The global brittleness tester market reached a valuation of US$ 11 Billion in 2021, and is expected to be valued at US$ 12 Billion in 2022. The industry is likely to procure US$ 19.44 Billion by 2032 while recording a CAGR of 4.9% during the forecast period from 2022 to 2032. Growth of the market can be attributed to the increasing R&D and product development as they help in determining the strength of the materials as low temperatures.
Report Attribute
Details
Estimated Base Year Value (2021)
US$ 11 Billion
Expected Market Value (2022)
US$ 12 Billion
Anticipated Forecast Value (2032)
US$ 19.44 Billion
Projected Growth Rate (2022-2032)
4.9%
Increasing testing and manufacturing of products is expected to contribute significantly to market growth. Brittleness testers are principally used to determine the brittle temperatures of rubbers, elastomers, and plastics. Therefore, the growth of these industries will eventually lead to the expansion of the brittleness tester market during the forecast period. Besides, the rapid expansion of automobile, consumer goods industries, and chemicals are other lucrative sectors yielding significant dividends to the market.
Based on type segment, the market can be classified into manual and automatic testers. The manual brittleness testers are likely to show slow growth against the automatic ones. The slow expansion can be attributed to the labor costs. On the other hand, the automatic testers are expected to gain significant traction in the forecast period. The rise of the segment can be credited to the accuracy and lesser human efforts involved. Besides, they’re more efficient than the other tester. The market is likely to record a decent growth in the assessment period.
Middle East & Africa is one of the largest producers of crude oil and raw material for plastics and polymers. However, the region is deprived of efficient manufacturing industries, which results in sluggish growth of the regional market. Therefore, the region is likely to lag behind as compared to other regions and witness slow growth during the forecast period.
A Flourishing Chemicals & Pharmaceuticals Sector Contribute to the Market growth?
The chemicals & pharmaceuticals sector is anticipated to be one of the most significant consumers of brittleness testers. Increasing demand for liquid nitrogen is projected to augment the market notably in the coming time.
Growing demand for liquid nitrogen in the pharmaceutical industry to retail cold reaction temperature for medicines is expected to generate significant demand for the device, thereby, benefitting the industry. In addition, increasing demand for liquid nitrogen to preserve biological samples is likely to offer significant opportunities for expansion to the market in the coming time. Moreover, growing new establishments by players are anticipated to expand the market.
For instance, Air Products, a renowned entity in industrial gases announced that it had started a new oxygen and nitrogen plant. In another instance, Air Products formally opened USD 33 million liquid nitrogen facility JBS Parkway. Such initiatives are expected to boost the demand for the brittleness market and benefit the industry.
What Factors are Impeding the Brittleness Tester Market?
High cost for production and high-value transportation are expected to be major factors impeding the market growth in the forecast period. Other challenges such as; lack of cash-flow liquidity, logistics, government norms during the pandemic have brought a negative impact on the market.
The outbreak of COVID-19 resulted in the immediate shutdown of industries, which brought a negative impact on the market. Also, the lack of raw materials hindered exports-imports, and reduced demand from end-users hampered the market expansion in the forecast period.
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How is the Energy and Power Sector of India Contributing to Bolstering the Market?
As per the analysis, the market in APAC is anticipated to grow at a CAGR of 2% during the forecast period. India is projected to be one of the most lucrative markets in the region. Expansion of India’s market can be credited to the growing development of application-specific seals, which enhance the demand for brittleness testers.
Increasing FDI in the power sector is expected to propel the demand for brittleness testers. For instance, the total FDI inflow in the power sector of India had reached USD 15.36 Bn from April 2000 to June 2021. The sector accounted for 3% of the total FDI inflow in India. Also, the growing government initiatives by the government can benefit the market in the forecast period.
For instance, in November 2021, Energy Efficiency Services Limited announced that it will partner with private sector energy service companies to scale up its Building Energy Efficiency Programme (BEEP). Owing to the aforementioned factors, the market in India is likely to expand during the forecast period.
How is Seal Manufacturing Driving the Market in North America?
As per the analysis, the market in North America is anticipated to expand at a CAGR of 2.2% during the forecast period. Among various developed countries of North America, the U.S is anticipated to make the maximum contribution in the coming period.
The U.S chemical manufacturers have a competitive edge due to the availability of cheaper and various abundant feedstock energy, which aids in garnering a significant share to the country. Also, increasing investments by the government are likely to aid in boosting the market. Such factors are likely to drive the demand for brittleness testers and benefit the market.
