Composites Testing Market

Market Snapshot

As per Fact.MR’s market insights, composites testing revenue totalled over US$ 1.5 Bn in 2020. The global composites testing market is anticipated to surpass US$ 3 Bn by 2031, expanding at a CAGR of around 6%, bucking initial scepticism about how the market would perform during a global pandemic.

Demand for the non-destructive composites testing method is estimated to rise at 5.7% CAGR over the next 10 years, while that of the destructive composites testing method is expected to sure at a CAGR of close to 6% reaching a valuation of around US$ 1 Bn by 2031.

Key Points Covered in Composites Testing Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on Composites Testing and How to Navigate
• Recommendation on Key Winning Strategies

Industry Analysis of Composites Testing from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031

As per analysis by Fact.MR - a market research and competitive intelligence provider, historically, from 2016 to 2020, demand for composites testing increased at around 3% CAGR, owing to rising application of composites in transportation, aerospace, defence & wind energy with stringent testing standards to be followed.

Various other applications of composites such as building & construction, sporting goods, and electrical & electronics are responsible for the upsurge in demand for composites testing. Different types of composites used in all the above-mentioned applications are required to comply with stringent testing standards at every step in the supply chain of composite manufacturing.

With growing application of composites in defence and aerospace industries, demand for composites testing from advanced commercial aircrafts has escalated over the years. High percentage of composites being used in aircraft structures requiring different testing methods has led to creating ample opportunities for market players.

The market for composites testing is projected to grow approximately 2X over the next ten years to be valued at around US$ 3 Bn by 2031.

What are the Opportunities on Offer for Composites Testing Providers?

With increasing demand for composites from various industries, opportunities for composites testing looks lucrative for the coming years.

With high demand for lightweight composite materials in the aerospace industry and rising quality and safety standards as a major requirement, composites testing is emerging as a profitable and fast-growing investment opportunity.

Furthermore, large investments for the development of state-of-the-art composites testing facilities in Asia Pacific is fuelling market growth.

This testing process is widely used in aircraft, automotive, and spacecraft industries to qualify the performance of composite material, with large investment inflow expected in all of the mentioned industries.

Composite materials are also widely utilised in designing crucial components in sports, ships, buildings, and other high-performance applications that require adherence to high levels of safety and durability, due to which, the composites market is subjected to severe restrictions in order to meet with composite testing and manufacturers’ proprietary testing requirements.

Over the coming years, due to this particular aspect, global demand for composites testing is projected to produce a favorable atmosphere for growth and profitability. Growing oil & gas industry as well as growth of the chemicals industry, with high demand for composite pipes and tanks, will further drive the need for composites testing.

Various factors such as increase in usage of composite materials in various industries, rise in production of commercial aircraft, increasing investments in R&D, growing safety standards among various industries, and rising demand for lightweight material will boost demand growth for composites testing during the assessment period of 2021-2031.

What are the Restraints being Encountered by Composites Testing Service Providers?

High processing and material cost, lack of awareness, and absence of proper standardisation for products are some of the factors that are acting as restraints for composites testing service providers.

Currently, not many manufacturers are investing in R&D, and instead of cutting-edge technology, more investments are directed towards creating somewhat relevant technology. This is hampering the growth of composites testing services. Also, there is huge scarcity of trained professionals for conducting composites material testing, which is further affecting market growth.

Moreover, the COVID-19 pandemic impacted demand for composites testing, as most industrial activity had been shut, which, in turn, affected demand and the supply chain to a great extent.

The non-recyclability of composite materials is another factor that is posing a major threat to the growth of the market. Many of the generic material recycling systems that are available do not cater to high-end composite materials, and often these materials end up being problematic for disposal.

Lot of research is going on to combat this problem of composite material disposal and recycling, which will, in turn, solve the major issue faced by the composites industry.

Which Region Offers the Largest Opportunity for Composites Testing Providers?

North America holds the largest market share of close to 30% in the global composites testing industry, mainly driven by the U.S., which is the manufacturing capital of the aerospace & defence industry with the presence of several OEMs, tier-1 players, and testing service providers. There is also high demand for testing from other industries, such as wind energy, transportation, building & construction and marine, in the country.

Europe accounts for the second-largest market share of around 25%. This is owing to high demand for composites from Europe’s commercial aircraft and transportation industry, presence of major composites testing service providers, and stringent regulatory norms by the European Committee for Standardization (CEN) to ensure and maintain the quality of composites.

Composites testing service providers in the region are focusing on capacity expansion in composite production to meet the high demand for non-destructive testing from commercial airline companies.

