Press release
Positive Material Identification (PMI) Market Growth Fueled By Expanding Oil And Gas Industries: A Key Factor Shaping the Future of the Positive Material Identification Market in 2025
Positive Material Identification Global Market Report 2025
The positive material identification (PMI) market is predicted to flourish due to the expanding oil and gas industries. These industries, which focus on hydrocarbon exploration, the gathering of data, development, drilling, production, refining, distribution, and transport, use PMI for safety compliance and quality control. PMI plays a crucial role in the management of production and asset integrity in these sectors. For example, the United States Energy Information Administration, a principal institution in the United States Federal Statistical System, reported a 4% increase in natural gas production in the United States in 2022. This increase was 4.9 billion cubic feet per day (Bcf/d), averaging to 119 Bcf/d. Therefore, the progression of the oil and gas industries is a key factor in the growth of the positive material identification market.
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What is the future CAGR of the positive material identification market, and how will it impact industry expansion?
The market size for positive material identification has seen considerable growth in recent periods. It's predicted to increase from $3.07 billion in 2024 to $3.3 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The previous growth trend can be traced back to factors such as safety measures, quality assurance standards, industrial expansion, as well as the rise in metal processing and fabrication. The role of aerospace, defense applications, and the thriving oil and gas industry cannot be overlooked.
The market size for positive material identification is projected to show robust growth in the upcoming years, expanding to $4.5 billion by 2029 with an 8.0% compound annual growth rate (CAGR). This growth during the projection period is fueled by factors such as its use in pharmaceuticals, quality control in construction, expansion of global trade, breakthroughs in spectroscopy, and expansion of the recycling industry. Key trends for this period include developments in handheld devices, AI and data analytics integration, emphasis on solutions tailored to specific industries, the emergence of mobile and cloud integration, and improvements in non-destructive testing.
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What are the most significant trends transforming the positive material identification market today?
Leading corporations in the positive material identification (PMI) market are driving progress by designing cutting-edge analyzers integrated with smart and cloud-connected technology. This technology will optimize real-time data analysis, enhance material identification accuracy, streamline regulatory reporting, and support easy incorporation into current establishment systems for superior workflow efficiency. Subsequent-generation XRF (X-ray fluorescence) analyzers utilizing smart, cloud-connected technology depict a notable progression in material analysis potential. For example, Evident, a scientific solutions provider headquartered in Japan, introduced Vanta Max and Core Handheld XRF analyzers in January 2024. These analyzers denote a considerable leap in portable elemental analysis technologies, specifically crafted for sectors including mining, recycling, and environmental testing.
Which key market segments comprise the positive material identification market and drive its revenue growth?
The positive material identification market covered in this report is segmented -
1) By Offering: Equipment, Services
2) By Form Factor: Portable Analyzers, Benchtop Analyzers
3) By Technique: X-Ray Fluorescence (XRF), Optical Emission Spectrometry (OES) )
4) By Industry: Oil And Gas, Metals And Heavy Machinery, Automotive, Scra*p Recycling, Chemicals, Power Generation, Pharmaceutical
Subsegments:
1) By Equipment: Handheld XRF Analyzers, Portable Spectrometers, Desktop Analyzers, Optical Emission Spectrometers
2) By Services: On-Site Material Testing, Laboratory Testing Services, Consulting And Training Services
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What regions are at the forefront of positive material identification market expansion?
North America was the largest region in the positive material identification market share in 2024. The regions covered in the positive material identification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the positive material identification market?
Major companies operating in the positive material identification market are Olympus Corporation, Thermo Fisher Scientific Corporation, Bruker Corporation, Hitachi Ltd., Ametek Inc., Malvern Panalytical, SGS S.A., Bureau Veritas, Intertek Group plc., Applus+, Shimadzu Corporation, TÜV Rheinland, TÜV SÜD America, SciAps Inc., Tribogenics Inc., Agilent Technologies, PerkinElmer, HORIBA, Spectris, Anritsu, Andor Technology, Buehne, Cofatech, Corning, Danaher Corporation, Deutsche Telekom, Element Materials Technology, TUV Nord, Torontech, QSX Instruments
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What Is Covered In The Positive Material Identification Global Market Report?
• Market Size Forecast: Examine the positive material identification market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the positive material identification market for a structured understanding.
• Key Players Overview: Analyze major players in the positive material identification market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the positive material identification market.
• Segment Contributions: Evaluate how different segments drive overall growth in the positive material identification market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the positive material identification market.
• Industry Challenges: Identify potential risks and obstacles affecting the positive material identification market.
• Competitive Landscape: Review strategic developments in the positive material identification market, including expansions, agreements, and new product launches.
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