Metal heat treatment: Key market research findings
- Demand for steel and copper drives market growth
- Aerospace segment is the dominant shareholder in the market
- Key vendors—Bluewater Thermal, General Metal, Keith, and Thermex
Technavio’s market research analysts predict the global metal heat treatment market to grow at a CAGR of over 6% between 2016 and 2020. The market is primarily driven by the increased demand for steel and copper globally. Steel and copper find extensive use in industrial and other applications. Rapid urbanization and rising investments in the construction sector is expected to spur an increased requirement for steel and copper in the coming years. At present, the APAC region dominates the market by accounting for around 43% of the overall market share. The increasing use of metal heat treatment processes in the automotive, manufacturing, and industrial sectors, especially from Japan, China, Australia, India, South Korea, Taiwan, and Singapore is expected to propel growth in the metal heat treatment market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the metal heat treatment segments based on end-user.
“The incorporation of metal heat treatment process in the production lines is an ongoing trend in the market. Numerous organizations are streamlining their processes to increase their operational efficiency due to increased competition. The development of cost-effective, quality products that are competitive in the international market has compelled automotive companies to adopt carburizing units with high-pressure gas quenching in their production lines,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
During 2015, the aerospace sector occupied more than 32% of the market share to dominate the global metal heat treatment market. The aircraft manufacturing companies use the latest metal heat treatment technology and furnaces in their plants to minimize the risk of accidents. The use of heat treatment process ensures enhanced mechanical properties to steel and other alloys that are used in the manufacture of parts and components, thereby improving the reliability and durability of the product. The increase in air traffic in APAC countries such as India and China is expected to fuel the growth further in the global metal heat treatment market in the aerospace sector.
The key vendors in the global metal heat treatment market include Bluewater Thermal, General Metal, Keith, and Thermex. As a result of the presence of a number of international heat treatment companies who offer a wide range of energy-efficient metal heat treating solutions to several end-user applications and the presence of a number of local vendors who mostly cater to the demand of particular end-user applications, the level of vendor competition in the market will be moderate and fair.
A more detailed analysis is available in the Technavio report, Global Metal Heat Treatment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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