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The heat treatment process is widely used in various industries as it helps enhance the mechanical properties of different metals and alloys, which aids in the manufacturing of various end-use products. The process helps to increase the strength of the object while making it more ductile and flexible for further use. In terms of region, the Asia Pacific is likely to account for a significant share in the market owing to the thriving automotive and military and defence industries in the region. The increased production of fighter aircraft and tanks and various automotive parts, among others, is likely to augment the growth of the heat treating industry in the region.
There have been increased investments by the industry players to enhance their geographical reach and expand their production capacity. For instance, in December 2020, Bodycote PLC (LON: BOY), a supplier of heat treatments and metal joining services, announced the opening of its new facility in Syracuse, New York, USA. The facility, encompassing an area of 60,000 square feet, is fully operational and offers a wide range of heat treatment processes such as vacuum heat treating, atmospheric carburising, carbonitriding, ferritic nitro carburising, nitriding, and aluminum heat treating, among others. Such developments are expected to aid the market growth in the forecast period. Moreover, the various strategies adopted by the leading automotive manufacturers, such as General Motors Company (NYSE: GM), to enhance their market position are expected to drive the demand for heat treating for various applications, as the automotive industry is one of the major end users of the service.
Market Breakup by Material, Process, Equipment, Application, and Region:
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The major players in the global heat treating market are Bluewater Thermal Solutions LLC, American Metal Treating Inc., East-Lind Heat Treat Inc., and Unitherm Engineers Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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