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Global Heat Treatment Market Size is likely to surpass USD 120 billion by 2027. Robust development in the construction industry will provide impetus to the global heat treatment market over the forecast period.
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The global heat treatment market will showcase significant growth from 2021 to 2027. Heat treatment processes are applied to metal & ceramic materials to improve their inherent properties and economic life. Rapid urbanization coupled with ongoing infrastructure projects and a huge population base is likely to boost the global construction market soon. Robust growth in the construction industry will proliferate the demand for mechanical tools and equipment. Heat-treated products can be designed and customized to offer high-quality & high tolerance materials, which can meet the desired specifications. Countries including China, India, Brazil, Malaysia, and South Korea are continuously investing in infrastructure projects to strengthen their economic development. These projects will further create scopes for the construction sector and subsequently boost the heat treatment industry. For instance, the Government of India has allocated more than USD 850 million for Smart City projects under the Union Budget 2021 - 2022.
The global heat treatment market for other materials is likely to exhibit considerable growth over the forecast timeframe at a CAGR of 4.4%. Other materials including aluminum, nickel, magnesium, etc., are preferred for heat treatment processes owing to their specific applications across industries. Advanced formability and high ductility are key factors driving the segment growth.
Based on equipment, the other segment registered more than USD 20 billion in 2020 and will grow at a decent rate by 2027. In this segment, vacuum heat treatment is gaining popularity owing to its several advantages including shear strength, high flexibility, and no threat of discoloration. The system is computerized and thus can control the uniformity of the materials. These factors will drive the overall heat treatment industry size in the coming years.
The carburizing process segment will witness 4.6% CAGR during the forecast period. The carburizing process is expected to gain a significant share in the global heat treatment market by 2027. The growth of this segment is augmented by rising demand for high loadbearing alloy steels. In addition, the diffusion of carbon into the steel surface significantly increases surface hardness and corrosion resistance capacity.
The construction segment is expected to grow at a CAGR of 3.8% by 2027 owing to the wide applicability of heat-treating materials in construction appliances, equipment, hand tools, and other machinery.
Europe will exhibit sizeable growth and is likely to capture nearly 26% share at the end of 2027. Countries including Germany, France, and the UK are heavily investing in infrastructure development, which will create a scope for heat-treating products in the coming years. Moreover, Europe has a matured automotive industry, which will influence the overall industry size in the near future.
Key industry participants in the global heat treatment market are Bodycote Heat Treatments Ltd., Bluewater Thermal Solutions, Metcor Inc., Specialty Steel Treating, Euclid Heat Treating, Advanced Heat Treatment Corporation, Nitrex, Houston Heat Treat, Avdhoot Heat Treat Pvt Ltd., Team Inc., Peters Heat Treating Inc., Summitglow Ltd., Thermex Metal Treating Ltd., Advanced Heat Treat Corp., Metal Heat Co., Ltd., and Premier Thermal Solutions LLC.
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Some of the major findings in the Global Heat Treatment Market report include:
Key market participants are continuously engaging in research & innovation, facility upgrade, and Merger & Acquisition (M&A) to gain competitive advantages in the market.
Table of Contents (ToC) of the report:
Chapter 1 Methodology And Scope
1.2 Market definition
1.3 Base estimation & working
1.3.1 North America
1.3.3 Asia Pacific (APAC)
1.3.4 Latin America (LATAM)
1.3.5 Middle East & Africa (
1.4 Forecast calculation
1.4.1 COVID-19 impact calculations on industry forecast
1.5 Data sources
1.5.2.1 Paid sources
1.5.2.2 Public sources
Chapter 2 Executive Summary
2.1 Global heat treatment industry 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Process trends
2.1.4 Equipment rends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Global Heat Treatment Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 – 2027
3.2.1 Covid-19 impact on Industry size
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.1.1 Value chain disruption analysis (including COVID-19 impact)
3.3.2 Vendor Matrix
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Proliferating demand in automotive industry
3.5.1.2 Rising product application in aerospace & defense sector
3.5.1.3 Increasing product consumption in base metal sector and machining industry
3.5.1.4 Rapid development in global construction industry
3.5.2 Industry pitfalls & challenges
3.5.2.1 Higher cost associated with the initial setup
3.6 Industry megatrends
3.7 Regulatory landscape
3.7.1 U.S.
3.8 Growth potential analysis, 2020
3.9 Competitive landscape, 2020
3.9.1 Top players overview, 2020
3.9.2 Key stakeholders
3.9.3 Strategic dashboard
3.10 Cost structure analysis
3.10.1 R&D cost
3.10.2 Manufacturing & equipment cost
3.10.3 Raw material cost
3.10.4 Distribution cost
3.10.5 Operating cost
3.10.6 Miscellaneous cost
3.11 Porter’s analysis
3.12 PESTEL analysis
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