The Heat Treating Market accounted for USD 88,543 Million in2020 and is expected to reach more than USD 125,917 Million by2028, growing at a CAGR of 4.5% from 2021 to 2028.
Heat treatment is a method that is utilized for alteringfeatures of alloys & metals through cooling & heatingprocesses. The heat treating method is utilized for achievingrequired product fit for a particular application. Apart from this,heat treatment also raises the ductile strength & durability ofconstruction metals such as steel. Furthermore, there are myriadkinds of heat treating processes which vary based on the heating temperature & rate of cooling based on the need. Heat treatmentalso helps in annealing of the steel.
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COVID-19 Impact Analysis
The COVID-19 has globally impacted as public health emergencythat affected almost every industry all over the world; COVID-19has had an adverse impact on the construction sector and othersectors driving the growth of treating market. The construction ofbuildings is impacted since lockdowns were imposed. With time themarket is again gaining its potential growth, significant adoptionof treated steel in automotive, aerospace, manufacturing,metallurgy, and others, Cast iron as a preferred choice ofmaterials in the industrial manufacturing and High adoption ofluxury vehicles in Germany and resulting demand for treated premiumsteel.
Heat treatment is a method that is utilized for alteringfeatures of alloys & metals through cooling & heating processes.The heat treating method is utilized for achieving required productfit for a particular application. Heat treating makes material moreapplication specific based on the end use in various industries.Automotive and aerospace are two crucial application segments forheat treating services. Alloys and other high performing metals aresignificantly adopted in these industries to produces vehicles.Therefore, Growing demand for heat treating services in aerospacecan be attributed to rapidly increasing demand for commercial vehicles due to high aviation demand and rising air passengertraffic.
Report Segmentation of Heat Treating Market are :
By Type:
● Integral Heat Treatment
● Surface Heat Treatment
● Chemical Heat Treatment
By Application:
● Aerospace
● Metalworking
● Machine
● Construction
Heat treatment industry is mainly dominated by the steel metalas it acquired 80% of the market share and single handily dominatedthe industry. Therefore, heat treatment is more of steel driven.Heat treatment is a method that is utilized for altering featuresof alloys & metals through cooling & heating processes. The heattreating method is utilized for achieving required product fit fora particular application. Heat treatment of steel makes it moreapplication specific with improved properties.
The following are some of the companies highlighted in this report:
● Bohler Uddeholm
● Bluewater Thermal Solutions
● American Metal Treating Inc
● AjaxTocco International Ltd
● Solar Atmosphere Inc
● Bodycote HeatTreatments Ltd
Regional Analysis Preview
Asia-Pacific accounted for a share of over 50% in 2020.Asia-Pacific heat treatment market is studies across countries likeChina, India, Japan, Southeast Asia, Korea, and others. Marketshares in the global heat treating market and further projected tocontinue its dominance in the years to come. Asia Pacific dominatedthe metal heat treating market in terms of revenue. These servicesin the region are largely driven by rapidly growing automotive,aerospace, and construction industries across key emergingeconomies such as India, China, and Indonesia. The rising demandfor commercial and heavy-duty vehicles anticipated to boost themarket share in the countries like China, India, and Japan
Stakeholders and industry participants will gain the following benefits:
• The report looks at the industry’s drivers, limitations, and possibilities.
• Market performance from a neutral standpoint
• Trends and advancements in the industry recently
• Key players’ strategy and the competitive landscape
• Potential and niche categories, as well as regions with promising growth prospects, are covered.
• In terms of revenue, historical, current, and forecast market sizes
• An in-depth examination of the market for Heat Treating
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