Global Heat Treating Market Research Report - Industry Analysis and Forecast to 2025

Global Heat Treating Market is Projected to Grow Owing to Wide Range of Applications in Various Industry Verticals

24 October 2018, The global Heat Treating Market is an amalgamation of operations involving heating, holding, and cooling of metal in the solid state for the purpose of obtaining a particular desirable surface modification or metallurgical properties. The market is projected to grow over the forecast period owing to wide range of applications in various industry verticals. Heat treatment is used to achieve surface hardening, increase ductility and softness, obtain fine grain size, improve cutting properties of tool steels, and improve electrical and magnetic properties. Rising need to develop superior-quality products is one of the major factors driving the market growth.

 

The use of such processes help organizations improve the structural accuracy of metal products by increasing its tensile and yield strength. Several companies across industry verticals, such as automotive, aerospace, and general machinery, often consider heat treatment processes to develop high precision products. Most of the organizations are managing their manufacturing processes to improve the operational efficiency. Moreover, to make quality and cost-effective products that are competitive in the global markets, companies are now automating their industry operations.

 

As a part of an operational strategy, manufacturing industries are integrating these processes with their production lines to enhance the overall efficiency. However, the installation cost varies owing to specific requirements of different metals. Different furnace and temperature are required for treating a metal to improve its quality. Moreover, high initial investments may have a negative impact on the industry growth over the forecast period. On the other hand, increasing automation is expected to offer new growth opportunities for the global market over the years to come.

 

Improving the level of furnace maintainability and controllability by applying Internet of Things (IoT) concept and systems integration is an opportunity yet to be explored. Changing trends to use vacuum furnace instead of a blast furnace is on the rise owing to its benefits over the traditional furnace, such as eco-friendly nature and reduced carbon dioxide emissions. Services, equipment, and applications can be the major segments of the heat treating market. Services segment can include carburizing & carbonitriding, hardening, tempering, annealing, stress relieving, and quenching.

 

Carburizing and annealing, selective hardening, batch type furnaces, vacuum furnace, deep freeze, high-speed tool steels, and salt bath furnaces are the major heat treating equipment types. The process finds applications in various industry verticals including automotive, aerospace, mining and exploration, metallurgical and machining industries, oil and gas, and military. The primary driver for the development of new equipment is rising need for shortening production cycles, reducing carbon footprint, and making the operation profitable through proficient use of utilities. Low-temperature surface modification process will attract higher market shares in the future.

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