Composites Testing Market is Likely to Unfold Lucrative Business Opportunities during the Forecast Period
The Asia-Pacific region is projected to be the fastest-growing market for aerospace composites from 2016 to 2026. The high penetration of composites testing in this region can be attributed to the high demand for composites from commercial aircraft, sporting goods and wind energy applications in this region, which in turn is leading to the high demand for composites testing. In addition, private companies are also investing in this region owing to the high demand for composites for indigenous aircraft such as Comac C919, and the wind energy and sporting goods applications.
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With the highest demand for composites from the French aerospace & defense companies, France leads the composites testing market in Europe. The development and manufacture of a wide range of composite products, for commercial, military, and civil aircraft and systems & equipment, are driving the composites testing market in the country. In addition, the costs for establishing a business or facility in France are the lowest in terms of facility costs, utility costs, transport, and corporate taxes. Furthermore, corporate income tax in France is either low or nil.
The use of continuous fiber composites in high end applications such as aerospace & defense and transportation is projected to grow during the forecast period. Owing to their light weight and increased fuel efficiency, continuous fiber composites comply with the eco-friendly regulatory mandates in certain regions such as the U.S. and Europe. In addition, various advantages offered by continuous fiber composites such as chemical inertness, high tensile strength, thermal stability, reduced part count and easy maintenance over their counterparts has driven the demand in the aerospace & defense and transportation applications.
Destructive testing is projected to be the fastest-growing testing method, from 2016 to 2026, due to its growing penetration in the wind energy applications. Destructive testing is integral in the assessment of the mechanical properties of composites such as compression strength, shear strength, flexure strength and others. The penetration of composites testing in rotor blades is increasing due to the requirement to check their efficacy and quality. This in turn is leading to the high demand for destructive composites testing.
Composites testing is more extensively used in the aerospace & defense industry. A majority of the composites are used to make airframe structures such as undercarriage, fuselage, and wings for aircraft. Besides this, the use of composites is projected to grow in the advanced and next-generation commercial aircraft which would constitute the use of significant percentages of aerospace composites in airframe structures. Thus, the penetration of composite testing in the aerospace & defense application is projected to grow from 2016 to 2026.
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The key players in the global composites testing market have adopted agreements, investments & expansions and acquisitions strategies between 2012 and 2016. The major companies operating in this market are, Exova Group plc (U.K.), Intertek Group plc (U.K.), Mistras Group Inc. (U.S.)., Element Materials Technology (U.S.), Westmoreland Mechanical Testing & Research Inc. (U.S.), Matrix Composite, Inc. (U.K.), Instron (U.K.), ETIM Composites Testing Laboratory (France), Henkel AG & CO. KGaA (Germany).
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