Bureau Veritas S.A., Intertek Group plc, and SGS SA are some leading chemical testing services manufacturers.
A chemical testing services market is a critical processing step for regulatory compliance and certifiers to apprehend the composition and best of chemical substances and materials that are utilized in commercial procedures, merchandise, and production any end product. Furthermore, a chemical testing services marketplace requires talent in applying the maximum pertinent methodology and professional business knowledge.
Future Market Insights studies provides in-intensity studies on the chemical testing services in its modern-day report, titled ‘chemical testing services market: global industry evaluation and possibility evaluation, 2017–2025”. In step with the document, the global chemical checking out services market is projected to increase at a healthful CAGR of 5.Zero% at some stage in the forecast period in terms of sales.
In addition, numerous sorts of chemical analysis in chemical testing services is supplied to make sure that the goods are aligned with various guidelines along with attain, RoHS, and different chemical notifications. Similarly, for some verticals consisting of agrichemical, pesticides, or prescription drugs, there are extraordinary chemical testing services laboratories, along with the best Laboratory exercise (GLP) and desirable manufacturing exercise (GMP).
The chemical testing services marketplace is developing at a faster pace, as exceptional audits and call for remembers are receiving more publicity now than within the beyond, making the reaction to them extra sensitive and pressing. With chemical testing services marketplace vendors requiring to conform to an expansion of presidency-mandated requirements and regulatory compliances, they want to preserve strict certain product data and satisfactory control. Similarly, unique substances, production strategies, and packaging necessities pressure manufactures to hold stringent manage over their manufacturing procedures in chemical testing services marketplace. These regulations thru government and regulatory bodies are boosting the growth of the chemical testing services market.
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On the basis of region, Europe is estimated to be the center market in the chemical testing services market, expected to account for 36.0% value share of the global chemical testing services market in 2017. The region continues to dominate the chemical testing services market, and is expected to continue to do so throughout the forecast period. On the basis of testing service type, the chemicals regulatory compliance chemical testing services, and the contamination detection and analysis segments are projected to exhibit CAGRs of 6.2% and 5.4%, respectively, in terms of chemical testing services market value during the forecast period. This is attributed to the increasing demand for chemical testing services certifications from top regulatory bodies such as REACH, RoHS, and others.
The chemical testing services market in North America, APAC, MEA, and Latin America are anticipated to contribute majorly to the global chemical testing services market. The market in APAC is expected to account for 28.5% share in terms of value in the global chemical testing services market, and be valued at US$ 9,704 Mn by 2025 end. The increasing demand for chemical testing services certifications and analysis from the consumer goods and manufacturing industry of Europe and APAC, especially China and Japan, is expected to fuel revenue growth of the market in the region. The chemical testing services market in North America is estimated to be valued at US$ 5,282 Mn by 2017 end, and projected to expand at a CAGR of 39.6% during the forecast period.
Factors such increasing demand for chemical safety and quality control, growing demand for the outsourcing of chemical testing services, increase in manufacturers and TIC providers, and partnerships to strengthen the food security approach to encourage certifications, governments are subsidizing the cost of certification, which is expected to drive revenue growth of the global chemical testing services market.
The global chemical testing services market is segmented on the basis of service type, sample type, end use, and region. By sample type, the chemical testing services market is segmented into agrochemicals & pesticides, basic & industrial chemicals, dyes & detergents, lubricants & greases, nanomaterials, petrochemicals, polymers & plastics, and specialty chemicals. Moreover, by end use, the chemical testing services market is categorized into consumer goods, environmental, and manufacturing. Key regions covered in the report are North America, Latin America, Europe, APAC, and Middle East & Africa.
The chemical testing services market report analyses the global chemical testing services market in terms of value (US$ Mn) by testing service type, sample type, end use, and region; and provides insightful information regarding the segment analysis, market trends, competitive landscape, market dynamics, market estimations, and forecast.
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Chemical Testing Market: Companies
Key chemical testing services market participants covered in this report include Intertek Group Plc, Bureau Veritas, SGS SA, TÜV NORD AG, UL LLC, SAI Global Limited, SCS Global Services, TÜV Rheinland Group, MISTRAS Group, Dekra SE, BSI Group, Eurofins Scientific, and others.
Market segmentation
The subsequent sections of the report analyse the global chemical testing services market on the basis of testing service type, sample type, end use, and region, and presents a forecast for the period 2017–2025. The market is segmented as follows:
Chemical Testing Services Market by Testing Service Type:
Chemical Testing Services Market by Sample Type:
Chemical Testing Services Market by End Use:
Chemical Testing Services Market by Region:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Aug 10, 2022
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