The chemical testing services market is anticipated to thrive at an average CAGR of 5.4% between 2023 and 2033. By 2033, the market is predicted to be worth US$ 52.19 billion, whereas it is expected to be worth US$ 30.84 billion in 2023.
- A wide range of industrial applications, increased participation in research-based initiatives, and educational institutes introducing chemical testing operations for practical learning all contribute to the increased use of chemical testing services.
- Newer benefits like the detection of impurities and evaluation of new materials, including the identification of alloys, are expected to flourish the market growth. Also, the easy determination of contamination sources for elimination purposes through tracing foreign partials, stains, and degradation is helping many industries. These industries include inspection, crime research, and other purely chemical sectors.
- Other than impurities and contamination spotting, these services are also used for the metal and material testing of their strength, grade, and corrosion-preventing capacity. Regulatory chemical testing also makes sure that the chemical products meet the regulatory health and safety requirements. Hence, the new food and beverage products are helping the market expansion.
- Government-based research and approval centers are expected to garner market growth. Pharmaceutical brands also adopt these testing services on a large scale. As an active part of the drug testing and approval procedure, chemical testing is important in the final drug approval.
Get Access to Your Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4559
Key Points
- The United States market leads the North American chemical testing services market in terms of market share in North America. The United States held a healthy market share of 35.9% in 2022. The factors attributed to the growth are the restoration of research facilities along with the launch of new food and beverage items. Government-based FDA approvals with higher standards and multiple-level testing are also gaining traction for the regional market during the forecast period.
- The German chemical testing services market held an average market share of 8.3% in 2022. The market growth is caused by new testing methods by government and industrial authorities conducting chemical tests for purity, quality, grade, and impurity.
- The Indian market thrives at a healthy CAGR of 6.4% between 2023 and 2033. The growth is attributed to higher economic activities, production of drugs, and other medical-care products.
- The Chinese market strives at a CAGR of 5.9% between 2023 and 2033.
- Based on testing services, the chemical composition analysis segment held the leading market share of 21.7% in 2022.
- Based on end-use type, the consumer goods segment leads as it held a market share of 46.7% in 2022.
Competitive Landscape
The key suppliers focus on different types of tests, catering to different types of applications. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Get Instant Access to the Brochure: https://www.futuremarketinsights.com/reports/brochure/rep-gb-4559
Recent Market Developments
- MISTRAS Group has introduced its chemical testing services, including component testing, 3D metrology, physical testing, material-based testing, quality assurance & control (QA/QC)
- Nippon Kaiji Kentei Kyokai has introduced physical and chemical analysis before the approval procedures such as JIS, ISO, ASTM, and domestic laws.
Top Key Player in the Global Market
- Intertek Group Plc
- Bureau Veritas
- SGS SA
- TÜV NORD AG
- UL LLC
- SAI Global Limited
- Aspirata Auditing Testing And Certification (Pty) Ltd
- SCS Global Services
- TÜV Rheinland Group
Elevate Your Experience – Buy Now: https://www.futuremarketinsights.com/checkout/4559
Key Segmentation
By Testing Service:
- Chemical Composition Analysis
- Chemical Trace Analysis
- Chemicals Regulatory Compliance Testing
- Contamination Detection and Analysis
- Material Testing and Analysis
- Elemental Analysis Certification
- Others
By Sample Type:
- Agrochemicals & Pesticides
- Basic & Industrial Chemicals
- Dyes & Detergents
- Specialty Chemicals
By End Use:
- Consumers Goods
- Packaging & Paper
- Toys
- Cosmetics
- Environmental
- Manufacturing
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
