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(Transportation-News.com, April 23, 2018 ) Composites testing market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
The global composites testing market was valued at US$ 1,189.7 million in 2016 and is projected to witness an excellent CAGR of 7.2% over the next five years to reach US$ 1,819.9 million in 2022. Increasing production of composites rich commercial and regional aircraft, development of new composite applications in different industries, an advancement in materials, increasing investment in research & development, increasing demand for light-weight materials, and rising quality and safety standards are major growth drivers of the testing market in the composites industry.
The global composites testing market is segmented based on testing type as destructive and non-destructive. Destructive testing type is further segmented into impact testing, fatigue testing, compression testing, flexure 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 its higher usage in a wide array of applications in the aerospace & defense, transportation, and wind energy.
Based on product type, the global composites testing market is segmented into polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composites consist of both thermoset and thermoplastic based composites and occupy the largest share in the global composites testing market. The segment is expected to remain the largest over the next five years as well.
The global composites testing market is further segmented based on end-use industry type as aerospace & defense, transportation, building & construction, wind energy, marine, and others. Aerospace & defense dominates the market and is expected to remain the largest segment by testing type 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 variant of existing programs, such as B737max, A320neo, B777x, and A330 neo, 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 in 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.
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Composites Testing Market Report Features
North America holds the largest share in the global composite testing market, mainly driven by the US. The country is the manufacturing capital of aerospace & defense industry with the presence of several large to small composite part fabricators. There is also a healthy demand for testing from other industries, such as wind energy, transportation, building & construction, and marine in the country. Another key driver of the testing market in the region is the shift of automobile manufacturing plants to Mexico.
Asia-Pacific is projected to witness the highest growth in 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 the 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.
Intertek Group, 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 the key players in the global composites testing market. New product development and collaboration with customers are some of the key strategies adopted by companies to gain competitive edge over other competitors.
Complete report is available at http://www.reportsweb.com/Global-Composites-Testing-Market-by-Testing
Composites Testing Market Report Features
This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, Product portfolio, Product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
The global composites testing market is segmented into the following categories:
Global Composites Testing Market by Testing Type:
Destructive Testing
Regional Analysis (NA, Europe, APAC, and RoW)
Testing Type Analysis (Impact Testing, Fatigue Testing, Compression Testing, Flexure Testing, Tensile Testing, and Others)
Non-Destructive Testing
Regional Analysis (NA, Europe, APAC, and RoW)
Testing Type Analysis (Visual Testing, Tap Testing, Ultrasonic Testing, Thermography, Radiography, Shearography, and Others)
Global Composites Testing Market by Product Type:
Polymer Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)
Ceramic Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)
Metal Matrix Composites (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composites Testing Market by End-Use Industry Type:
Aerospace & Defense (Regional Analysis: NA, Europe, APAC, and RoW)
Transportation (Regional Analysis: NA, Europe, APAC, and RoW)
Building & Construction (Regional Analysis: NA, Europe, APAC, and RoW)
Wind Energy (Regional Analysis: NA, Europe, APAC, and RoW)
Marine (Regional Analysis: NA, Europe, APAC, and RoW)
Others (Regional Analysis: NA, Europe, APAC, and RoW)
Global Composites Testing Market by Region:
North America (Country Analysis: USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, UK, Russia, and Rest of the Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
Rest of the world (Country Analysis: Middle East, Latin America, and Others)
Report Customization Options
Composites Testing Market Company Profiling
Applus+,
Element Materials Technology,
ETIM Composites Testing Laboratory,
Exova Group Plc,
Henkel AG & CO. KGaA,
Intertek Group Plc,
Mistras Group Inc.,
SGS Sercovam,
Westmoreland Mechanical Testing & Research Inc.
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Rajat Sahni
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Source: EmailWire.Com 
Source: EmailWire.com
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