MATERIALS, ENGINEERING & THE INDUSTRY
World over, the Heat Treat Industry is a huge market. The growth of the Heat Treat Market in Asia has been phenomenal in the recent years.
Heat treating is a group of industrial and metalworking methods used to vary the physical, and sometimes chemical, properties of a material. The most common application is metallurgical.
Being dynamic in nature, the industry players for the Heat Treat sector are engaged in extensive research and development of newer, innovative and green technologies.
Globally, a large number of industries use heat treatment in their everyday processes – sectors namely automotive, defence, aerospace, mining, metalworking, heavy construction machinery and tool & die, etc. Heat Treatment is used in the production of various other materials, such as metals, glass, ceramics, etc.
INDUSTRY IN INDIA
- The Heat Treating market in India, was valued at USD 3.80 billion in 2016 and is expected to expand at a CAGR of 7.5% from 2017 to 2027 Some of this market growth can be attributed to rapidly-expanding industries such as automotive and aerospace.
- In terms of revenue, the automotive application segment accounted for 50% of the India market in 2016, followed by aerospace.
- Favorable Government policies such as MAKE IN INDIA, STARTUP INDIA, FOREIGN DIRECT INVESTMENT (FDI), and GOODS AND SERVICES TAX (GST) have attracted significant investments from foreign players. Thus, increasing presence of major automotive manufacturers in the country contributing towards the growth of the industry.
- Parallel with this growth, technology of Heat Treatment is continuously upgrading itself with the development of tailored microstructures with exceptional properties.
- An increase in the number of furnace manufacturers, double and multi chamber vacuum furnaces, vacuum heat treatment technology users, induction heating and plasma heating and digitization of the heat treat operations etc.
- The case hardening segment is expected to witness the highest CAGR of 8.2% over the forecast period, on account of increase in adoption of carburizing over traditional hardening process.
- Growing influence of 3D Printing – Additive Manufacturing.
- Players in the heat treating market in India also focusing on the implementation of green technologies and processes to reduce environmental footprint. This penetration of energy-efficient and green technologies is projected to open new avenues in the market.
- Augmented use of advanced technologies, to help Indian industry players in meeting international standards and strengthening their presence in the global market.
ROLE OF MSME
MSME plays a significant role in the economic growth of the country owing to their contribution to production, exports and employment.
The Indian Government has recently launched the “MSME Support and Outreach programme” to integrate the MSMEs into the global value chain. Under this programme, one out of the 12 key announcements made, is the mandatory procurement from MSMEs by Central Public Sector Enterprises raised from 20% to 25%.
HTS event will serve as an excellent opportunity for the MSMEs to showcase their manufacturing capabilities and services to their counterparts from India and overseas.
It will also serve as a unique platform for the manufacturers to source raw materials, components, sub-assemblies and finished products from the MSMEs.