The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The heat treating market has demonstrated steady growth, with the market size projected to reach $109.06 billion in 2024, representing a compound annual growth rate (CAGR) of 4.9%. This growth is attributed to factors such as the expansion of the automotive and aerospace sectors, increased demand in construction, advancements in metallurgy, and the rise in manufacturing of industrial machinery.

Construction Industry Driving Market Growth
The construction industry’s growth is anticipated to fuel the heat-treating market. Heat treating is used in construction to enhance the strength and durability of critical components such as reinforcement bars. The Canadian construction industry, for example, is expected to grow at an 8.5% compound annual growth rate (CAGR) by 2024. Globally, the construction output is anticipated to increase by 42% between 2020 and 2030. This growing demand for construction is driving the growth of the heat-treating market.

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Strategic Partnerships and Collaborations Fueling Innovation
Strategic partnerships and collaborations are key trends in the heat-treating market, with companies focusing on partnerships to reinforce their position. For instance, AddUp partnered with ECM Group to develop thermal treatment solutions for items made with additive manufacturing. Similarly, Thermtech partnered with Gasbarre Thermal Processing Systems to expand its capacity for neutral hardening and other processes.

Alloy Engineering Expands High-Temperature Product Line
Alloy Engineering’s acquisition of Thermcraft Inc. underscores the trend of expansion in the heat-treating market. Thermcraft Inc. is a manufacturer of thermal processing equipment, and the acquisition fits into Alloy Engineering’s plan to increase its high-temperature product line.

Market Segmentation and Outlook
The heat treating market is segmented by material (steel, cast iron, other material types), equipment (electrically heated furnace, fuel-fired furnace, other equipment), process (carburizing, nitriding, hardening, tempering, normalizing, annealing, other processes), and end-users (automotive, aerospace, machinery, construction, metals, other end-users). Asia-Pacific led the heat-treating market share in 2023, reflecting the region’s growing industrialization and manufacturing activities.

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The Heat Treating Global Market Report 2024  provides an overview of the heat treating market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The heat treating market forecast analyzes heat treating market size, heat treating market share, leading competitor and their market positions.

The Table Of Content For The Heat Treating Market Include:
1. Heat Treating Market Executive Summary
2. Heat Treating Market Segments
3. Heat Treating Market Size And Heat Treating Market Growth Rate
4. Key Heat Treating Market Trends
5. Major Heat Treating Market Drivers
……
25. Key Mergers And Acquisitions In The Heat Treating Market
26. Top Heat Treating Companies
27. Heat Treating Market Opportunities And Strategies
28. Heat Treating Market, Conclusions And Recommendations
29. Appendix

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