated by automotive and aerospace. Further, the surge in vehicle production all over the world will drive the market growth. Upsurge in the demand for light commercial vehicles and economy cars in the worldwide industry of automotive is going to augment the industry growth.

One of the major applications of heat treatment is in construction. Different kind of steel structures like grills, columns, and beams are used in construction. Different components and systems of roof cladding also require this treatment. The growth in the market segment of construction will be facilitated through increasing government expenditure on infrastructural projects particularly in the Asia-Pacific region.

Regional Takeaway

In terms of revenue, the market is dominated by the Asia-Pacific region. Growth in the construction industry, aerospace, and automotive in emerging countries like Indonesia, China, and India are some of the major reason for this development. Upsurge in the manufacturing of aircraft systems and parts in developing economies like China, and India will also bring about highest growth in the region’s aerospace application. In North America, the industry will be bolstered by the increase in manufacturing activities and automobile production in the U.S. and Canada.

Key Vendor Takeaway

Some of the leading companies in the global industry are Shanghai Heat Treatment Company, Bluewater Thermal Solutions, General Metal Heat Treating, Solar Atmosphere Incorporated, Bohler Uddeholm, East-Lind Heat Treat Inc., Ajax Tocco International Limited, Pacific Metallurgical Inc., American Metal Treating, Bodycote Heat Treatments Limited, Triad Engineers, and SECO/WARWICK Allied Pvt Limited. Key players are engaged in vertical integration across the supply chain, from the furnace manufacturing to post-treatment activity. Along with, companies are offering post treatment and finishing facilities to their customers to capture large customer base.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY MATERIAL

Steel
Cast Iron
Others
MARKET, BY PROCESS

Hardening & Tempering
Case Hardening
Annealing
Normalizing
Others
MARKET, BY EQUIPMENT

Fuel-Fired Furnace
Electrically-Heated Furnace
Others
MARKET, BY APPLICATION

Automotive
Aerospace
Metalworking
Others
MARKET, BY REGION

North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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