Press release
Global Heat Treating Market to Reach $140.99 Billion by 2029, Growing at 6% CAGR
Heat Treating Market Growth
The expansion of the automotive sector is anticipated to fuel the progression of the heat-treating market. Heat treatment plays a key role in numerous aspects of the automotive industry, such as hardening aluminium body parts and reinforcing engine and drivetrain elements. An uptick in automobile production is predicted to result in heightened demand for this heat treatment process. For instance, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a French-based international organization for car manufacturers, reported that the global automotive industry witnessed remarkable expansion in 2023, with the output of vehicles totaling at 93546599 units. This was a substantial escalation compared to the production of 85016728 units in the previous year, 2022. Therefore, the increased demand from end-user sectors is likely to propel the market forward.
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What is the projected compound annual growth rate (CAGR) of the heat treating market from 2025 to 2034, and what factors influence it?
The market size of heat treatment has been steadily expanding in the last few years. It is predicted to rise from $107.51 billion in 2024 to $112.26 billion in 2025 with a compound annual growth rate (CAGR) of 4.4%. The historical period's growth can be credited to factors like the expansion of the automotive industry, the growth of the aerospace sector, the surge in construction demand, advancements in metallurgy, an increase in industrial machinery manufacturing, and higher usage in the energy sector.
It is predicted that the heat treating market will demonstrate robust growth in the coming years, with a valuation of $140.99 billion in 2029, representing a 5.9% compound annual growth rate (CAGR). Factors contributing to this growth during the forecast period include the global expansion of supply chains, the use of advanced materials, growing needs for high-temperature alloys, increased nuclear power industry expansion, the growing use of metal injection molding, accelerated electric vehicle manufacturing, and advancements in computational modeling. Key trends projected for the forecast range are the adoption of sophisticated heating methods, the integration of automation with industry 4.0, advancements in quenching and cooling technologies, research and development in innovative heat treating procedures, and a revival in industrial infrastructure investments.
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How are the latest trends influencing the growth of the heat treating market?
The heat-treating market is witnessing a trend of strategic alliances and joint efforts. Major participants in the heat-treating sector are concentrating on such partnerships to strengthen their stance. For instance, AddUp, a US-based industrial metal 3D printing solutions provider, joined forces with ECM Group, a thermal solutions provider based in France, in July 2022. The aim of this alliance is to create thermal treatment solutions for products produced through additive manufacturing. Furthermore, in August 2022, Thermtech, a US-based producer and distributor of thermal oxidizers and waste heat systems collaborated with Gasbarre Thermal Processing Systems to add three more furnaces, increasing their capacity for various processes like neutral hardening, stress relief, normalizing, and annealing. Gasbarre Thermal Processing Systems is a US-based firm specializing in the design, production, and servicing of a comprehensive range of heat treatment machinery for virtually any process.
What are the major segments of the heat treating market and their role in driving growth?
The heat treating market covered in this report is segmented -
1) By Material: Steel, Cast Iron, Other Material Types
2) By Equipment: Electrically Heated Furnace, Fuel-Fired Furnace, Other Equipment
3) By Process: Carburizing, Nitriding, Hardening, Tempering, Normalizing, Annealing, Other Processes
4) By End-Users: Automotive, Aerospace, Machinery, Construction, Metals, Other End-Users
Subsegments:
1) By Steel: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
2) By Cast Iron: Gray Cast Iron, Ductile Cast Iron, White Cast Iron, Malleable Cast Iron
3) By Other Material Types: Aluminum, Titanium, Copper Alloys, Nickel Alloys
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Which regions are key players in the growth of the heat treating market?
Asia-Pacific was the largest region in the heat-treating market share in 2024. The regions covered in the heat treating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the heat treating market?
Major companies operating in the heat treating market are Bluewater Thermal Solutions, American Metal Treating Inc., East-Lind Heat Treat Inc., Pacific Metallurgical Inc., Nabertherm GmbH, Unitherm Engineers Limited, Peters' Heat Treating Inc., Shanghai University Heat-treatment Co. Ltd., Thermax Limited, Uddeholm Canada, Ajax TOCCO International Ltd., Solar Atmospheres, Metcor Inc., Specialty Steel Treating, NITREX.COM, Industrial Steel Treating Company Inc., Foresight Finishing LLC, Queen City Steel Treating Co., S.M. Engineering & Heat Treating Inc., General Metal Heat Treating Inc., Scarrott Metallurgical Company, Circle City Heat Treating Inc., Metlab Corporation, Thermotech Refractory Contractors, Superior Heat Treat LLC, Bodycote PLC, Metal Heat Co. Ltd., ONEX Corp., Paulo Thermal Processing, Advanced Heat Treat Corp.
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What Is Covered In The Heat Treating Global Market Report?
• Market Size Forecast: Examine the heat treating market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the heat treating market for a structured understanding.
• Key Players Overview: Analyze major players in the heat treating market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the heat treating market.
• Segment Contributions: Evaluate how different segments drive overall growth in the heat treating market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the heat treating market.
• Industry Challenges: Identify potential risks and obstacles affecting the heat treating market.
• Competitive Landscape: Review strategic developments in the heat treating market, including expansions, agreements, and new product launches.
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