The chemical testing services market is poised for significant growth, projecting an average compound annual growth rate (CAGR) of 5.4% from 2023 to 2033. Anticipated to reach a substantial market share of US$ 52.19 billion by 2033, the industry is set to experience a considerable increase from its estimated value of US$ 30.84 billion in 2023.
The chemical testing services market plays a pivotal role in ensuring the safety, quality, and compliance of a wide range of products across various industries. As globalization intensifies and regulatory standards become more stringent, the demand for accurate and reliable chemical testing services continues to surge. This market has witnessed significant growth in recent years, driven by increased awareness of health and environmental concerns, technological advancements, and the need for adherence to global quality standards.
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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.
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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.
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.
Key Players in the Chemical Testing Services 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
- MISTRAS Group
- AsureQuality Limited
- Nippon Kaiji Kentei Kyokai
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Key Segmentation of the Chemical Testing Services Market
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
- Lubricants & Greases
- Nanomaterial
- Petrochemicals
- Polymers & Plastics
- Specialty Chemicals
By End Use:
- Consumers Goods
- Packaging & Paper
- Toys
- Cosmetics
- Detergents & Cleaning Products
- Hygiene Products
- Food Material
- Electrical and Electronic Products
- Automotive
- Environmental
- Manufacturing
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