Global Heat Treatment Market Size
August 21, 2024 “The Monty Heat Treat News” published a graph about the size of the global heat treatment market broken down by captive vs; commerical heat treating and also by geographic region https://themonty.com/global-heat-treatment-market-size/-the graph was originally posted by Mr. Januz Kowalewski, an individual we have a very high opinion of.
As expected the posting generated a lot of interest and a number of comments, most of which were broadly in agreement although a few suggested the original figures were quite high. Most comments though agreed that the figure quoted for the commercial heat treating share of the market (15%) was probably reasonably accurate.
One individual who commented provided a very detailed breakdown of the total market, a breakdown which suggests the original numbers are high;
“Related to today’s The Monty news on the global Heat Treatment market size as you rightly stated it’s highly debatable based on the technical processes inclusion. My belief, based on extensive market research is that in 2023 the global heat-treating market size is approximately US$107 billion , and is projected to grow at a Compound Annual Growth Rate (CAGR) of 3.5% from 2024 to 2030. The projected 2030 global demand size is $136 billion.
Today regionally the split is as follows:
- Asia Pacific Market accounts for 44% or US$47bil
- USA at 22% or US$ 24bil
- Rest of the World (ROW) at 34% or US$36bil
The external (commercial heat treating) outsourcing global content is 18%.”
Again we at “The Monty” want to stress that it is very difficult to come up with accurate numbers when there is no standard agreement on what actually constitutes heat treating but all of these comments make for interesting reading.