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Global Heat Treating Market: By Material: Steel, Cast Iron, Others; By Process: Hardening and Tempering, Case Hardening, Annealing, Normalising, Others; By Equipment; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Heat Treating Market Outlook

The global heat treating market stood at a value of around USD 98 billion in 2020. The market is further expected to grow at a CAGR of 4.7% in the forecast period of 2021-2026 to attain a value of USD 130.6 billion by 2026.

 

Growing Demand for Steel and Cast Iron, owing to their High Strength and Durability, to Bolster the Growth of the Heat Treating Industry

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.

 

Global Heat Treating Market

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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 Asia Pacific Accounts for a Significant Share in the Heat Treating Industry

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: Industry Definition and Segmentation

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.

Based on material, the market is divided into:

  • Steel
  • Cast Iron
  • Others

On the basis of process, the industry is segmented into:

  • Hardening and Tempering
  • Case Hardening
  • Annealing
  • Normalising
  • Others

The different equipment involved in the market are:

  • Fuel-fired Furnace
  • Electrically-heated Furnace
  • Others

The major applications of heat treating include:

  • Automotive
  • Aerospace
  • Metalworking
  • Machine
  • Construction
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Heat Treatment Applications in the Automotive and Aerospace Industries to Boost the Growth of the Heat Treating Industry

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.

 

Key Industry Players in the Global Heat Treating Market

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:

  • Bluewater Thermal Solutions LLC
  • American Metal Treating Inc.
  • East-Lind Heat Treat Inc.
  • Unitherm Engineers Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
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, EMR’s 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.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Heat Treating Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Heat Treating Historical Market (2016-2020) 
    8.3    Global Heat Treating Market Forecast (2021-2026)
    8.4    Global Heat Treating Market by Material
        8.4.1    Steel
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Cast Iron
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Others
    8.5    Global Heat Treating Market by Process 
        8.5.1    Hardening and Tempering
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Case Hardening
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Annealing
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Normalising
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Others
    8.6    Global Heat Treating Market by Equipment
        8.6.1    Fuel-fired Furnace
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Electrically-heated Furnace
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Others
    8.7    Global Heat Treating Market by Application
        8.7.1    Automotive
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Aerospace
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Metalworking
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Machine
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Construction
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Others
    8.8    Global Heat Treating Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Bluewater Thermal Solutions LLC
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    American Metal Treating Inc.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    East-Lind Heat Treat Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Unitherm Engineers Limited
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Heat Treating Market: Key Industry Highlights, 2016 and 2026
2.    Global Heat Treating Historical Market: Breakup by Material (USD Billion), 2016-2020
3.    Global Heat Treating Market Forecast: Breakup by Material (USD Billion), 2021-2026
4.    Global Heat Treating Historical Market: Breakup by Process (USD Billion), 2016-2020
5.    Global Heat Treating Market Forecast: Breakup by Process (USD Billion), 2021-2026
6.    Global Heat Treating Historical Market: Breakup by Equipment (USD Billion), 2016-2020
7.    Global Heat Treating Market Forecast: Breakup by Equipment (USD Billion), 2021-2026
8.    Global Heat Treating Historical Market: Breakup by Application (USD Billion), 2016-2020
9.    Global Heat Treating Market Forecast: Breakup by Application (USD Billion), 2021-2026
10.    Global Heat Treating Historical Market: Breakup by Region (USD Billion), 2016-2020
11.    Global Heat Treating Market Forecast: Breakup by Region (USD Billion), 2021-2026
12.    North America Heat Treating Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    North America Heat Treating Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Europe Heat Treating Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Europe Heat Treating Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Asia Pacific Heat Treating Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Asia Pacific Heat Treating Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Latin America Heat Treating Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Latin America Heat Treating Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Middle East and Africa Heat Treating Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Middle East and Africa Heat Treating Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Global Heat Treating Market Structure

Key Questions Answered in the Report

In 2020, the global heat treating market attained a value of nearly USD 98 billion.

The market is estimated to grow at a CAGR of 4.7% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach USD 130.6 billion by 2026.

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.

Analyst Review

The global heat treating market attained a value of USD 98 billion in 2020, 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 2021-2026, growing at a CAGR of 4.7%. The market is projected to reach USD 130.6 billion by 2026.

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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