Heat Treating Global Market By Material, By Application, By Process, By Equipment, By End User, By Region, And Segment Forecasts, 2024-2033 | NITREX.COM, Metlab Corporation, Bodycote PLC, ONEX Corp.

Overview and Scope
Heat treatment is the process of heating metals with the purpose of improving their properties, strengthening the metal, and creating alloys. Heat-treated parts are essential to the operation of automobiles, aircraft, spacecraft, computers, and heavy equipment of every kind.

Sizing and Forecast
The heat-treating market size has grown steadily in recent years. It will grow from $103.95 billion in 2023 to $109.06 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to growth in automotive industry, expansion of aerospace sector, increased demand in construction, advancements in metallurgy, rise in manufacturing of industrial machinery, increased utilization in energy sector..

The heat treating market size is expected to see strong growth in the next few years. It will grow to $132.87 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to globalization of supply chains, adoption of advanced materials, demand for high-temperature alloys, expansion of nuclear power industry, growing adoption of metal injection molding, rise in electric vehicle manufacturing, advancements in computational modeling. Major trends in the forecast period include adoption of advanced heating technologies, integration of automation and industry 4.0, advancements in quenching and cooling technologies, r&d in novel heat treating methods, resurgence of investment in industrial infrastructure, .

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Segmentation & Regional Insights
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

Asia-Pacific was the largest region in the heat-treating market share in 2023. The regions covered in the heat-treating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing automotive sector is expected to propel the growth of the heat-treating market going forward. Heat treatment is used in many items in the automotive industry to harden aluminum body parts and strengthen engine and drivetrain components. The increasing automobile manufacturing is expected to generate a high demand for this heat treatment. For instance, in May 2023, according to the European Automobile Manufacturers Association (ACEA), an Italy-based association, in 2022, 85.4 million motor vehicles were produced around the world, an increase of 5.7% compared to 2021. Similarly, the manufacturing of cars in India grew to 3.08 million units in 2021, compared to 2.43 million units in 2020. Hence, the growing demand from end-user industries is expected to drive the market.

Key Industry Players
Major companies operating in the heat treating market report 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.

The heat treating market report table of contents includes:
1. Executive Summary