According to the latest report by IMARC Group, titled, “Material Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, The global material testing market size reached a value of US$ 5.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2027, exhibiting at a CAGR of 5.11% during 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 further utilized to specify the suitability of materials for multiple applications such as building or aircraft construction and packaging.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Material Testing Market Trends:
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 growing focus 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 further propelled 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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Global Material Testing Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis on region, type, material and end use industry.
Breakup by Type:
Universal Testing Machines
Servohydraulic Testing Machines
Hardness Testing Machines
Impact Testing Machines
Non-Destructive Testing Machines
Breakup by Material:
Metals and Alloys
Plastics
Rubber and Elastomers
Ceramics and Composites
Others
Breakup by End Use Industry:
Automotive
Construction
Education
Aerospace and Defense
Oil and Gas
Energy and Power
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil,Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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