Heat Treating Market 2022 | Worth US$ 121.4 Billion by 2027 | CAGR of 4.1% by 2027
Heat Treating Market
SHERIDAN, WYOMING, UNITED STATES, May 9, 2022 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Heat Treating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global heat treating market size. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global heat treating market reached a value of US$ 96.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 121.4 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027. Heat treating represents the process of heating and cooling ferrous and non-ferrous metals at various staged levels, which helps in obtaining the desired set of physical and mechanical properties. Presently, several methods to improve the cost-efficiency and outcomes of heat treating have been developed and are utilized depending on the metal type. For instance, superalloys used in the aircraft industry undergo numerous heat treating processes to optimize metal properties, such as magnetism, toughness, ductility, brittleness, electrical and corrosion resistance, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The escalating volumes of air traffic, on account of the growing business travel, international trade, tourism activities, etc., are primarily driving the heat treating market. Moreover, the increasing sales of vehicles are propelling the product demand to effectively employ different components in the automotive industry while satisfying customer needs and environmental norms. Besides this, heat treating also aids in improving the machinability, surface properties, strength, hardness, wear resistance, etc., of metals. Consequently, it is being utilized for increasing the thermomechanical behavior of Nickel-Titanium (Ni-Ti) based alloys used in the biomedical sector to treat cerebral aneurysms and produce coils. This is further augmenting the global market. Apart from this, the introduction of reliable and low-cost smart systems for automating these processes to reduce human intervention, time, error, etc., is expected to fuel the heat treating market over the forecasted period.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Ajax TOCCO International Ltd
• American Metal Treating Inc
• Bluewater Thermal Solutions
• Bodycote plz
• East-Lind Heat Treat Inc.
• General Metal Heat Treating
• Nabertherm GmbH
• Pacific Metallurgical Inc
• Seco/Warwick Inc.
• Thermax Limited
• Unitherm Engineers Limited
Breakup by Material:
• Steel
• Cast Iron
• Others
Breakup by Process:
• Hardening and Tempering
• Case Hardening
• Annealing
• Normalizing
• Others
Breakup by Equipment:
• Fuel-Fired Furnace
• Electrically Heated Furnace
• Others
Breakup by Application:
• Automotive
• Aerospace
• Metalworking
• Construction
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
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