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The global heat treating market stood at a value of around USD 107.43 billion in 2022. The market is further expected to grow at a CAGR of 4.7% in the forecast period of 2023-2028 to attain a value of USD 143.16 billion by 2028.
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Based on material, the steel segment accounts for a significant share in the market and is anticipated to attain a considerable growth in the forecast period. This can be attributed to the suitability of heat treatment in order to carry out various phase transformations involved in plain carbon steel and low-alloy steel. Over the forecast period, the growing use of hardened steel in various end use industries due to its superior machinability for heavy-duty applications is likely to propel the industry growth. Meanwhile, the cast iron segment is anticipated to occupy a considerable share in the forecast period owing to the high compressive strength, wear resistance, and good machinability of cast iron, which makes it ideal for manufacturing automotive parts, utensils, and anchor for ships, among others.
The heat treatment market in the Asia Pacific is anticipated to grow at a significant rate in the forecast period owing to the thriving construction and metalworking industries, among others. The market in the region is anticipated to be bolstered by the rising demand for commercial aircraft and vehicles, owing to the growing travel and tourism industry in countries like India and China, coupled with the increasing disposable incomes. Furthermore, the market is expected to be aided by the growing efforts of major automotive players to expand their business in emerging markets.
Heat treating is defined as a combination of heating and cooling operations performed on a metal or alloy in the solid state to produce desired properties. The heating treatment is often associated with enhancing the strength of the material to obtain certain manufacturing objectives.
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Based on material, the market is divided into:
On the basis of process, the industry is segmented into:
The different equipment involved in the market are:
The major applications of heat treating include:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global heat treating industry is driven by the rising heat treatment applications in the automotive and aerospace industries. This can be attributed to the fact that heat treatment augments the strength and durability of a metal which is used in the manufacturing of automobiles, aircraft, and various construction materials. For instance, in the automotive industry, the hardening of metal bolsters the overall quality of automobiles, which provides safety to consumers. Over the forecast period, the resurgence of the construction projects in emerging economies of the world, post-COVID-19, is likely to provide impetus to the global market for heat treating.
The report gives a detailed analysis of the following key players in the global heat treating market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
---|---|
Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Material, Process, Equipment, Application, Region |
Breakup by Material | Steel, Cast Iron, Others |
Breakup by Process | Hardening and Tempering, Case Hardening, Annealing, Normalising, Others |
Breakup by Equipment | Fuel-fired Furnace, Electrically-heated Furnace, Others |
Breakup by Application | Automotive, Aerospace, Metalworking, Machine, Construction, Others |
Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
Companies Covered | Bluewater Thermal Solutions LLC, American Metal Treating Inc., East-Lind Heat Treat Inc., Unitherm Engineers Limited, Others |
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Heat Treating Market Analysis
8.1 Key Industry Highlights
8.2 Global Heat Treating Historical Market (2018-2022)
8.3 Global Heat Treating Market Forecast (2023-2028)
8.4 Global Heat Treating Market by Material
8.4.1 Steel
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Cast Iron
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Heat Treating Market by Process
8.5.1 Hardening and Tempering
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Case Hardening
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Annealing
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Normalising
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Heat Treating Market by Equipment
8.6.1 Fuel-fired Furnace
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Electrically-heated Furnace
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Heat Treating Market by Application
8.7.1 Automotive
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Aerospace
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Metalworking
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Machine
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Construction
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.7.6 Others
8.8 Global Heat Treating Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Heat Treating Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Heat Treating Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Heat Treating Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Heat Treating Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Heat Treating Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Marke Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Bluewater Thermal Solutions LLC
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 American Metal Treating Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 East-Lind Heat Treat Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Unitherm Engineers Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Heat Treating Market: Key Industry Highlights, 2018 and 2028
2. Global Heat Treating Historical Market: Breakup by Material (USD Billion), 2018-2022
3. Global Heat Treating Market Forecast: Breakup by Material (USD Billion), 2023-2028
4. Global Heat Treating Historical Market: Breakup by Process (USD Billion), 2018-2022
5. Global Heat Treating Market Forecast: Breakup by Process (USD Billion), 2023-2028
6. Global Heat Treating Historical Market: Breakup by Equipment (USD Billion), 2018-2022
7. Global Heat Treating Market Forecast: Breakup by Equipment (USD Billion), 2023-2028
8. Global Heat Treating Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global Heat Treating Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global Heat Treating Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Heat Treating Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Heat Treating Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Heat Treating Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Heat Treating Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Heat Treating Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Heat Treating Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Heat Treating Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Heat Treating Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Heat Treating Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Heat Treating Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Heat Treating Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Heat Treating Market Structure
In 2022, the global heat treating market attained a value of nearly USD 107.43 billion.
The market is estimated to grow at a CAGR of 4.7% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 143.16 billion by 2028.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the industry, such as the rising applications of heat treatment in the automotive and aerospace sectors, rising construction activities in emerging economies, increasing demand for commercial aircraft and automobiles, and expanding automotive industry in developing nations, among others, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the technological advancements in the automotive and aerospace industries.
Steel, cast iron, and others are the different materials considered within the market report.
Hardening and tempering, case hardening, annealing, and normalising, among others are the different processes considered within the market report.
Fuel-fired furnace, electrically-heated furnace, and others are the different equipments used for heat treating.
Automotive, aerospace, metalworking, machine, and construction, among others are the significant applications of heat treating.
The major players in the industry are Bluewater Thermal Solutions LLC, American Metal Treating Inc., East-Lind Heat Treat Inc., and Unitherm Engineers Limited, among others.
The global heat treating market attained a value of USD 107.43 billion in 2022, driven by the growing demand for steel and cast iron in various industries. Aided by the growing technological advancements in the automotive and aerospace industries, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.7%. The market is projected to reach USD 143.16 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of material, the market is divided into steel and cast iron, among others. Based on process, the market is segmented into hardening and tempering, case hardening, annealing, and normalising, among others. By equipment, the market is divided into fuel-fired furnace, electrically-heated furnace, and others. On the basis of application, the market is divided into automotive, aerospace, metalworking, machine, and construction, among others. The major regional markets for heat treating are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Bluewater Thermal Solutions LLC, American Metal Treating Inc., East-Lind Heat Treat Inc., and Unitherm Engineers Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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