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    Composites Testing Market Analysis | 2017-2022

    Composites Testing Market Analysis | 2017-2022
    Report code - SRAM133 Published On : Apr,2017 No. of Pages: 247
    Composites Testing Market Size, Share, Trend, Forecast, Competitive Analysis & Growth See more...

    Market Insights

    The Global Composites Testing Market was valued at US$ 1.18 billion in 2016, registering a healthy CAGR of 7.2% during the forecast period, and is projected to reach US$ 1.8 billion by 2022.

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    Market Drivers

    Increasing production of composites-rich commercial and regional aircraft, development of new composite applications in different industries, advancement in materials, increasing investment in research & development, increasing demand for lightweight materials, and rising quality and safety standards are major growth drivers of the testing market in the composites industry.

    Segments Analysis

    By Testing Type

    The market is segmented on the testing type as Destructive and Non-Destructive. Destructive testing type is further segmented into impact testing, fatigue testing, compression testing, flexural testing, tensile testing, and others. Similarly, non-destructive testing is further segmented into visual testing, ultrasonic testing, thermography, radiography, shearography, tap testing, and others. Non-destructive is expected to remain the most dominant testing type over the next five years, driven by a higher preference for a wide array of applications in the aerospace & defense, transportation, and wind energy industries.  

    By Product Type

    The global composites testing market is segmented into Polymer Matrix Composites (PMCs), Ceramic Matrix Composites (CMCs), and Metal Matrix Composites (MMCs). PMCs consist of both thermoset and thermoplastic composites and currently occupy the largest share of the global composites testing market. The segment is expected to remain the largest over the next five years as well.

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    By End-Use Industry Type

    The market is segmented into aerospace & defense, transportation, building & construction, wind energy, marine, and Others. Aerospace & Defense dominates the market and is expected to remain the largest segment over the next five years. Increasing production rates of key commercial and regional aircraft, such as B737, B787, A350XWB, A320, and Bombardier C Series, development of new aircraft or variants of existing programs, such as B737max, A320neo, B777x, and A330 neo, the introduction of more stringent regulations, and increasing penetration of composites are the major drivers of the market.

    Transportation is projected to witness the highest growth during the same period, driven by increasing penetration of advanced composites in the structural parts of the automobile, especially in electric and premium vehicles, to address the stringent government regulations, such as CAFÉ Standards.

    Regional Analysis

    North America holds the largest market share in the composites testing market, mainly driven by the USA. The country is the manufacturing capital of the aerospace & defense industry with the presence of several large and small-sized OEMs, tier players, and testing service providers. There is also a healthy demand for testing from other industries, such as wind energy, transportation, building & construction, and marine in the country.

    Asia-Pacific is projected to witness the highest growth during the same period, driven by China and India. Development of indigenous commercial, regional, and military aircraft, such as COMAC C919, ARJ21, and Mitsubishi MRJ, commencement of assembly plants of major commercial aircraft, such as A320 in China, the highest wind turbine installation, and increasing penetration of composites in the transportation industry are some of the major growth drivers of the region. 

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    Key Players

    Some of the key players in the global composites testing market are-

    Advancement in equipment, regional expansion, and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge over other competitors.

    Research Methodology

    For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Composites Testing Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Who are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players).
    • SWOT analysis of key players (up to three players).

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions

    The composite testing market is expected to witness an impressive CAGR to reach an estimated value of US$ 1.8 billion by 2022.

    Intertek Group plc, Exova Group plc, Element Materials Technology, ETIM Composites Testing Laboratory, SGS Sercovam, Henkel AG & CO. KGaA, Mistras Group Inc., and Westmoreland Mechanical Testing & Research Inc are among the key players in the composite testing market.

    North America is estimated to be dominant in the composites testing market, mainly driven by the USA.

    Asia-Pacific is expected to witness the highest growth in the composite testing market during the forecast period.

    Aerospace & Defense is expected to be the largest segment in the composite testing market in the coming five years.