Composites Testing Market to Reach Nearly $2 Billion by 2022
Increasing production of composites-rich commercial and regional aircraft, along with the development of new composite applications in different industries, are major growth drivers for the testing market in the composites industry.
The global composites testing market was reportedly valued at $1.2 billion in 2016 and is projected to witness a compound annual growth rate (CAGR) of 7.2% over the next five years to reach $1.9 billion in 2022. Increasing production of composites-rich commercial and regional aircraft, along with the development of new composite applications in different industries, are major growth drivers for the testing market in the composites industry, according to a recent report available from Research and Markets. Other major growth drivers include an advancement in materials, increasing investment in research and development, increasing demand for lightweight materials, and rising quality and safety standards.
The global composites testing market is segmented based on testing type as destructive (e.g., impact testing, fatigue testing, compression testing, flexure testing, tensile testing, and others) and non-destructive. Non-destructive testing is segmented into visual testing, ultrasonic testing, thermography, radiography, shearography, tap testing and others. Non-destructive testing is expected to remain the most dominant testing type over the next five years, reportedly driven by its higher usage in a wide array of applications in the aerospace and defense, transportation, and wind energy industries.
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 (both thermoset- and thermoplastic-based composites) occupy the largest share in the global composites testing market.
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