Polymer Testing Equipment Market Size & Analysis - Forecasts to 2026
Global Polymer Testing Equipment Market Insights
The global market is estimated to witness a high CAGR during the forecast period (2019-2026). Growing use of polymer-based products through manufacturing industries and production facilities are some of the major factors driving the polymer testing equipment market. Rise in the investments made in the healthcare sector is expected to propel the market growth during the forecast period. Growing innovations and modifications in the textile industry is driving the market during the forecast period. However, stringent norms by the government, and environmental regulations are likely to hamper the market growth during the forecast period.
By Product Type
On the basis of product type, the global polymer testing equipment market is segmented into universal testing, capillary rheometers, pendulum tester, and melt flow testers among others. The universal testing segment is expected to grow at the highest CAGR during the forecast period. Significant rise in construction activities in developing countries such as India, China, and Mexico is expected to create a healthy growth opportunity for polymer testing equipment manufacturers. Furthermore, increased production of manufacturing units and increased transportation costs are expected to boost the market for polymer testing equipment.
Pendulum tester is used to measure the physical strength of the solids and the impact resistance of the materials. Melt flow meters are used to measure the melt flow resistance (MFR) of a wide range of polymer materials. Increased focus on the automotive and construction is expected to provide an opportunity for the melt flow tester to occupy largest market share in 2018.
By Test Type
On the basis of test type, the market is segmented into mechanical test, physical test, thermal test, rheological test, and optical test among others. Mechanical test segment is expected to grow at the highest CAGR during the forecast period. Mechanical testing is a vital part of the development and production cycle of the material. It has resulted in the increased demand for polymer testing equipment in the global market. Physical testing helps to determine the properties of the materials. Physical test includes hardness, and density among others. However, the physical test is expected to continue its steady growth rate, thereby estimated to gain pace during the forecast period.
By Test Type
On the basis of test type, the market is segmented into medical, packaging, construction, aerospace & defense, and textile among others. The medical industry is estimated to account for the largest market share, in terms of value. Growing construction companies and construction activities across the globe are among the major factors driving the polymer testing equipment market. The construction industry is estimated to grow at the highest CAGR between 2019 and 2026. Growing construction industry and expansion of urban cities in developed and developing nations is propelling the market growth. Improving economic conditions in countries such as India and China is stimulating the demand for commercial spaces.
On the basis of region, the market for polymer testing equipment is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. North America is expected to witness considerable growth in the polymer testing equipment market during the forecast period. Growing construction, and medical activities in the region is propelling the market growth. The U.S. is expected to be the largest construction market in North America and is expected to have the largest number of construction facilities. The Europe region is expected to grow at a high CAGR during the forecast period. Europe is expected to hold the second largest market share due to increased government spending on laboratories and research and development projects. Growing construction industry in emerging countries including China, India, Japan, South Korea and Singapore among others is propelling the market growth in the region.
End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Rio Tinto, and Anhui Conch Cement Co. among others.
The report contains a chapter dedicated to vendors operating in the Polymer Testing Equipment market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Polymer Testing Equipment Market Share & Competitor Analysis
Some of the key players operating in the market are Illinois Tool Works Inc., A&D Company, Limited International Equipments, HexaPlast India Qualitest International Inc., Advance Equipments, Asian Test Equipments, Aimil Ltd., Thermo Fisher Scientific, Ray-Ran Test Equipment Ltd, GÖTTFERT Werkstoff-Prüfmaschinen GmbH, Dynisco, Agilent Technologies, Inc., AMETEK Inc, and Malvern Panalytical Ltd. among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Polymer Testing Equipment Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies.
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