Chemical Testing Services Market to Witness Steady Growth at 5.0% CAGR During 2017 - 2025

A new report by Future Market Insights titled “Chemical Testing Services Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2025” throws light on the performance of the global chemical testing services market over an eight year forecast period and provides insights on the various factors impacting the global market over the said period.

In order to facilitate ease of understanding of the market and to provide more clarity on the different aspects of the global chemical testing services market, the report segments the market on the basis of testing service, sample type, and end use. Future Market Insights performs a detailed analysis of the global chemical testing services market across the key geographies of North America, Latin America, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA).

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Key takeaways from the report

The global chemical testing services market will expand at a significant growth rate of 5.0% during the forecast period, and will reach a market valuation in excess of US$ 30 Bn by the end of 2025

Chemical Regulatory Compliance Testing segment by Testing Service will dominate the global market during the assessment period, with a value CAGR of 6.2%, the highest among all the testing service types. This segment will hold a consistent value share of more than 25% throughout the forecast period

By Sample Type, the Petrochemicals segment will register the highest segmental CAGR of 5.9% during 2017 – 2025 followed by the Polymers & Plastics segment at 5.7%

Among the End Use segments, Consumer Goods will continue to dominate the global chemical testing services market throughout the forecast period in terms of value. This segment will reach a market valuation in excess of US$ 20 Bn by the end of 2025, up from an estimated US$ 15 Bn in 2017. Manufacturing will hold the second position among end use segments, recording a CAGR of 5.6% during the forecast period

The regional chemical testing services markets will witness parallel growth in terms of CAGR during the period of forecast, with APAC registering the highest CAGR of 5.3%. However, in terms of market share, Europe will lead the global market with a value share of 36% estimated to be recorded in the years 2017 and 2025

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This release was published on openPR.