Non-Destructive Testing (NDT) Market Analysis

Non-Destructive Testing Market Analysis

The volumetric inspection segment is poised to hold more than 60% share of the non-destructive testing market by 2032. The use of volumetric inspection as the primary non-destructive inspection method in industries is at an all-time high. Poor-quality raw materials and feedstock can damage the infrastructure, especially when the refining process uses petroleum with higher sulfur content. As a result, there is a growing need for volumetric inspection services in the oil and gas industry to discover internal defects caused by corrosion and enable infrastructure owners to proactively manage the problems.
 

The non-destructive testing service market from the manufacturing segment is predicted to reach USD 5 billion by 2032. NDT testing services help avoid failures with automation testing that can endanger safety, reliability, and the environment by identifying defects that can lead to catastrophic situations and ensuring the safe and effective functioning of the assets and industrial machinery in the manufacturing settings. Additionally, the growing use of these services to carry out sample or comprehensive asset and equipment assessments to take smart asset management decisions is likely to stimulate  the market growth.
 

The non-destructive testing market from the eddy current testing segment generated more than USD 1 billion in 2022. Compared to traditional ultrasonic testing, eddy current testing offers a faster scanning speed and does not require fluid couplants. The ECA technique's ease of use encourages its adoption since it eliminates the need for inspectors with advanced training and expertise. It enables inspectors to examine a large area in a single pass and provides results by penetrating through paint and coatings. Increasing safety and security standards in the industrial sectors are expected to accelerate the Eddy current testing segment expansion.
 

The Asia Pacific non-destructive testing market is projected to witness more than 10% CAGR through 2032, attributed to stringent safety regulations and industrial standards. Furthermore, rising investments in the defense sector by major countries are set to proliferate the market demand. Recently, in December 2022, Australian shipbuilding company ASC and QMS NDT & NACE (QMS), a leading provider of NDT services, signed an agreement for the provision of metal survey and non-destructive testing (NDT). This deal was purposed to contribute to ensuring ASC's sustained excellence in performance and the Royal Australian Navy's accessibility to the Collins Class fleet.