Heat Treating Market Size, Share & Industry Analysis, By Material (Steel , Cast Iron , Others), By Equipment (Fuel Fired Furnace , Electrically Heated Furnace , Others), By End-User (Automotive, Aerospace, Metalworking, Machine, Construction, Others) And Regional Forecast, 2024-2032

The heat-treating method is used to alter the physical and chemical properties of a material. The Heat Treating process consists of annealing, hardening, tempering, quenching, carburizing, and carbonitriding and equipment like salt bath furnaces, batch type furnaces, vacuum furnace, deep freeze, and high-speed tool steels. The global heat treating market is rapidly increasing across the globe, owing to the increasing demand from automotive, aerospace, construction, energy, and metalworking applications.

Based on material, the global market is classified into steel, cast iron, and others. The steel segment accounted for the major share of the market in 2020, owing to its high tensile strength, and lightweight properties. Aluminum is also the key segment of the market. It is primarily used in the production of automotive components and aerospace parts. The other segment comprises aluminum, copper alloys, nickel alloys, brass, titanium alloys, and other metals.

Based on equipment, the market is classified into fuel-fired furnaces, electrically heated furnaces, and others. Electrically heated furnaces dominated the market in 2020. Electrically heated furnace helps to save the fuel cost and also operate at high operational efficiency. Fuel fired furnaces are mainly operate using fossil fuels and gases. An increasing number of regulations on boiler emissions, standard temperature, and effluents from furnaces has led to a shift from fuel-fired furnaces to electric furnaces.

Based on application, the market is classified into automotive, aerospace, metalworking, machine, construction, and others. Among these, the automotive segment accounted for the major share of the market and it expected that it will maintain its dominance during the forecast period, owing to rapidly increasing production lightweight vehicle production across the globe. Construction is also the key segment of the market, as steel structures are widely used in construction, such as beams, columns, and grills.

The global heat treating market is mainly driven by the increasing demand from the automotive and construction industry. In the automotive sector, the heat-treating method is mainly used in the production of lightweight parts, as heat treatment improves hardness as well as the tensile strength of the metal along with imparting rust resistance to the metal. Apart from this, the use of heat treating services in construction activities and manufacturing units will further expand the market scope in the foreseeable future. Heat treatment increases ductile strength, durability, tensile strength, and toughness of steel for construction application.

The key restraint of the market is the high cost associated with the initial setup of heat treating system coupled with stringent environmental regulations on fuel-based furnaces

Key Players Covered:

Some of the major companies in the heat treating market include Bluewater Thermal Solutions, American Metal Treating Inc., East-Lind Heat Treat Inc., General Metal Heat Treating, Inc., Shanghai Heat Treatment Co. Ltd., Unitherm Engineers Limited, Triad Engineers, Solar Atmosphere Inc., Ajax Tocco International Ltd., and Bodycote Heat Treatments Ltd.

Regional Analysis:

The global heat treating market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the major share of the market in 2020.  This is attributable to the rapid-paced industrialization and urbanization in the region. Heat treating services are largely driven by rapidly growing automotive, aerospace, and construction industries across key emerging economies such as India, China, and Indonesia. The North American market is likely to be driven by the rising automotive and aerospace industry across the region.  The aerospace sector in the region is expected to witness the highest growth, due to the rising manufacturing of aircraft parts and systems in the U.S. & Canada. The rapidly growing construction industry in Latin America & Middle East & Africa on account of increasing government expenditure on key infrastructure projects is expected to drive demand in the construction sector over the forecast period.

Segmentation

Key Industry Developments

• In December 2020, Bodycote Heat Treatments Ltd. open a new facility in Elgin, Illinois, U.S. This new facility will provide heat treatment process in agricultural, mining, construction, automotive customers across the region.


• In January 2021, Solar Atmospheres Greenville has awarded GE Aviation approval for vacuum heat treating and brazing services.