Zion Market Research, the market research group announced the analysis report titled ‘Composite Testing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024‘
Global Composite Testing Market: Overview
A material made up of two or more constituent materials possessing varied physical or chemical properties and is different from individual components is known as a composite material. These composites are highly used in aerospace and defense, transportation, and wind energy applications. Hence, comprehensive testing is carried out on these materials with specific standards known as composite testing. Composite testing is widely used in aerospace & defense sector to evaluate the performance and structural applications. Major commercial aircraft manufacturers such as Airbus and Boeing have developed aircraft such as Airbus A350 and Boeing 787 that constitute almost 50% of the composites in their airframe structures. Aviation giants such as National Aeronautics and Space Administration (NASA) and SpaceX widely use composite testing due to resistance fatigue & corrosion and high stiffness-to-weight ratio.
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Global Composite Testing Market: Growth Factors
Increasing penetration of composite testing in various application and implementation of stringent regulations to improve the quality of composites are factors expected to fuel the global market growth. High-performance, lightweight, and fuel-efficient materials are in higher demand from airline companies, which contribute to the largest market share. Further, escalating demand for composites in advanced aircraft along with as low-cost carriers in order to meet the demand of increasing new-generation aircraft deliveries may boost the global market in the coming future. Conversely, lack of standardization in manufacturing technologies and other issues related to recyclability may hamper the global composite testing the market.
Global Composite Testing Market: Segmentation
The global composite testing market is categorized based on the application as sporting goods, aerospace & defense, electrical & electronics, wind energy, building & construction, transportation, and others. Of these, aerospace & defense segment is dominating globally. Based on product type, the global market is divided as polymer matrix composites, continuous fiber composites, ceramic matrix composites, discontinuous fiber composites, and others. Of these, continuous fiber composites segment accounted for the largest market share. They are extensively preferred owing to their superior performance and hence are used in high-end applications such as transportation, aerospace, and defense. In addition, the demand is much higher for next generation aircraft & fighter planes and advanced lightweight automotive, further positively enhancing the global market growth. Moreover, the global composite testing market is fragmented based on the testing method as non-destructive and destructive.
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Global Composite Testing Market: Regional Analysis
Europe holds the largest market chunk in the global composite testing market as high demand for composite testing in the transportation industry and commercial aircraft is witnessed. Europe is the largest hub for major composite testing service and providers. Strict regulation by the Committee for Standardization (CEN) in Europe to ensure the quality of composites is a major driving factor of the global composite testing the market. Composite testing service providers are focusing on market expansion and enhanced composites production in order to fulfill increasing demand for non-destructive testing from commercial airline companies. Moreover, penetration of composite testing is rising in the wind energy application that may drive the global market growth in future.
Global Composite Testing Market: Competitive Players
Major players operating in the global composite testing market are Element Materials Technology, Henkel AG & CO. KGaA, Exova Group plc, and Westmoreland Mechanical Testing & Research Inc. Other players influencing the global market include Instron, Matrix Composite Inc., ETIM Composites Testing Laboratory, Mistras Group Inc., and Intertek Group plc.
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Global Composite Testing Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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