Press release
Positive Material Identification (PMI) Market Growth Fueled By Expanding Oil And Gas Industries: The Driving Engine Behind Positive Material Identification Market Evolution in 2025
Positive Material Identification Market Size
Positive Material Identification Market Size Growth Forecast: What to Expect by 2025?
The market size for positive material identification has been experiencing significant growth in the past few years. This market is projected to increase from $3.07 billion in 2024 to $3.3 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.5%. The expansion seen in the historical timeframe has been due to factors such as safety and quality assurance, industrial development, metal processing and fabrication, use in aerospace and defense, along with the growth of the oil and gas industry.
How Will the Positive Material Identification Market Size Evolve and Grow by 2029?
The market size for positive material identification is predicted to witness robust expansion in the coming years, increasing to $4.5 billion by 2029 at an 8.0% compound annual growth rate (CAGR). The anticipated growth during the forecast period can be credited to the integration into the pharmaceutical industry, quality control in construction, global trade growth, advances in spectroscopy, and the expansion of the recycling industry. Key trends for the future include the development of handheld devices, the inclusion of artificial intelligence and data analytics, an emphasis on industry-specific solutions, the emergence of mobile and cloud integrations, and improved non-destructive testing.
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What Drivers Are Propelling the Growth of Positive Material Identification Market Forward?
The positive material identification (PMI) market is anticipated to be propelled by the expanding oil & gas industries. These industries are focused on the exploration of hydrocarbon, data aggregation, development, drilling, production, collection, refinement, distribution, and transportation. The PMI plays a vital role in these sectors for the maintenance of quality control and safety compliance, and it forms a significant part of production and asset integrity management. As indicated by a report released by the United States Energy Information Administration, the principal agency of the United States Federal Statistical System, the production of natural gas in the United States rose by 4% (4.9 billion cubic feet per day [Bcf/d]) in 2022, averaging 119 Bcf/d. Hence, the PMI market's growth is driven by the oil & gas industries.
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Which Emerging Trends Are Transforming the Positive Material Identification Market in 2025?
Major players in the positive material identification (PMI) industry are concentrating on the development of advanced analyzers using smart and cloud-based technologies to improve real-time data analysis and accuracy in material identification. This is coupled with the possibilities of better compliance reporting and easy incorporation into existing business systems for better workflow management. New-generation XRF (X-ray fluorescence) analyzers harnessing smart and cloud-based technologies furthers material analysis capabilities. A good example is Evident, a Japan-based scientific solutions enterprise that, in January 2024, launched Vanta Max and Core Handheld XRF (X-ray Fluorescence) analyzers. This heralded a notable advancement in portable elemental analysis technology, mainly aimed at industries like mining, recycling, and environmental testing.
What Are the Key Segments in the Positive Material Identification Market?
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, S 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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Who Are the Key Players Shaping the Positive Material Identification Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Positive Material Identification Market?
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.
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