The global heat treating market size is expected to reach USD
122.34 billion by 2025, according to a new report by Grand View Research, Inc.,
exhibiting a 3.5% CAGR during the forecast period. Increasing penetration of
metal treatment services in automotive, aerospace, construction, energy, and
metalworking applications is expected to act as a key market driver over the
forecast period.
Steel is a key material used in the metal heat
treatment industry. Increasing use of steel in construction and machining
applications is projected to positively impact segment growth over the forecast
years. Other metals commonly used include aluminum, iron, copper, and nickel.
Aluminum is expected to witness significant growth on account of increasing
penetration of the metal in aerospace and automotive industries.
The most commonly used processes for heat
treatment include hardening and tempering, case hardening, and annealing. Case
hardening is expected to witness significant growth over the forecast period
due to growing popularity of carburizing, nitrding, and carbonitriding for
surface hardening in metalworking and machining applications.
Automotive emerged as the dominant application
segment in terms of market share in 2016. However, aerospace is expected to
witness highest growth during the next eight years on account of a
rapidly-growing aerospace industry in emerging economies worldwide. Companies
in the domain including Bluewater Thermal Solutions; Bodycote Heat Treatments
Ltd.; Summitglow Ltd.; Ajax Tocco International; and Metcor Inc. are involved
in furnace manufacturing, treatment services, and surface treatment facilities.
For full research report on Heat
Treating Market visit here: https://www.grandviewresearch.com/industry-analysis/heat-treating-market
Further key
findings from the report suggest:
- The heat treating market was valued at USD
90.73 billion in 2016 and is expected to exhibit a CAGR of 3.5% from 2017
to 2025. The market is primarily driven by increasing demand for metal
treatment services from key end-use verticals
- The cast iron material segment was valued at
USD 9.43 billion in 2016 and is projected to witness comparatively slower
growth over the forecast period. This can be attributed to increasing use
of other metals such as aluminum, copper, titanium, and nickel in various
end-use industries
- In 2016, the case hardening process segment
was valued at USD 23.99 billion, expanding at the highest CAGR of 3.7%
over the forecast period. This growth can be attributed to increasing use
of carburizing for surface hardening as opposed to conventional hardening
- Asia Pacific dominated the global market in
terms of revenue; the market was valued at USD 34.21 billion in 2016 and
is projected to expand at a CAGR of 3.9%. Rapid growth in key end-use
industries across emerging economies of India, China, Indonesia, and
Vietnam, among others is expected to benefit regional market growth over
the forecast years
- Key industry participants are engaged in
technical collaborations, mergers with furnace manufacturers, and
strategies to expand geographical reach in order to increase profit
margins and application portfolios.
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here: https://www.grandviewresearch.com/industry-analysis/heat-treating-market/request/rs1
Grand
View Research has segmented the global heat treating market on the basis of
material, process, equipment, application, and region:
Heat Treating
Material Outlook (Revenue, USD Million, 2014 - 2025)
- Steel
- Cast iron
- Others
Heat Treating
Process Outlook (Revenue, USD Million, 2014 - 2025)
- Hardening &
tempering
- Case hardening
- Annealing
- Normalizing
- Others
Heat Treating
Equipment Outlook (Revenue, USD Million, 2014 - 2025)
- Fuel-fired furnace
- Electrically heated
furnace
- Others
Heat Treating
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Automotive
- Aerospace
- Metalworking
- Machine
- Construction
- Others
Heat Treating
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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