World Composites Testing Market to Surpass USD 1.81 Bn by 2022, Expects Stratview Research in Its Topical Report Available at MarketPublishers.com22 Jun 2017 • by Natalie Aster
LONDON – The value of the world’s composites testing market exceeded USD 1.18 billion in the past year. It is poised to increase at a 7.2% CAGR in the next 5 years to go beyond USD 1.81 billion in 2022.
The key factors propelling growth in the composites testing market comprise rising production of composites for aircraft, introduction of new composites applications across various industries, rising investments in R&D, escalating demand for lightweight materials, and constantly increasing safety and quality standards, amid others.
Non-destructive composites testing type is poised to continue holding the dominant position in the overall market between 2017-2022, owing to its extensive usage in a wide range of applications in wind energy, aerospace, defense, transportation and other industries.
Amid end-use industries, transportation is anticipated to experience the highest growth through 2022, spurred by enhancing penetration of advanced composites in the structural elements of the automobile, especially in premium and electric vehicles to satisfy the regulatory requirements.
North America captures the major share in the world’s composites testing market, primarily propelled by the US. Meantime, the APAC market is poised to exhibit the highest CAGR through 2022.
Topical research report “Global Composites Testing Market by Testing Type, by Product Type, by End-Use Industry Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017 – 2022” worked out by Stratview Research includes the most up-to-date info on the performance of the composites testing market at different geographical scales. This study contains an in-depth analysis of the current market scenario, touches upon the historical development patterns and also gives access to a comprehensive future outlook through 2022 with details on the major emerging opportunities and challenges. This report encompasses an overview of the market dynamics and top trends, scrutinizes the main growth influencing factors, reviews the leading players and touches upon competitive landscape.
A full collection of the publisher’s research studies is at hand in the Stratview Research catalogue at MarketPublishers.com.