Country-wise Analysis

Why is Demand for Composites Testing Set to Surge in China?

According to China Automotive Association, in 2018, vehicle production increased 30%. Growth was attributed to its FDI (foreign direct investment) policy that has favoured China’s automobile industry and has attracted many well-established foreign brands to invest in the same.

This has led to high demand for composites testing, especially from the automotive industry, in the country.

How is the Booming Automobile Industry in Japan Driving Demand for Composites Testing?

As per a report by Japan`s Automobile Manufacturers Association, total demand for passenger cars and commercial vehicles in Japan in 2017 was 5.19 Mn units, an increase of 2.2% from the previous fiscal year, with sales of passenger cars and CVs (computer controlled vehicle systems), excluding mini-vehicles, totalling 3.34 Mn units, and sales of mini-vehicles reaching 1.86 Mn units, up 7.9%.

Japan’s robust automotive industry has positively impacted demand for composites testing, and the same is expected for the years ahead.

Category-wise Insights

Why is Mechanical Composites Testing the Most Popular?

Mechanical composites testing holds the largest share in the market, and its high growth is mainly attributed to increasing demand for composites in varied applications such as interiors of automobiles, medical devices, defence and others.

Addition of high strength fibres to polymer matrix can greatly improve mechanical properties such as ultimate tensile strength, temperature resistance, and flexural modulus. It is due to these high-end structural applications of composites that mechanical testing remains the most in demand.

Why is Continuous Fibre Testing Highly Demanded across the World?

Continuous fibre composites are laminated material in which individual layers, piles, or lamina are set to orient in the directions that enhance strength in any primary load direction.

Continuous fibres have a high tensile strength and thermoplastic matrix systems of relatively low glass transition temperature, such as polypropylene/glass fibre, and hence, are used in various applications in the automobile sector. These multi-speciality applications make continuous fibres and their subsequent testing highly demanded across the world.  

Which End-use Industry Dominates the Composites Testing Sector?

The automobile industry continues to dominate demand for composites testing, expanding at a CAGR of more than 7%.

Composites have combined with general advantages of semi-crystalline thermoplastic matrix composites with respect to moulding processes, chemical resistance, damage tolerance, and environmental resistance. Hence, composites see great demand in various applications in automobile manufacturing.

With the ever-growing automotive industry and its demand for composites across the world, this segment is witnessing the highest growth among the end users.

Competitive Landscape

According to the composites testing industry research by Fact.MR, the market is moderately consolidated owing to the presence of a few major players globally. Market players are viewing strategic partnerships and collaborations as a lucrative path towards expansion of their market share. Companies are also collaborating to conduct R&D activities and further strengthen their opportunities in the market.

Some of the key developments are:

• In October 2019, a team of researchers at the University of Texas at Arlington started researching to develop better modeling methods for affordable, sustainable testing of composite materials. A funding of US$ 2.3 Mn was also received from the Air Force Research Lab to continue a collaborative project with colleagues at Wichita State University.
• In September 2019, Continuous Composites, an additive manufacturing materials company, partnered with French advanced materials company, Arkema, to integrate Continuous Composite’s patented Continuous Fibre 3D (CF3D) printing technology with Arkema’s photocurable resin solutions.

Similarly, recent developments related to companies providing composites testing have been tracked by the team at Fact.MR, which are available in the full report.

Composites Testing Industry Analysis

Key Segments Covered in Composites Testing Market Report

• Product

  • Composites Testing of Continuous Fiber Composites
  • Composites Testing of Discontinuous Fiber Composites
  • Composites Testing of Polymer Matrix Composites
  • Composites Testing of Ceramic Matrix Composites

• Testing Method

  • Destructive Testing Method of Composites Testing
  • Non-destructive Testing Method of Composites Testing

• End-use Industry

  • Composites Testing in Aerospace & Defence
  • Composites Testing in Transportation
  • Composites Testing in Building & Construction
  • Composites Testing in Wind Energy
  • Composites Testing in Marine Industry

Composites Testing Market- Scope of Report

A recent study by Fact.MR on the composites testing market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering composites testing facilities.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies providing composites testing equipment and facilities, along with key strategies, SWOT Analysis, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth and revenue generation across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue of composites testing market during the forecast period.

Analysis of Market Size

The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).

Market estimates at global and regional levels for composites testing are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global composites testing market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on revenue for composites testing has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for key countries has also been included in the report.

Competition Analysis

The report sheds light on leading providers of composites testing, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in composites testing has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the composites testing market.