As per analysts at Zion Market Research, the — global heat treating market is anticipated to grow with a CAGR of above 3.9% during the forecasted period 2020–2026. The rising heat treating use in construction, aerospace, machining, automotive, and electrical & electronics industries is likely to play the major market driver in the future. Heat treatment is a method utilized to alter characteristics of metals & alloys by the heating and cooling course. The method is utilized to get the desired product apt for some particular application. Additionally, the heating treatment also surges the tensile strength and toughness of steel or metal for the building application.
Some of the key players in the market are Bohler Uddeholm; Bluewater Thermal Solutions; Solar Atmosphere Inc.; American Metal Treating Inc.; Bodycote Heat Treatments Ltd.; and Ajax Tocco International Ltd.
Increasing Presence Of Automotive Manufacturers To Boost The Global Heat Treating Market
The automotive industry has a major role in driving the heat treating services across budding economies like India, Brazil, Mexico, Indonesia, and China. The automotive producers have been boosting the demand for heat-treating in the last few years. The amplifying presence of major automotive players in the above-mentioned countries has contributed to the development of the heat treatment market. Various components & parts of automobiles go through heavy stress and therefore need high durability. A proficient heat treating can offer strength and advance mechanical performance. The metal heat treatment industry is extremely energy-intensive, due to which industry participants experience several constraints. The use of highly energy-incompetent equipment has a risk to the environment and affects operational efficiency.
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The global heat treating market is bifurcated on the basis of material, process, equipment, application, and regional analysis. Based on the material, the market is divided into steel, cast iron, and others. Based on the process, the market is divided into case hardening, normalizing, hardening & tempering, annealing, and others. Based on the equipment, the market is divided into electrically heated furnace, fuel-fired furnace, and others. Based on the application, the market is divided into metalworking, automotive, aerospace, construction, machine, and others.
The Asia Pacific Region Projected To Dominate The Global Heat Treating Market
Based on geographical analysis, the global heat treating market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific region ruled the metal heat treating market in relation to revenue. These services across the region are mainly driven by rapidly augmenting aerospace, automotive, and construction industries in key budding economies like China, India, and Indonesia.
The global heat treating market is segmented as follows:
Hardening & tempering
Electrically heated furnace
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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