Chemical Testing Services Market: Overview
Chemical testing hold a paramount significance in materials science, and hence in wide range of industrial, chemical, and commercial applications. Over the years, advances in instrumentation have allowed end users meet performance requirements and compliance needs. These services enable end-use industries to test sample’s quality and its chemical composition, notably in identifying the composition in terms of trace metals and impurities. Growing demand for chemical testing labs in chemical analysis and quality control testing in process industries form a key part in the expansion of the chemical testing services market. Advanced chemical testing services should comprise the use of high-end analytical instrumentation to meet the various industry standards such as ISO 17025, Good Laboratory Practice (GLP), and Good Manufacturing Practice (cGMP).
A wide range of ores, ferroalloys, composites, polymers, metals undergo chemical testing services to meet the requirements of machining and fabrication. ICP-AES and ICP-MS analysis.
Key end-use industries are petrochemicals, dyes and detergents, agrichemicals, pharmaceuticals, consumer products, and automotive.
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Chemical Testing Services Market: Key Trends
The study on the chemical testing services market sheds light on key growth dynamics, new avenues in various industries, and technological advances in analytical chemistry that are likely to shape the nature of offering of providers. The research also offers insights into the impact of consumer trends on the growth prospects of various key geographies. It also highlights market estimations of all key product segments and the competitive assessment.
Traction of chemical testing services in chemical trace analysis has become stronger in medical device manufacturing and pharmaceutical sector. Growing demand for such services in contamination detection and analysis is boosting the chemical testing services market. In several industries, notably in food and beverages and agrochemical sectors, chemical testing services have enables businesses to screen out banned chemicals.
Some of the expertise providers in the chemical testing services offer relate to Atomic Emission Spectroscopy (AES), Fourier Transform Infrared Spectroscopy (FTIR), Inductively Coupled Plasma Spectroscopy, and ICP Spectrometers.
Chemical Testing Services Market: Competitive Analysis and Key Developments
Prominent players are leaning on offering high-quality chemical analyses for testing of specialty chemicals. In a bid to gain competitive edge in the chemical testing services market, top players are expanding the array of instrumental wet chemistry services.
A growing number of providers of chemical testing services have gained substantial revenue streams due to susceptibility to corrosion. A case in point is RoHS Compliance Testing in the European Union. Prominent players have in recent years have been offering next-gen chemical testing technologies that promise high turnaround time. Most players have expanded their lab facilities in countries where part suppliers of end-use industries are present. This helps the end-use industries to obtain quick service. A few players have strengthened their expertise in contamination testing.
Some of the well-entrenched players in the chemical testing services market are:
- Bureau Veritas
- TUV NORD
- SAI Global
- SCS Global Services
Chemical Testing Services Market: Regional Assessment
On the regional front, North America and Europe have been presenting sizable revenue streams over the past few years. Presence of top services providers has also helped in the rapid expansion of those regional markets. Further, strides being made in polymer manufacturing and promising leaps made by composite industry in some countries of Asia Pacific, has kept the regional market increasingly lucrative in recent years.
On the other hand, stringent implementation of industry standards in plastic manufacturing is expected to open new avenues in numerous Asian countries. Rise in demand from process solutions and coatings industry is boosting the Asia Pacific chemical testing services market.
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Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.