Base Year
Historical Year
Forecast Year
The global heat treating market stood at a value of around USD 112.48 billion in 2023. The market is further expected to grow at a CAGR of 4.9% in the forecast period of 2024-2032 to attain a value of USD 172.03 billion by 2032.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Process |
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| Breakup by Equipment |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global heat treating market attained a value of nearly USD 112.48 billion.
The market is estimated to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 172.03 billion by 2032.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The rising applications of heat treatment in the automotive and aerospace sectors, growing construction activities in emerging economies, and the increasing demand for commercial aircraft and automobiles are the major drivers of the market.
The key trends guiding the market growth include technological advancements in the automotive and aerospace sectors, the robust growth of the metalworking sector, and the growing use of hardened steel in diverse applications.
Steel and cast iron, among others, are the different materials considered within the market report.
The major segments based on process of heat treating considered in the market report are hardening and tempering, case hardening, annealing, and normalising, among others.
The various equipment included in the market report are fuel-fired furnace and electrically-heated furnace, among others.
Automotive, aerospace, metalworking, machine, and construction, among others, are the significant applications of heat treating.
The major players in the market are Bluewater Thermal Solutions LLC, American Metal Treating Inc., East-Lind Heat Treat Inc., and Unitherm Engineers Limited, among others.
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193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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