Composites Testing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Composite testing is most commonly defined as the testing or analysis of composite materials. Composite and non-metallic materials, such as concrete, fiber-reinforced polymers, thermoplastic composites, shape memory polymer composites, high strain composites, metal matrix composites, ceramic matrix composites, sandwich-structured composite, and wood plastic composite, are becoming increasingly prevalent in various manufacturing applications. Since these materials are highly complex in structure, the need for their accurate and comprehensive testing is growing continuously leading to the demand for expert composites testing services across the world. These services are vital in developing advanced composite technology, helping companies operating in the highly dynamic manufacturing industry to gain a competitive edge over their rivals.
A wide array of challenges in regards to quality, safety, regulatory, process control, and performance in the operations are encountered by base chemical providers, fiber manufacturers, additive suppliers, and end users across the product life cycle and the overall supply chain of composite materials. This testing technique plays a crucial role in overcoming these challenges and providing the business a substantial commercial boost. Original equipment manufacturers (OEMs) as well as material manufacturers, especially, need the analysis and testing of composite materials to meet the stringent quality standards to use these materials in the aerospace, medical, and healthcare, automotive, and various other industries.
The penetration of composites continues to grow in aerospace and defense, wind energy, and transportation applications. The need for precise, comprehensive testing of these materials along with stringent testing standards for these materials is primarily driving the global composites testing market.
The global composites testing market can be segmented on the basis of product type, testing method, application, and region. In terms of testing method, the market can be further divided into destructive and non-destructive testing methods. Of the two, the destructive composites testing segment is expected to display a faster growth rate due to the high demand for composites in sporting goods and wind energy applications. However, the non-destructive segment currently holds the larger share due to their demand from high-end applications such as defense, aerospace, and transportation.
In terms of product type, the global composites testing market can be segmented into continuous fiber composites, polymer matrix composites, discontinuous fiber composites, ceramic matrix composites, and others. Amongst these, continuous fiber composites led the market due to their high demand from automotive manufacturers and commercial airline companies worldwide.
The publication on the global composites testing market is a conclusive guideline for existing as well as new entrants for strategic moves in this marketplace.
The high penetration of composite materials in myriad applications such as transportation, building and construction, electrical and electronics, aerospace and defense, wind energy, sporting goods, and others is driving the composites testing market. Different types of composites that are used for these applications need to adhere to stringent standards for composites testing along with manufacturers’ proprietary testing standards in the supply chain of composites manufacturing.
Amongst the several applications of composites, aerospace and defense led the composites testing market due to the stringent regulations for composite testing for advanced defense and commercial aircraft. In particular, advanced commercial aircraft employ a significant percentage of composite materials in their airframe structures. Thus, composites utilized in airframe structures need to pass different testing stages for safety and performance considerations.
Furthermore, large investments for the development of state-of-the-art composites testing facilities in Asia Pacific is fuelling the growth of this market.
The global market for composites testing is in a growth mode. However, the growth of this market is challenged due to certain factors. Issues pertaining to the recyclability of composites and lack of trained personnel for composites testing are restraining this market’s growth.
The global market for composites testing can be divided into the regional segments of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Europe stands as a significant market for composites testing in the global market. The presence of established players, replacement of old aircraft, low interest rates for purchase of advanced aircraft, clearance of outstanding purchase orders from Airbus, and very high demand for commercial aircraft are some of the prominent factors for the dominant position of the region in the global market. In addition, government mandates such as the ones laid out by the European Union Automotive Fuel Economy emphasize the use of lightweight materials in transportation for increasing fuel efficiency, which is further driving the growth of tthis regional market.
Some of the companies vying for a larger share in the global composites testing market are Exova Group, Mistras Group Inc., Westmoreland Mechanical Testing & Research Inc., Instron, Henkel AG & Co. KGaA, Intertek Group, Element Materials Technology, Matrix Composites, ETIM Composites Testing Laboratory.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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