Heat Treating Market Is Estimated To Grow At A CAGR Of 3.5% From 2017 To 2025: Grand View Research, Inc.

Posted on 2018-10-25 by researchinsights in Aerospace, Automotive, Construction, Technology // 0 Comments

San Francisco, United States, 2018-Oct-25 — /EPR Network/ —The global heat treating market size is expected to reach USD 122.34 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 3.5% CAGR during the forecast period. Increasing penetration of metal treatment services in automotive, aerospace, construction, energy, and metalworking applications is expected to act as a key market driver over the forecast period.

Steel is a key material used in the metal heat treatment industry. Increasing use of steel in construction and machining applications is projected to positively impact segment growth over the forecast years. Other metals commonly used include aluminum, iron, copper, and nickel. Aluminum is expected to witness significant growth on account of increasing penetration of the metal in aerospace and automotive industries.

The most commonly used processes for heat treatment include hardening and tempering, case hardening, and annealing. Case hardening is expected to witness significant growth over the forecast period due to growing popularity of carburizing, nitrding, and carbonitriding for surface hardening in metalworking and machining applications.

Automotive emerged as the dominant application segment in terms of market share in 2016. However, aerospace is expected to witness highest growth during the next eight years on account of a rapidly-growing aerospace industry in emerging economies worldwide. Companies in the domain including Bluewater Thermal Solutions; Bodycote Heat Treatments Ltd.; Summitglow Ltd.; Ajax Tocco International; and Metcor Inc. are involved in furnace manufacturing, treatment services, and surface treatment facilities.

To request a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/heat-treating-market

Further key findings from the study suggest:

The heat treating market was valued at USD 90.73 billion in 2016 and is expected to exhibit a CAGR of 3.5% from 2017 to 2025. The market is primarily driven by increasing demand for metal treatment services from key end-use verticals
The cast iron material segment was valued at USD 9.43 billion in 2016 and is projected to witness comparatively slower growth over the forecast period. This can be attributed to increasing use of other metals such as aluminum, copper, titanium, and nickel in various end-use industries
In 2016, the case hardening process segment was valued at USD 23.99 billion, expanding at the highest CAGR of 3.7% over the forecast period. This growth can be attributed to increasing use of carburizing for surface hardening as opposed to conventional hardening
Asia Pacific dominated the global market in terms of revenue; the market was valued at USD 34.21 billion in 2016 and is projected to expand at a CAGR of 3.9%. Rapid growth in key end-use industries across emerging economies of India, China, Indonesia, and Vietnam, among others is expected to benefit regional market growth over the forecast years
Key industry participants are engaged in technical collaborations, mergers with furnace manufacturers, and strategies to expand geographical reach in order to increase profit margins and application portfolios.

Related Report of HVAC & Construction:

Grand View Research has segmented the global heat treating market on the basis of material, process, equipment, application, and region:

Heat Treating Material Outlook (Revenue, USD Million, 2014 – 2025)

Steel
Cast iron
Others

Heat Treating Process Outlook (Revenue, USD Million, 2014 – 2025)

Hardening & tempering
Case hardening
Annealing
Normalizing
Others

Heat Treating Equipment Outlook (Revenue, USD Million, 2014 – 2025)

Fuel-fired furnace
Electrically heated furnace
Others

Heat Treating Application Outlook (Revenue, USD Million, 2014 – 2025)

Automotive
Aerospace
Metalworking
Machine
Construction
Others

Heat Treating Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
- U.S
Europe
- Germany
- U.K.
Asia Pacific
- China
- India
- Japan
Central & South America
- Brazil
Middle East & Africa
- South Africa

Access Press Release Of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-heat-treating-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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