Heat Treating Market Size, Share & Trends Analysis Report By Material  (Steel, Cast Iron, Others), By Process (Hardening and Tempering, Case Hardening, Annealing, Normalizing, Others), By Equipment (Fuel-fired Furnace, Electrically Heated Furnace, Others), By Applications (Automotive, Aerospace, Metalworking, Machine, Construction, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global heat treating market size was valued at USD 97.83 billion in 2021. It is projected to reach USD 142.04 billion by 2030, growing at a CAGR of 4.23% during the forecast period (2022–2030).

Heat treatment processes are applied to metal and ceramic materials to improve their inherent qualities and economic life. Rapid urbanization, ongoing infrastructure projects, and a sizable population base are all contributing to the growth of the global construction market. Due to the construction industry's rapid expansion, there will be an increase in the demand for machinery and equipment.

Heat-treated products are designed and customized to provide high-quality, high-tolerance materials. A material's physical and chemical properties are changed using the heat-treating technique. The heat-treating procedure includes annealing, hardening, tempering, quenching, carburizing, and carbonitriding. Due to rising demand from the automotive, aerospace, building, energy, and metalworking industries, the global market for heat-treating is expanding quickly on a global scale.

Market Dynamics

Global Heat Treating Market Drivers

Rapid Expansion of the Aerospace Industry

The aerospace industry's rapid expansion is driving the global heat treating market. This is mainly due to the increasing popularity of air travel. Additionally, improved regional connectivity and modern infrastructure will benefit the aerospace sector. Various airlines have reserved new and used aircraft to meet the growing air travel demand.

Growing Sales of Vehicles Worldwide

In order to enhance the efficient use of various components in the automotive industry, there is an increasing demand for heat treatment due to rising global vehicle sales. The heat-treating process is also used to enhance the thermomechanical behavior of alloys based on nickel-titanium (Ni-Ti). It helps improve the machinability and surface properties and increases metals' strength, hardness, and wear resistance. These alloys are widely used in the biomedical industry to make coils and treat cerebral aneurysms, which are localized dilations of the intracranial arteries. The top market players are also introducing a dependable, affordable, innovative system for automating the heat-treating process. It will have a drive circuit, a sensor, a control unit, and an algorithm that work together to speed up processing and reduce human error.

Global Heat Treating Market Restraint

High Installation Costs and High Energy Consumption

A significant amount of energy is required for the heat treatment used in the metal industry, which restricts the market growth. Using machines with a low energy-efficiency ratio can be detrimental to the environment and reduce the overall effectiveness of a business's operations. Small and medium-sized businesses have obsoleted using outmoded technology and various procedures. In addition, the high installation costs associated with heat treating present a risk to the expansion of the market.

Regional Analysis

The global heat treating market is segmented into five regions, namely North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.

Asia-Pacific is the largest shareholder in the global heat treating market. The demand is anticipated to increase in the area due to the region's resilience and growing end-use industries like aerospace and construction. Central and South American regions are expected to grow significantly during the forecast period. It is anticipated that growth opportunities, particularly in the mining and automobile industries, and the entry of established heat-treating companies in the region will foster industry growth during the forecast period.

Segmental Analysis

The global heat-treating market is segmented by Material, process, equipment, application, and region.

Based on material, the market is divided into steel, cast iron, and others.

Steel is the market leader and source of the most significant portion of global revenue. Rising demand for heat-treated steel parts in the construction sector, particularly in the U.S., China, and India, is anticipated to drive the demand. Steel is heated to achieve a variety of mechanical qualities, such as strength, wear resistance, and surface hardness. The benefits of heat-treating steel are likely to increase the global heat treating market demand.

Based on the process, the market is bifurcated into hardening and tempering, case hardening, annealing, normalizing, and others.

The case hardening segment owns the highest market share and is anticipated to grow during the forecast period. For constant velocity joints in electric vehicles, case hardening is still in demand in the automotive sector. Additionally, the segment growth is anticipated to benefit from growing rail infrastructure development. The demand for different annealing processes, including soft annealing, coarse-graining annealing, and stress relieving, has increased in the construction, semiconductor, and automotive industries, among other key factors driving the market.

Based on equipment, the market is categorized into fuel-fired furnaces, electrically heated furnaces, and others.

Electrically heated furnaces lead the global heat treating market and are the source of the most considerable portion of worldwide sales. Demand for electrically heated furnaces is anticipated to increase due to their high operational efficiency and greater environmental sustainability than traditional fuel-fired systems. Simple installation and automated temperature control increase the operational efficiency of electrically heated furnaces.

Based on application, the market is divided into automotive, aerospace, metalworking, machine, construction, and others.

The automotive segment is dominant due to the expanding EV market and rising demand for greener technologies that provide energy-efficient heat treatment. Furthermore, industry growth is anticipated to be fueled by the new and sophisticated equipment needed for electric vehicles. This process is required to improve various metal workpieces' metallurgical structure and residual stress state. These include normalizing, annealing, hardening and tempering, quenching, stress-relieving, and cold treating.

Impact of covid-19

COVID-19 has positive and negative market consequences, as carbon emissions have decreased globally due to the lockout. COVID-19's reduction in emissions is a short-term benefit. Still, when industries and enterprises attempt to recoup some of their financial losses in the first quarter of the year, carbon emissions will rise dramatically. COVID-19 had a negative impact on global recycling efforts. Countries, notably the United States, have halted or decreased recycling programs to focus on collecting additional domestic waste or because services have been disrupted by the virus.

Also, with industries slowly returning to normalcy following the COVID-19 outbreak, this shift in workplace health and safety is expected to increase due to mandatory social distancing and continuous personal care through sanitization to eliminate even the tiniest possibility of COVID-19 spread. COVID-19 has impacted various companies' revenues, and if the lockdown is lifted, companies will turn their attention to operations to make up for their losses.

Recent Developments

• June 2022- Seco/Warwick Furnace Produced Specialized Dies for Motorcycle Parts. SECO/WARWICK has supplied a Vector® vacuum furnace to Atlas Autos Ltd (An Atlas Group Company), Pakistan's largest manufacturer of motorcycle parts. Its design supports gas cooling elements and dies for parts used in the production of automobiles—the solution for hardening and tempering processes.
• June 2022- Seco/Warwick Delivered a Controlled Atmosphere Brazing (Cab) Line for Jiangsu Ridea, A Manufacturer of Truck Heat Exchangers. The solution for this manufacturer of heat exchangers for agricultural machinery, construction vehicles, ships, and power generators, has intended for brazing heat exchangers and will significantly increase the manufacturer's efficiency in producing large-size heat exchangers for trucks.