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The increasing growth of new plants in the food & beverage sector is driving the growth of the chemical testing services market.

HYDERABAD, TELANGANA, INDIA, November 17, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Chemical Testing Services Market size is forecast to reach US$11.2 billion by 2027, after growing at a CAGR of 4.5% during 2022-2027. Chemical testing services are used to test and analyze a wide range of chemicals to determine their quality, purity, volatility, environmental impact, and other properties. These services are essential in certifying chemicals that are used in a wide variety of different applications, ranging from industrial and commercial use to chemicals used in daily lives. Some common types of chemical analyses are composition analysis, contamination detection, chemical trace analysis, and material testing. These tests are commonly used for the certification of specialty chemicals, biocides, pharmaceuticals, food & beverage additives, and so on. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Chemical-Testing-Services-Market-Research-508208

Key takeaways:

This IndustryARC report on the Chemical Testing Services Market highlights the following areas -

1. The European region is estimated to dominate the chemical testing services market within the forecast period 2022-2027. This is primarily because the European Union mandates various regulations internationally through regulatory bodies like REACH and RoHS.

2. The food & beverage industry is heavily driving the demand for the chemical testing services market as many of the specialty chemicals used in the industry must undergo various chemical tests and be certified for use.

3. The growing trend for greener initiatives and improving standards for safety regulations are driving the need for new mandates and regulations which are, in turn, driving the chemical testing services market growth.

4. The key players in the chemical testing services market are Intertek Group plc, Bureau Veritas, SGS Group, Scientific Certification Systems, Inc., and TÜV Rheinland.

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Segmental Analysis:

1. Chemicals regulatory compliance testing held the largest share with 25.4% in the chemical testing services market in 2021. Chemical regulation has been one of the largest concerns for governments as there has been a growing demand for chemical safety for our health and the environment.

2. The European region held the largest share with 38.7% in the chemical testing services market in 2021. The demand for chemical testing in Europe is especially being driven by regulatory bodies like the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and the Restriction of Hazardous Substances (RoHS) directive, which mandate chemical regulations not only in the region but also internationally.

3. The food & beverage industry held the largest share with 21.3% in the chemical testing services market in 2021. Chemical testing is of paramount importance in the food & beverage industry as it is essential in facilitating the safe application of chemicals used in the food & beverage sector and ensuring high product quality and integrity.

Competitive Landscape:

The top 5 players in the Chemical Testing Services Industry are -

1. Intertek Group plc
2. Bureau Veritas
3. SGS Group
4. Scientific Certification Systems, Inc.
5. TÜV Rheinland

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