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Global material testing Market is expected to rise from its initial estimated value of USD 668.04 million in 2018 to an estimated value of USD 960.99 million by 2026, registering a CAGR of 4.65% in the forecast period of 2019-2026. Increasing demand of material testing from various end user industries is driving the growth of this market.
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Market Definition: Global Material Testing Market
Material testing is usually done to identify the physical and mechanical properties of the different materials and components. Compression, tensile strength, peel strength, shear strength, bond strength, flexure etc. are usually tested in this material testing. These testing are very useful as it help in the production, quality control, R&D. These days, material testing is widely used in many industries like construction, automotive, aerospace, defence etc.
Key Developments in the Market:
- In June 2017, UL announced the launch of their new composite material testing laboratory at Bangalore. They are specially designed for the testing of the materials like polymer blends, carbon & glass fibers and laminates reinforced with nanoparticles. The main aim is to meet the demand of the composite materials in industries like aerospace, automotive and renewable energy.
- In February 2019, HeiQ announced the launch of their new service for the fabric innovation – HeiQ Fabric Labs. The main aim is to create new ideas and apply it in fiber, yarn, fabric solutions, and chemical technologies. Fabric trend research, material education and product marketing and education seminars are some of the other services that are provided by HeiQ Fabric Lab.
Key Market Competitors: Global Material Testing Market
Few of the major competitors currently working in material testing market are Illinois Tool Works Inc, Zwick Roell Group, Shimadzu Corporation, Tinius Olsen, ADMET, Inc., Hegewald & Peschke Meß- und Prüftechnik GmbH, Applied Test Systems, Mitutoyo America Corporation., TA Instruments, Torontech Inc., Qualitest International Inc, ETS Intarlaken Technologies, Struers, MTS Systems Corporation.
- Increasing demand of material testing from aerospace industry is driving the growth of this market.
- Increasing preference for manufacturing quality products is driving the market.
- Destruction of resources during the testing is restraining the growth of this market.
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Global material testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of material testing market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Material Testing Market
- By Type
- Universal Testing Machines
- Servohydraulic Testing Machines
- Hardness Testing Equipment
- Impact Testing Equipment
- By Materials
- Rubber and Elastomer
- Ceramics and Composites
- By End- User
- Educational Institutions
- Aerospace & Defense
- Medical Devices
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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