Global Material Testing Market to Reach US$ 7.8 Billion by 2027 | IMARC Group
As per the latest report by IMARC Group, titled “Material Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,”the material testing market size reached US$ 5.8 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 7.8 Billion by 2027, exhibiting a CAGR of 5.11% during the forecast period (2022-2027).
Material testing refers to the process of determining the physical, structural, and mechanical properties of various materials and components. It is used to analyze the characteristics and behavior of metals, ceramics, or plastics under various conditions. The data obtained is furtherutilized to specify the suitability of materials for multiple applications such as building or aircraft constructionand packaging.
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Global Material Testing Market:
The market is primarily driven by the expanding construction industry as raw materials, such as adhesives, sealants, concretes, mortar, ceramics, slates, stones, and pipes, are tested to check for the desired properties. Moreover, the growingfocus on meeting manufacturing standards such as ASTM and ISO is also contributing to the market growth. Besides this, the manufacturing of innovative composites across various industries represents another growth-inducing factor. Moreover, the market is furtherpropelled by several technological advancements, such as the development of testing equipment with multi-stage testing capabilities and picture-video capture functionalities. Furthermore, increasing product adoption by the medical sector to test material integrity, surface morphology, and adhesion capacities, along with extensive research and development (R&D) activities, are some of the other factors anticipated to propel the market growth in the coming years.
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- Based on the type, the market has been segmented into universal, servohydraulic, hardness, impact, and non-destructive testing machines.
- On the basis of the material, the market has been classified into metals and alloys, plastics, rubber and elastomers, ceramics and composites, and others.
- Based on the end-use industry, the market has been categorized into automotive, construction, education, aerospace and defence, oil and gas, energy and power, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The report has also analyzed the competitive landscape of the market, with some of the key players being Admet Inc., Ametek Inc., Applied Test Systems LLC, Illinois Tool Works Inc., Labquip, Mistras Group Inc., Mitutoyo Corporation, MTS Systems Corporation, Shimadzu Corporation, Tinius Olsen Ltd., Wirsam Scientific, and ZwickRoell AG.
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