According to a new analysis issued by Fact.MR, a market research and competitive intelligence firm, the global Destructive Composites Testing market is expected to surpass a valuation of US$ 3 billion by 2031, growing at a CAGR of roughly 6% from 2021 to 2031.
Fact.MR believes the market has tremendous potential due to the growing use of composite materials in a variety of industries, including transportation, aerospace, defence, wind energy, and building and construction, all of which must adhere to demanding Destructive Composites Testing standards. Several high-end composite uses have been investigated over the last decade. Composites’ main benefit is their strength and rigidity paired with their lightweight.
Destructive Composites Testing Market: Key Takeaways
- Over the next ten years, the non-destructive Destructive Composites Testing method is expected to grow at a CAGR of 5.7 percent.
- The automotive industry continues to dominate the Destructive Composites Testing market, which is growing at a CAGR of more than 7%.
- North America accounts for over 30% of worldwide market share, with the United States serving as the region’s aerospace and defence industrial capital.
- Europe accounts for over a quarter of global market revenue in Destructive Composites Testing, owing to considerable demand for composites from the commercial aircraft and transportation industries.
- With its fast rising automotive industry, the East Asian region is expected to see a surge in demand for Destructive Composites Testing.
According to a Fact.MR analyst, “demand for Destructive Composites Testing is expected to rapidly expand in the future years due to high-end applications of composites gaining popularity in major industries such as automobile, wind energy, aerospace, and defence.”
What are the Opportunities on Offer for Destructive Composites Testing Providers?
Opportunities for Destructive Composites Testing appear to be promising in the next years, given the growing demand for composites from diverse industries.
Destructive Composites Testing is emerging as a profitable and fast-growing investment opportunity, with significant demand for lightweight composite materials in the aerospace industry and rising quality and safety standards as a major requirement.
Large investments in the establishment of state-of-the-art Destructive Composites Testing facilities are also fueling market growth in Asia Pacific.
This testing procedure is widely utilised to qualify the performance of composite materials in the aeroplane, automobile, and spacecraft industries, with major investment inflows expected in all of the aforementioned areas.
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