Positive Material Identification Market Outlook – Rising Demand, Share, Trends, Growth, Opportunities and Top Key

SDKI Inc. published a new report on the Positive Material Identification (PMI) Market. This study includes the statistical and analytical approaches needed to grow a positive material identification market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-109549

The positive material identification market is estimated to grow from a market value of US $ 2.49 billion in 2022 to US $ 4.21 billion by 2030, with a CAGR of 7.79% during the forecast period.

Positive Material Identification (PMI) is used to analyze and identify material grades and alloy compositions for quality and safety controls. Positive material identification, a rapid and non-destructive method, is performed on a wide range of components and assets and provides semi-quantitative chemical analysis. It is used for both material verification and identification. Strict government safety regulations, quality control requirements, inefficiencies in aging assets, and the need for subsequent operational safety are several factors driving the growth of this market. Innovative technological advances in PMI equipment are also contributing to market growth. However, the high costs associated with PMI equipment can curb market growth.

Market Segments

Positive Material Identification Markets are by offer (equipment and services), technology (XRF and OES), form factor (portable analyzers and benchtop analyzers), industry (chemicals, automotive, recycling), and region. It will be split separately. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Based on the delivery, the service segment is expected to grow at a high CAGR during the forecast period.

PMI services include only third party services provided by test, inspection and certification (TIC) players such as SGS, Bureau Veritas, Intertek and TÜV SÜD. Various industry players are purchasing PMI equipment for testing alloys and metal materials. The service segment has the potential to grow at a higher CAGR due to the increased concentration of third-party service providers in this market.

Based on technology, the XRF analytics segment retained the major size of the PMI market in 2017.

The adoption of XRF analyzers is very large compared to the adoption of OES analyzers. XRF is the purest form of NDT and these analyzers are cheaper than OES analyzers. In addition, the OES method causes burn marks on the object, but XRF enables clean analysis. In addition, while XRF analyzers are small in size and mostly portable, OES analyzers are primarily suitable for laboratory use, which is a benchtop device weighing over 15-20 kg per analyzer. These factors may facilitate the adoption of XRF analyzers in industries such as oil and gas, recycling and chemicals.

Regional Overview

The Asia Pacific region is the largest contributor to the adoption of PMI products. The region, including China, Japan and India, is seeing increasing adoption of PMI products due to the strong industrial base of these countries. The Asia Pacific market is expected to grow at a maximum CAGR during the forecast period due to increased implementation of these devices to improve processes in various industries. In addition, Asia-Pacific countries are involved in the manufacture of defense aircraft, and the adoption of PMI methods in the aerospace and defense industries is expected to increase. Many infrastructure development projects are under construction in the region.

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, and other Asia Pacific); Latin America (Brazil, Mexico, Argentina, and other Latin). USA); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy, Spain) , Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

Key Players in the Market Positive Material Identification

The key players in the market are Olympus (Japan), Thermo Fisher (USA), Bruker (USA), Hitachi High Technologies Corporation (Japan), Ametek (USA), Simadzu (USA). Japan), PANAlytical BV (Netherlands), SGS Group (Switzerland), Bureau Veritas SA (France), Intertek Group PLC (UK), TÜV SÜD Group (Germany), Element Materials Technology (UK), TÜV Rheinland AG Group (Germany) And so on. The survey includes a detailed competitive analysis of these key companies in the positive material identification market, company profiles, recent developments, and key market strategies.

About the detailed contents of the survey report
https://www.sdki.jp/reports/positive-material-identification-market/109549

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This release was published on openPR.