Heat Treating Market Overview:
According to the latest report by IMARC Group, titled “Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global heat treating market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global heat treating market reached a value of US$ 96.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 121.4 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027.
Heat treating is used to alter the properties of metals and alloys by heating and cooling process. The method is used to achieve the desired product suitable for some specific application. The process consists of annealing, hardening, tempering, quenching, carburizing, and carbonitriding. The heat-treating technique also includes various equipment, such as salt bath furnaces, batch-type furnaces, vacuum furnaces, deep freeze, and high-speed tool steels. There are different types of heat-treating techniques, and each differs based on heating temperature and the cooling rate as per the requirement. The heating treatment technique effectively increases steel or metal’s tensile strength and toughness for construction applications.
The COVID 19 pandemic has adversely affected the heat-treating market. The outbreak of the pandemic led to a shutdown of manufacturing facilities across the globe. It had a crippling effect on various sectors worldwide. Furthermore, the halting of industrial production activities impacted metal production, especially steel. The disruptions caused by COVID 19 led to a temporary shutdown of the construction and automotive industry, loss of investment, and termination of planned projects, thereby negatively affecting the market growth
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Market Trends and Drivers:
The global market is majorly driven by the increasing demand for steel and cast iron. In line with this, the growing use of hardened steel in various end-use industries due to its superior machinability for heavy-duty applications is significantly contributing to the market. Furthermore, significant growth in the construction industry is positively influencing the market across the globe.
Apart from this, the rising demand for commercial aircraft and vehicles owing to the growing travel and tourism industry is catalyzing the market. Moreover, the increasing heat treatment applications in the automotive and aerospace sectors are propelling the market. Besides this, the growing need to change the composition of ferrous and non-ferrous metals to produce a customized product for end-use applications among various industries is aiding the market growth.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ajax TOCCO International Ltd
- American Metal Treating Inc
- Bluewater Thermal Solutions
- Bodycote plz
- East-Lind Heat Treat Inc.
- General Metal Heat Treating
- Nabertherm GmbH
- Pacific Metallurgical Inc
- Seco/Warwick Inc.
- Thermax Limited
- Unitherm Engineers Limited
Key Market Segmentation Breakup by:
- Cast Iron
- Hardening and Tempering
- Case Hardening
- Fuel-Fired Furnace
- Electrically Heated Furnace
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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